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The company's journey to IPO is impressive, but the long-term upside hinges on the success of its long-term bets like ads and the enterprise platform. Last week, Instacart filed an S-1 with the Securities and Exchange Commission (SEC) in preparation for their IPO. This is an incredible moment for the company that pioneered the online grocery delivery market. Huge congratulations to the team on this milestone — it’s an impressive outcome from an 11-year journey. This, along with the Klavio and ARM IPOs, has created fresh hope that the tech IPO market is en route to recovery. Interestingly, when a company announces it intends to go public, the law requires it to open up a firehose of information. One such document is . From analyzing this document, a couple of things stand out: Instacart’s 300+ page S-1 filing In 2022, the US grocery market was $1.1 trillion, of which ~$132B is online; of this, ~$29B ran through Instacart. In other words, , pointing to a market saturation risk. Instacart already has 22% of the current total addressable market (TAM) for online grocery The company lists out a long list of potential risks (which is required and therefore expected on an S-1), and — intense competition, heavy reliance on medium-size retailers who might be consolidating/getting bigger, profitability risks to name a few, etc. many of these risks seem non-trivial While Instacart has navigated rough valuation corrections and managed to have a profitable 2022, the company still has several challenges ahead as it starts operating as a public company. In this article, we’ll talk about the company is making to set itself up for success. where the US grocery market is, Instacart’s market saturation problem, and the long (but uncertain) bets US Grocery Market and Instacart’s Market Saturation Problem To understand Instacart’s market saturation problem, let’s start with understanding the US grocery market from a couple of different lenses. One lens is looking at the overall market and what percent of it is/will be online. The total US grocery market as of 2022 is $1.1 trillion. Of this, ). ~12% is online (i.e., ~$132B Of the $132B online grocery market, Instacart ran worth of transactions in 2022, i.e., . $29B they already have ~22% of the online grocery market Also note that the total US grocery is expected to grow modestly at , which is not surprising for a mature market. While the % of this market that moves online changes meaningfully, it is estimated to cap out at ~21–24% in the next 5–10 years. ~2.3% annually As an example, per Instacart’s own reporting (chart below), in 2027, the online grocery market will be $1.3B * 21% online = ~$273B (about double what it is today). Another lens to look at the market is share by retailer. About half of the market is owned by (Walmart, Costco, Kroger, Sam’s Club), about one-fourth by (Publix, Target, Albertsons/Safeway, H-E-B, Whole Foods), and the remaining one-fourth by small local stores (convenience stores, local grocery stores, specialty grocery stores, etc.). large retailers medium retailers In other words, large retailers hold a lot of sway, followed by medium retailers. Put these two lenses together, and you start seeing the key challenges Instacart is facing. First, the overall grocery market is not growing by that much, and Instacart is facing intense competition. While Instacart wants to and not redistribute existing value, this is much harder to do in a mature market like US grocery. “grow the pie” For Instacart to succeed, the company needs to of the highly competitive online grocery market . preserve/expand its share AND increase the percentage of grocery delivery that happens online Second, Instacart needs to make itself . Large retailers (half of the grocery market) have either already invested or are starting to invest in their own technology offerings. valuable enough that large and medium retailers stick around Grocery is also a high volume, low margin business, which has resulted in more consolidation lately ( ). Kroger and Albertsons/Safeway announced they are merging As more of the medium retailers beef up to become larger, Instacart runs the risk of losing them if they choose to in-house their technology and logistics investments. For Instacart to be successful long-term, it’s critical for them to solve these two big challenges, and the company is making long-term bets in that direction. Instacart’s Long (but Uncertain) Game It’s clear from the S-1 that Instacart understands these challenges and is willing to make long-term investments. We’ll look at a few of these investments, and what the outlook looks like for each. Building Customer Loyalty to Defend Its Market Customers often don’t have loyalty toward delivery platforms and tend to switch freely to the cheapest option. While Instacart has built features that make the user experience more delightful (e.g., showing you items you have ordered before), competitors have followed suit. Instacart acknowledges : this risk As the effects of the COVID-19 pandemic and its variants subside, including the cessation of government stimulus, it is increasingly important to our business and its ability to grow for consumers to perceive long-term value from Instacart versus in-store shopping or less costly alternatives, particularly for lower income consumers. They are making investments to build loyalty — both through cheaper prices derived from operational efficiencies, and an . unlimited free delivery subscription Instacart+ Though Instacart+ has an impressive 5M