Industry leaders gain major benefits from migrating data and operations to cloud while safeguarding sensitive information.
Moving vital data and operations to cloud has been a bright spot in an otherwise trying period for healthcare providers.
The COVID-19 pandemic showed these enterprises the importance of transitioning to cloud. Providers that are leading the vanguard of this change saw improvements in multiple areas, including data management, which helped them increase productivity and efficiency.
Moving to cloud helped the industry’s leaders realize other benefits as well, including an average 6.58% revenue gain from their cloud use and an annualized return on investment (ROI) of 54%, both higher than the healthcare industry averages of 4.24% and 51% respectively. Those achievements came despite tighter budgets and cloud spending that is slightly less than all other industries. More healthcare providers expect to follow in cloud leaders’ footsteps in the near future.
To further ensure their cloud efforts’ success, healthcare providers can also consider reinvesting cloud savings, taking a multicloud approach, closing the perception gap about security risks, and working with a cloud partner.
The insights shared in this report are based on a survey conducted for Wipro between June and September 2021 by ThoughtLab Group to analyze the current and future patterns of enterprise-level cloud adoption. Overall respondents included 1,400 executives from organizations ranging in size from less than $5 billion in annual revenue to more than $20 billion, with the largest share in the midsized category. The survey included 110 healthcare providers located in Australia, France, Germany, Switzerland, the U.K., and the U.S. All healthcare provider respondents are “knowledgeable” or “very knowledgeable” about the use of cloud technologies at their respective organizations. The largest portion of healthcare respondents (25%) reports directly to the C level, 14% are chief digital officers, 12% are business unit or division heads, and the remainder hold C-level positions such as CTO or CFO.
To calculate cloud maturity, we analyzed each healthcare provider to determine the cloud progress it is making, the percentage of applications it operates in cloud, and the number of advanced technologies it uses in conjunction with cloud. Based on those criteria, we classified the top 20% of healthcare provider respondents as cloud leaders, the middle 42% as intermediate users, and the remaining 38% as beginners.