Microsoft has acquired Nuance Communications, a pioneer in voice recognition and natural language understanding in a bid to add to its cloud computing healthcare. Nuance is a leading provider of Artificial Intelligence and cloud based ambient clinical intelligence for healthcare providers. Nuance’s solutions work with core healthcare systems. The company has a longstanding relationship with Electronic Health Records and helps with patient care documentation. This in turn helps providers with the ability to deliver better patient experiences.
Microsoft has been working on developing Microsoft Cloud for Healthcare to address the needs of the healthcare industry.
Microsoft CEO Satya Nadella said, ‘Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI. AI is technology’s most important priority, and healthcare is its most urgent application. Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections, as we accelerate growth of Microsoft Cloud for Healthcare and Nuance.’
The transaction has been unanimously approved by the Boards of Directors of both Nuance and Microsoft. The deal is intended to close by the end of this calendar year and is subject to approval by Nuance’s shareholders, the satisfaction of certain regulatory approvals, and other customary closing conditions.
Upon closing, Microsoft expects Nuance’s financials to be reported as part of Microsoft’s Intelligent Cloud segment
Cloud and Healthcare
Healthcare is rapidly moving towards digitisation and Artificial Intelligence and cloud computing are becoming a big part of it. Sweden based consulting group Youpal Group has also invested in virtual healthcare through Youmedico. Youmedico is a HIPAA Compliant platform for virtual medical care.
Healthcare IT solutions have offered many worthy benefits to the industry And now with security in place for cloud computing solutions, carriers, and service providers, healthcare organisations are more confident about their data being protected. IT spending is on the rise and cloud-based electronic health records Is having an impact on the health industry.
Cloud computing in healthcare increases the efficiency of the industry, while decreasing costs. Cloud computing makes medical record-sharing easier and safer, automates backend operations and even facilitates the creation, and maintenance of, telehealth apps
AI has been incorporated in the world of medicine so well, that it is now helping medical practitioners to understand and treat the causes of disease and not just symptoms. It’s used in surgery diagnosis and drug discovery to name a few.
With the current pandemic, countries are more interested in investing and researching in healthcare. The United States of America is planning on investing upwards of $2 Billion in 2021compared to the $463 Million in 2019.