Healthcare providers and payers rely on technology to provide and pay for services to their clients. However, as the weight of the pandemic bears down on an already strained infrastructure, added imperatives such as the increasing need to improve shareholder value and keep costs down have executives lose sight of how technology acts as a valuable catalyst. Apart from mastering the nuances of their industry, healthcare executives also need to understand and master technology.
While technology professionals and teams form an integral part of the organization, most of these investments have had only incremental benefits and require months of effort to move the needle.
Empower SMEs and developers
Agile software development is a widely used software development methodology today. While it is one of the most seamless and fast ways to develop software, it still needs proficient developers and someone to translate business requirements into technical implementations.
In today’s environment, this results in an acceptable time to market. However, low code and no code software are now changing that. Low code platforms empower developers to reduce their development time from months to days.
It also lets business users with no software development experience develop applications and lets experienced developers focus on more challenging tasks. According to McKinsey, these “citizen developers” score 33% higher on innovation.
Accelerate digital transformation
Low code solutions enable subject matter experts to create applications without waiting and relying on core developers. This feature helps speed up digital transformation efforts across the organization. For companies that operate in constantly changing markets and with high regulation, this rapid digital transformation helps them stay ahead of the competition and define industry inflection points.
For example, mortgage rates change rapidly in the insurance industry, and any application that needs these rates for its calculations needs to keep up with this change. Low code platforms automate this decision-making by enabling SMEs to develop applications that update their logic without changes in the main codebase. As a result, it happens in days rather than weeks.
Do more with less
If the pandemic has taught us anything, resources are finite, but expectations are not. Customers still want the latest and greatest, and doing more with less seems to be the year’s mantra.
Low code platforms address challenges such as a shortage of technology talent and the need to be versatile in new frameworks. Using abstraction, automation, drag and drop interfaces, and seamless connectivity with other platforms, low code software lets teams create applications in different business units without worrying about how they will exchange data between them. This seamlessness and user-friendliness bring elements of speed and agility that are critical to any business that needs to keep pace in a fast-moving market while maintaining the guardrails of security and compliance.
Faster open government services
Citizen developers can contribute to rapid development cycles in the public sector too. Low code software democratizes software development. Citizens can quickly create applications and functionalities closer to their areas of expertise and solve real everyday challenges.
With easily enforceable security and compliance guardrails, citizens can often test and connect their applications with public data sources and leverage the power of data to bring about a positive change in their communities.
With good boundaries in place, developers and non-developers alike can faster test and deploy low code-based applications. In addition, they can iterate over rapid feedback cycles and keep pace with what the target audience wishes, thereby gaining a competitive edge.