members and accounts for , several competitors have equivalent products that do not require explicit payments. ~57% of transaction volume For example, DoorDash’s DashPass is offered for free with , and bundles free grocery delivery along with free eCommerce shipping. some Chase credit cards Walmart+ Instacart also has a similar deal today, pointing to a likely future where several subscriptions are provided to consumers for free, thereby eroding Instacart’s advantage from Instacart+. with Chase credit cards Take it with a grain of salt since it’s one person’s experience, but the last time I ordered groceries online, I compared prices on DoorDash and Instacart (because both are more expensive than in-store). I had free subscriptions for both through credit cards. The final amount turned out to be about the same, and I ended up ordering with DoorDash — because I use the app more often for ordering from restaurants. This points to another disadvantage Instacart has over more high-frequency/ubiquitous competitors. Overall, I still think Instacart will continue to be a significant player and at least defend the % of the online grocery market they own, but I’m not bullish that this % will increase. Scaling Up Advertising for New Revenue + Subsidizing Delivery Instacart ads generated $740M in 2022 revenue. Besides creating a new revenue stream (which Instacart definitely needs given its market saturation), this descriptive chart from Instacart’s S-1 perfectly captures why advertising matters for the company: For every transaction, Instacart collects fees from retailers and from consumers. It then pays out shoppers who pick up/deliver groceries; in this part of the funnel, from a $110 transaction, Instacart gets to keep $7. There is further “cost of revenue” including but not limited to technology/infrastructure, employee salaries, etc.; of the $7, Instacart gets to keep $4 “gross profit”, i.e., a low 4% profit margin. Now, add advertising to this. What Instacart keeps goes up to $7 “gross profit”, i.e., . In other words, it increases the company’s bottom line by 50%. advertising turns Instacart from a 4% to a 6% margin business This is a very similar strategy to how . Uber successfully used ads to subsidize their low-margin delivery & rides business While the ads revenue number is impressive, what makes this product strategically valuable is what ads in the context of Instacart can drive for advertisers. Let’s look at Uber briefly, and then come back to Instacart. In the Uber analysis, I wrote about the UberEats and Uber Rides app inventory — UberEats is high intent and in context (e.g., you are searching for restaurants and you see a restaurant ad) vs. Uber Rides which is more display ads-y (e.g., you ordered a ride, there’s a free canvas there, and Uber shows you an ad for something that could be relevant to you but not contextual). differences between Between the two, I was significantly more bullish on UberEats because the value proposition to an advertiser is clear — spend ads money with Uber and directly measure the transactions it drives (the link is much less defensible for Uber Rides app ads). For the same reason, I’m very bullish about Instacart ads. Specifically, Instacart is building their ads product for — classic examples of CPG advertisers are Procter and Gamble (makes Tide pods), Coca-Cola, Kellogg’s, AbInBev (makes Bud Light) to name a few. consumer packaged goods (CPG) advertisers Though CPG advertisers have some of the most sophisticated marketers in the industry, they have often struggled with measuring the direct effectiveness of their ads. For example, if you are Procter & Gamble and you want to increase sales of Tide pods, you don’t go run ads on Google, Facebook, or display. Because users don’t buy directly from Procter & Gamble, they buy from distributors/retailers like Walmart and Target. Therefore, CPG advertisers typically have to use more traditional marketing methods, like paying Walmart to show their products prominently in aisles. Another version of this is where a CPG brand spends ad dollars on behalf of some distributors, e.g., AbInBev spends ad dollars promoting Bud Light sales in a few specific bars. co-op advertising dollars While several top retailers have built sophisticated ad products for CPG advertisers (a new category of ad platforms called ), — if you are a CPG brand and you don’t sell directly to consumers, you need to rely on some sort of “estimated” measurement of how effectively your ads dollars are driving sales. retail media networks the two-hop problem still exists Their ad product , e.g., Procter & Gamble can specifically promote Tide pods when you are in the process of ordering from a Safeway near you. Instacart breaks that huge limitation. lets CPG advertisers promote specific items at specific retailers in a highly contextual format And more importantly, since the actual transaction happens within the Instacart app, Instacart can deterministically (without any “estimations”) say how much product sales were driven by ad spend. Irrespective of how mature or effective the Instacart ad product is today, the that very few other products have. ability to provide direct response advertising to CPG advertisers and measure sales outcomes with high confidence is a big moat There are a couple of advertising-related risks though. Instacart’s order numbers are flat year over year, and if this were to decline, that would hurt their ability to scale the ads products (sub-scale advertising products have a difficult time succeeding — e.g., Twitter). Also, with Instacart’s ad