• According to a 2019 industry forecast by Meticulous Research, the healthcare software development services or healthcare IT market is expected to grow at 13.8% CAGR (Compound Annual Growth Rate) between 2019 and 2027, to reach a value of $511 billion.
• On Aug. 3, 2021, andros announced the release of the …” first and only API…furthering its mission to transform healthcare administration by using data and technology to improve key business processes in provider network management. The API provides a toolkit for any healthcare business, including payers, providers, and telehealth platforms, to build a fully digital NCQA-certified credentialing experience into their applications and portals… allowing health plans to access new markets faster, improving providers’ interactions with traditional payers and tech-based healthcare innovators, and increasing patient’s access to quality care.”

Organizations are now recognizing the need for radical change in healthcare administration. Horizon BCBS, a technology leader among the BlueCross BlueShield plans, is currently implementing the andros API.

The FDA is restricted in its ability to regulate cybersecurity–this only extends to medical devices; electronic health records (EHRs) and back-office administrative software are currently excluded from the FDA’s oversight. In its report, the FDA Position Paper, the FDA acknowledges that the healthcare ecosystem software, “…which supports or is relied on by devices…to achieve the intended use of devices [and] assure that devices are safe and effective.” Legislative intervention is required to amend the Federal Food, Drug, and Cosmetic Act to regulate EHRs and enforce cybersecurity across the healthcare ecosystem