product, the company risks pissing off retailers who are essentially building their own ad products. Advertising often tends to be a zero-sum game, and if Procter and Gamble is spending directly with Instacart, that’s money not being spent on Safeway’s retail media network. Instacart could make the argument that it “grows the pie” for everyone, but I’m not confident this would land with retailers. My guess is that it will land in a place where Instacart agrees to some revenue share model with retailers. Overall, I’m bullish that the ads business will continue to thrive as long as it can keep up order volume. Instacart Enterprise Platform At the beginning of the S-1, Instacart CEO Fidji Simo articulates Instacart’s vision: Our vision is to build the technology that powers every single grocery transaction — working with the retailers that consumers know and love to invent the future of grocery together. And right now, that’s more important than ever. Note the language there — Instacart does not say that they want to be the primary platform for every grocery transaction. They say they want to build the technology that powers it. I have no criticism of the framing, and I think that’s a smart strategy, but I do think that the framing is a direct consequence of the market saturation problem Instacart is facing. Instacart knows that more online grocery orders cannot be their only future (or at least that there’s a ceiling on the addressable market with that approach). A few excerpts from the S-1 support this and also shine a light on how Instacart is thinking about going beyond online grocery: We (Instacart) believe the future of grocery won’t be about choosing between shopping online and in-store. Most of us are going to do both. So we want to create a truly omni-channel experience that brings the best of the online shopping experience to physical stores, and vice versa. With the business of grocery changing so quickly, many retailers need a trusted partner to help them navigate this digital transformation so that they can drive success both online and in-store. If the neighborhood grocer who has been serving their community for decades can’t find an edge, they may not be able to keep up. They are looking to address this opportunity with the — it’s essentially a Shopify-esqe offering but specifically for brick-and-mortar retailers, and supports a range of functionality across retailers’ life cycles. Some notable functionality includes: Instacart enterprise platform eCommerce: They provide white-label online storefronts for 550 brands (see screenshot of Sprouts’ storefront powered by Instacart). Fulfillment: actual delivery of orders; typically picked, packed, and delivered by Instacart shoppers, but retailers can also choose to pick and pack themselves. Ads: Power on retailers’ eCommerce storefronts sponsored products and display ads With this investment, Instacart is and , and with them long term (and not consider in-housing all of their online business). betting that they can use their existing position as retailers’ delivery partners expand that to be more strategic technology partners consequently get retailers to stick around It is a smart bet, but I think is nowhere close to a slam dunk (at least so far). Large retailers (Walmart, Kroger, etc.) control ~50% of the grocery market, and I’m skeptical that they would want to rely on Instacart’s enterprise platform as their storefront. Large companies like to minimize external dependencies because these tend to slow down product development heavily in the long term. Additionally, if I were running online grocery at Kroger, I would not want a distribution partner to also be my technology provider — because sooner or later, the partner is going to have a conflict of interest, and that won’t be a fun conversation to have. Even if I had no technical competency in-house, I would much rather hire from a long list of system integrators, or contract the work to an IT company (like Infosys, Wipro) to build an in-house system. Outsourcing tech for online grocery is likely more palatable for medium-sized retailers who are okay with strategic risk, but there have been indications that consolidation is coming (e.g., Kroger Albertsons merger), and it’s uncertain how many medium-sized retailed will continue to exist in the long term. Not to say this bet won’t be successful — just that these are non-trivial challenges that Instacart needs to address to actually make the transition to being a dual distribution + technology partner for medium and large retailers. Conclusion I think Instacart’s journey so far is nothing short of impressive, and they have clearly created a market that’s here to stay. Despite all the non-trivial challenges, I am bullish that Instacart will come out of this successful. Their ads business that caters to CPG advertisers’ direct response needs is a strong moat that can subsidize the delivery business. This, along with other operational improvements they are making, can improve their profitability and therefore at least maintain their market share of the online market (I’m skeptical about it expanding). The key uncertainty to me is if they can make the transition to a dual distribution + technology partner role for retailers, and that might meaningfully change the trajectory of what Instacart’s long-term valuation ends up being. 🚀 If you liked this piece, consider subscribing to Every week, I publish one in the form of a 10-minute read. . my weekly newsletter deep-dive analysis on a current tech topic/product strategy Best, Viggy. Also published more

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If you get a chance, create your account and start stacking. We're whitelisting new friendly folks each day. Feedback? I'd love to hear it at ryan@yourstack.com. Cheers,
Ryan Hoover (@rrhoover) 39. How Global Quarantine Popularized Virtual Social Platforms. Distant socializing is becoming the new norm. With the COVID-19 outbreak spreading across the globe, people on all continents are isolating themselves at home to fight the pandemic. 40. Technology: It Was Meant To Be Humanity's Best Friend, Not Worst Enemy Technology at its purest form should be beneficial to humanity. It should make our lives easier. It shouldn't be used for evil implications. I don't want to go on a whole philosophical rant here, but some things seem needed. 41. Social-as-a-Service Concept “There are only two ways to make money in business: one is to bundle; the other is unbundle.” — Jim Barksdale, former CEO and President of Netscape. 42. The 10 Technologies that Completely Changed How we See the World Remember great technological advances that changed the lives of thousands of people and the new bets of the future through information technology. 43. Proposal to Gab.com and Andrew Torba: Let's Crush "Big Tech" Together One of the people in tech that gets an unfair bad rep is Andrew Torba. Infact, I had a Gab account since 2017, and though I am barely active, I don't have many problems with the service. 44. How the Twitter Homepage has Changed in the Past 10 Years Twitter is the world’s most loved microblogging social network. Users interact and post messages known as Tweets. Twitter was created in March 2006 and launched later that year in July. Since then, it has evolved a lot. Today we are going to review the changes and evolution of Twitter homepage design in the last ten years. 45. Shape Your Personal Brand for a Successful Future Has it ever occurred to you that, as a working professional, you are a brand? How you are perceived is crucial to your work life. Work on your personal brand. 46. Exploring the Strategy and Technology by TikTok to Attract Gen Z Einstein once said that the measure of a person's intelligence is their ability to adapt to change. In the realm of technology and the internet, change goes so fast while bringing good and bad things. Maybe you still remember the controversy caused by TikTok. The Indonesian government had blocked this app because of the neglect of negative content. The good news is that TikTok has changed a lot since he rolled about two years ago. After being hit by critics related to privacy, dependency, and safety issues (especially for young users), the developer of ByteDance is slowly implementing a number of security features. 47. Twitter is a Mess, So Former Employees Are Creating Spill as an Alternative With Spill, you can create, comment, amplify or share a random thought with the public. 48. Social Sampaigns and ROIs: a Closer Look at the Stats There is simply no point in making an investment unless that investment delivers a measurable return - is that not the truth? One wouldn’t buy a house or company unless they felt confident it would make them money, in the same way a company wouldn’t choose to invest in an advertising or marketing campaign unless they felt confident it would increase their profits as a result. 49. Trends to Watch Amid the Rise of the SocialFi Era SocialFi has been introduced as web3’s answer to social media for the future. Online users are currently in transition from a web2 to a web3-driven world. 50. The Everything App: Elon Has Great Plans for Twitter 2.0 The Everything App: Elon has great plans for Twitter 2.0 51. How to Set and Exceed Social Media Goals Every brand is engaging in social media marketing campaigns. Statistics reveal that 90% of marketers believe that their business has experienced good exposure. 52. TikTok Ban: The Biggest Trends to Arrive from 2020's Controversial Social Network TikTok’s rise in popularity has taken the world by storm. Launched in 2017, the social network only reached world markets in the summer of 2018. Two years on and the video-based platform has amassed over two billion downloads globally. 53. The GameStop Incident is Only The Beginning Be it QAnon, Game stop, or T-Series the underlying forces are the same. They are driven by the followers of a belief, a belief initially led by a few with some 54. How Often Should You Post On Instagram? How often should you post on Instagram? That’s the million dollar question with an easy answer for most, but there’s not a one size fits all approach. 55. Introducing CloseKnit: Healthy Community For Neighbours Every good story starts at the beginning. I was five when the train jolted from standstill, slowly carrying my parents and me away from the crumbling USSR. Most of the people who I cared for in life stood outside, waving. In due time, I’ll get to see them all again — but I did not know that back then. 56. P2P Alternatives to Social Media Apps Are Important We don't yet have true p2p social commonly used and hopefully by the time you end this short essay you will think as I do that it's really important that we do. 57. The Social Media Platform That Can Boost Your B2B Marketing (it’s not LinkedIn) Social media has come by leaps and bounds from its original intention. From what started as a pedestal for self-promotion and online socialization, it’s now bec 58. The 💩 Poop Emoji's 10th Anniversary The poop emoji was inspired by Dr.Slump, a Japanese anime from the 80s. The emoji project began in Japan in 1999. 59. 6 Effective Ways to Stay Ahead of Your Competition Using Social AI MarketsandMarkets forecasts that by 2023, AI in the social media market will be worth $2,197.1 million. 60. Elon Musk: The Visionary, Risk-Taker After taking over as the new owner of Twitter, billionaire Elon Musk claims to have liberated the social networking and microblogging site. 61. Twitter Lists Are Criminally Underrated Lists can help solve some of Twitter's major pain points 62. Why the future of socializing lies in VR And what avatar technologies are essential in the era of spatial computing. 63. Social Networking website in Django (Cloudinary + Sendgrid) Did you know that almost every person on our planet is a user of at least five types of social networking sites? Facebook alone, the most popular social network website, has 2.375 billion users. 64. You’re Communicating So Much I Can’t Hear You Social networks and online communities are losing sight of user experience in their haste to include the latest features. Here's how to declutter. 65. Digg Free Gear? – A Thank You Contest by HackerNoon We'd would like to celebrate our writers and their amazing stories, by giving you a chance to win free HackerNoon gear. 66. How to Use Postgres to Recreate YikYak YikYak was an anonymous social network that used your location to show you posts 5km around you. Users of the app could create new posts and the people around them could view the posts and vote up or down. 67. Metaverse: Prospects for Monetization and Scaling Like Web3, the concept of "metaverse" does not yet have a clear definition. 68. Interview with Chatroulette Founder Andrey Ternovskiy Topics Discussed: the “dick problem” // virtual reality for cats // the stupidity of going to mars // mathematical machines of evil // why being a god would be boring // creating your own country in the ocean Thank you for checking out the 68 most read stories about Social Network on HackerNoon. to find the most read stories about any technology. Visit the /Learn Repo

68 Stories To Learn About Social Network

Autonomous Agents and the Next Managerial Revolution

স্বায়ত্তশাসিত এজেন্ট এবং পরবর্তী ব্যবস্থাপক বিপ্লব

Autonome Agenten und die nächste Managerrevolution

Agentes Autónomos y la Próxima Revolución Gerencial

Les agents autonomes et la prochaine révolution managériale

स्वायत्त एजेंट और अगली प्रबंधकीय क्रांति

自律型エージェントと次の経営革命

자율 에이전트와 차세대 경영 혁명

Agentes Autônomos e a Próxima Revolução Gerencial

Otonom Aracılar ve Sonraki Yönetim Devrimi

Đại lý tự trị và cuộc cách mạng quản lý tiếp theo

自主代理和下一次管理革命

It wouldn’t be wrong to define the present world as the one where technology embraces anything and everything. Right from the mobile phone you are holding to the aircraft that you see flying in the sky, it is all technology. Every segment of the global marketplace is accelerating and optimizing technology to stay ahead of others. When it comes to naming the industries that are the most influenced by technology, healthcare reserves the topmost position. Undoubtedly, technological advancements are pushing hospitals and other healthcare providers to look for solutions to digitize their processes and functions. Furthermore, the situation gives rise to the need for finding reliable healthcare software development companies. As per a in the U.S. (2019), most C-suite executives deploy advanced technologies in their healthcare organization. survey conducted Below, we have brought a list for you that contains the top 10 medical software development companies that possess the potential to reform the healthcare industry. We have thoroughly researched, analyzed, and then created the list you are about to read here. Our research is entirely based on clients’ reviews and ratings, case studies, testimonials, comparative analysis, and other vital parameters. Top 3 Healthcare Software Development Services Provider RisingMax Suffescom Intellecsoft See the list of ﻿custom healthcare software development company - Healthcare Software Development Company 1. RisingMax US-based RisingMax is a healthcare software development company that delivers scalable business solutions. They cater to client’s unique needs of clients from the healthcare background and render unsurpassable and result-oriented healthcare software development services. Its scope of services includes creating patient portals, designing solutions for clinical management, , mobile health apps, and more. As reflected through their past projects, they cultivate a deep understanding of the requirements to develop apt solutions. They empower their software by incorporating emerging technologies like blockchain, artificial intelligence, and IoT. The company has also nailed the art of satisfying its clients, which is exhibited in the client testimonials section of their website. home healthcare management software EHR System, EMR, Telemedicine App, Doctor On Demand, Hospital Management System Product Developed For Healthcare Industry: 2. -  Healthcare Software Company Suffescom Solutions Suffescom Solutions is another US-based software development company that has earned a reputable position on the list of the most preferred healthcare software development companies. They provide the right strategy and the right technology to develop software for healthcare organizations and enable them to propel forward. With their large-sized team of developers, the company has set numerous examples where they have assisted healthcare organizations to upscale their business. Their past performance and delivery of back-to-back successful projects speak high of their dedication and expertise. Moreover, their software products are enriched with UI/UX to render an unparalleled user experience. Over the years, they have developed an attractive portfolio that consists of various esteemed clients. 3. - Healthcare Software Development SaM Solutions SaM Solutions delivers exceptional and robust healthcare software development services and has successfully completed digital healthcare projects. Right from consulting, custom healthcare software development, portal & CMS to apps for medical staff, mobile solutions for patients, software development for medical devices, and maintenance, they do it all. The company advocates offering custom solutions to healthcare organizations because not every solution is meant for everyone. Their software products have streamlined processes for various healthcare clients. Additionally, utilizing its domain experience, passion, and technological expertise, the company strives to better its software development and deliver enterprise-grade solutions. 4. Medical software development services Intellectsoft Intellectsoft has carved a special position for itself among the most reliable healthcare software development agencies. Its cutting-edge transformative solutions and customer-centric approach make it one of the most sought-after software development firms for healthcare providers. The company provides healthcare web/mobile applications, digital healthcare solutions, IoT-powered medical solutions, EHR systems, clinical data management systems, and more. Its software products are developed explicitly to minimize the scope of human intervention/error. Powered by exemplary technical skills, the company integrates technologies like artificial intelligence and IoT to render services at par with excellence. Our tech experts also came across their genuine client testimonials and reviews that further strengthen their current position. 5. healthcare software development services Artezio Artezio is no new name and has been serving the global marketplace for more than 20 years with its healthcare software development services. The company has successfully served more than 100 clients, including various prestigious healthcare providers, pharmaceutical distributors, research organizations, and other healthcare institutions. They offers custom solutions to enable the healthcare sector break the traditional management systems by introducing its highly sophisticated and agile software products. The company’s custom healthcare software development includes a suite of systems like in-patient & outpatient record management, EHR & EMR, clinical trials management, and more. Besides, they also develop mobile apps for doctors, patients, and fitness & health. 6. Itransition healthcare software development Itransition is counted amongst those medical software development companies that are tech-driven and developers of modern healthcare solutions. It offers grounded solutions to serve the segment that serves humanity. Its custom healthcare solutions are at par with excellence and never fail to deliver what the healthcare providers demand for bettering their services. The company’s healthcare solutions consist of consumer health apps, patient portals, clinical & health management systems, medical practice management & operations system, and more. Its existence has facilitated the growth of healthcare organizations by managing their workflows and automating their processes. 7. Velvetech Velvetech develops healthcare solutions that match the needs of healthcare organizations. Amazingly, they have been serving the healthcare providers with their solutions for more than 15 years now. The projects developed by Velvetech leverage the potential of technologies like blockchain, AI & Machine Learning, the Internet of Medical Things, and more. The company also develops software as a medical device (SaMD) that is highly compatible with tablets, smartphones, and desktops. Besides, they also build practice management systems, medical billing solutions, post-acute-care coordination solutions, and more. 8. Oxagile healthcare software development services Oxagile is one of the most reliable healthcare software development companies that assist caregivers with medical software products. The company has a vast track record of developing software solutions that enhance diagnostics, treatment, medical workflows, and day-to-day management solutions. At Oxagile, they build custom healthcare solutions for hospitals, clinics, and other healthcare institutions. The company offers medical software, including EMR, EHR & PHM, lab information systems, E-prescriptions, patient portals, hospital asset tracking, and revenue cycle management. Their software products are enriched with UI and UX that makes them highly appreciable amongst clients. Powered by Cloud, their patient portal, health tracker, and feature-rich analytics solutions are amongst the most demanded solutions by the clients. 9. Elinext Elinext is an established name and has earned a reputation amongst healthcare software development agencies. Talking about its inception, it dates back to 1997. Since then, they have grown by leaps and bounds and have built significant healthcare IT solutions for hospitals, pharmacies, dental practitioners, and other healthcare industry verticals. Their expertise revolves around automating workflows, optimizing cost, improving diagnostics and treatment, enhancing patient engagement, and minimizing risk. Their scope of healthcare solutions consists of radiology software, patient portals, Mhealth apps, healthcare analytics software, cancer detection systems, and more. Elinext’s solutions are backed by modern technologies that lead them to meeting industry standards. 10. DaffodilSW healthcare software development company DaffodilSW has made its presence felt by outsmarting many custom healthcare software development firms. Its smart and user-friendly healthcare software products enable healthcare providers to redefine the way patient’s needs were addressed till now. The company delivers the development of custom EMR/EHR solutions, hospital & practice management solutions, patient engagement software, telehealth solutions, emergency response systems, on-demand healthcare solutions, fitness apps, and healthcare information exchange. The company's customer success stories speak high of its expertise and their flawless software products. Daffodil boasts of numerous happy customers because it houses solutions that can take healthcare organizations to the next level. Their propelled abilities have helped many healthcare providers in achieving their goals of providing better care to patients while managing their workflows. Why Should Healthcare Organizations Get Healthcare Software Developed? Times have changed, and so has the perception of the global marketplace. Maximum industries are inching towards digitization, and the healthcare industry is no exception. However, the question here is what importance does healthcare software hold, and why should healthcare organizations get software developed? Here are a few reasons that will explain its importance and why you should look for the best custom healthcare software development company. Healthcare software products enable quick access to patient records from inpatient and remote locations. This feature adds to the efficiency of healthcare organizations and bettering their care while coordinating within the system. Quick Access The most reliable healthcare software development agencies integrate modern technologies into their software products and effectively support clinical decisions. Moreover, robust healthcare software offers clinical alerts, reminders, and medical information. Effective Decision Support Healthcare software comes with performance-improvement tools and real-time quality reporting to keep the healthcare providers updated on every key aspect related to the patient, diagnoses, treatment, and other verticals. Real-Time Quality Reporting A healthcare software incorporates legible and complete documentation to bring accuracy in coding and billing. This feature prevents manual errors from occurring while the hospital staff maintains the financial records. It also keeps the patients & family at ease throughout their stay at the hospital facility. Accurate Coding & Billing The provision of reliable point-of-care information and reminders that notify critical health interventions makes it a must-have digital product for healthcare providers. Doctors and medical staff can keep monitoring patient’s health. Health Interventions Most healthcare software development firms prefer integrating the e-Prescriptions feature into their healthcare software products. The functionality allows the electronic sending of prescriptions to the pharmacy. e-Prescriptions Solutions like cloud computing systems and SaaS-enabled allow healthcare providers to use the software and its services anywhere without any discomfort. Convenience Of Use Electronic Health Records Custom healthcare software development companies acknowledge the importance of automation. This is why healthcare software products possess features that reduce the need for staff to maintain everything manually. Reduction Of Manual Intervention Electronic referrals promote convenient and hassle-free follow-up care with specialists. Follow-Up Care After knowing the above-mentioned astounding benefits that healthcare software can bring for your organization, it becomes next to impossible to deny its importance. And now that you have learned them, it’s time to know about the next five medical software development companies. Read through. Did you know? Technology-driven innovation has the power to improve the understanding of patients, enable the delivery of more convenient, individualized care, and create $350 billion–$410 billion in annual value by 2025. The remote patient monitoring market is expected to reach US$31.326 billion by the end of 2023, increasing from US$15.871 billion in 2017, growing at a of 12% during the forecast period. CAGR Statistics are endless that advocate the importance of healthcare software for the industry that saves lives. Factors To Consider Before Choosing A Healthcare Software Development Company While our list of the best healthcare software development agencies is not exhaustive, there are many others firms in the marketplace. Admittedly, not every agency is worth hiring, and you should always consider a few key factors before hiring one. Let us have a quick glance at those factors. Medical needs Technical skills and expertise of the firm Market reputation of the firm Budget Bearing these aspects in mind, you can well analyze and compare between various firms and boil down to one. Wrapping Up: The market is flooded with innumerable companies that provide healthcare software development services. Our tech experts keep a close eye on the healthcare software development companies and keep reviewing them to help the readers stay updated and educated. Furthermore, this piece is a result of months of research and analysis with our team working to bring the most insightful information for you. We hope this blog post allowed you to dive deeper and select the best healthcare software development company to reach the shores of successful healthcare provision.

10 Best Healthcare Software Development Companies of 2023

Healthcare technology refers to any software or IT tools developed to boost hospital and organizational productivity, improve the overall quality of care, and provide better insights into treatments or procedures. The healthcare industry is a $2 trillion giant facing complex challenges like insane costs, thorough regulations, limited access, and physician burnouts, among many other problems. Forcing healthcare companies to look for alternatives to provide disruptive solutions, and of course, technology is a key ally. In the past few years, we have accelerated growth in health tech, with technology helping in every step of our healthcare experience to improve quality and efficiency. We still have a long way to go regarding healthcare, so companies are in an excellent position to bring innovation and improvement by introducing life-changing tools and software. To do so, it's important to work with a healthcare software development company that understands the industry, excels at technology, and has expertise in regulations and compliance. We researched the market to be able to provide a list of the top healthcare software development companies that have the potential to build outstanding digital products. We based this list on the top healthcare software development companies according to , , and . We evaluated experience, portfolios, tech stack, compliance, client reviews, team sizes, and value propositions to determine the ideal partners when it comes to health tech: Clutch Designrush Google Rankings ★★★★★ 5.0 Rating 1. Healthcare Software Development Company | Light-it - Light-it is an award-winning healthcare software development company that builds outstanding digital products. Their clients range from fresh start-ups to leading 500 companies. They manage an expert team by offering end-to-end product development and staff augmentation services. As healthcare product builders, they combine technical capabilities with thorough expertise in healthcare and industry-specific regulations. Their scope includes web&app development, road mapping, and UX/UI design. They have experience developing medical software solutions in multiple healthcare fields, such as pharmaceuticals, medical data management, hospitals, and digital consultations. As a healthcare software development company, its biggest asset is working as genuine partners with its clients and being involved in every step of the process. - ★★★★★ 4.9 Rating 2. Intellectsoft Healthcare Software Development Company | Intellectsoft has a great position in the niche, being one of the most reliable healthcare software developers. They have specialized in health since 2007, giving them over 15 years of experience. They bring top-notch domain expertise, exceptional talent, and innovative thinkers to deliver quality healthcare solutions. The company provides web/mobile applications, hospital information systems, EHR systems, IoMT, data engines, and remote medical care solutions. As a software development company, they also specialize in other industries like construction, insurance, e-commerce, etc., and have great experience in each one. Intellectsoft stands out for its years of experience and the use of innovative technology. ★★★★★ 4.8 Rating 3. - Healthcare Software Development Company | Sciencesoft Sciencesoft is a leading healthcare software development company with over 17 years of experience in the industry. They offer full-cycle IT services for medical organizations to build thriving solutions without expanding their in-house team. They deliver excellent custom solutions by combining deep industry expertise, innovation, and the latest technology. Their healthcare IT services cover IT modernization, cloud migration, care delivery digitalization, and IT support, among others. With so many years of experience, they have expertise in most healthcare niches and a vast number of developers, designers, and engineers in their team. ★★★★★ 4.9 Rating 4. Itransition - Healthcare Software Development Company | Itransition is a tech-driven medical software development company. They deliver innovative and custom healthcare solutions to improve health services and people's lives. The company offers a wide range of solutions, such as health apps, patient portals, and medical practice management & operations systems. They deliver tech solutions and services for healthcare organizations and practitioners, nursing homes, diagnostic and research centers, assisted living facilities, medical ISVs, and device manufacturers. As a software company, they focus on usability and security, which guarantees a seamless operation and a positive user experience. ★★★★★ 4.9 Rating 5. Cleveroad - Healthcare Software Development Company | Cleveroad offers custom healthcare software development to optimize workflows at medical facilities and digitalize healthcare to improve interoperability. Their services are for all industry institutions, such as telemedicine, medical, remote care, and physical and mental well-being. They provide treatment/patient support, internal operability, management software, and patient solutions. They have an outstanding team of developers that focus on building innovative solutions that optimize services and workflows and enhance the interaction between providers and patients. ★★★★ 4.0 Rating 6. Artezio - Healthcare Software Development Company | Artezio has been offering healthcare software development services for over 20 years, so they are a well-known name in the industry. Those many years of experience have led them to build solutions for more than 100 clients, including recognized companies in different healthcare spaces (providers, pharmaceuticals, researchers, etc.). They aim to disrupt traditional management systems by offering custom healthcare solutions that are sophisticated and agile. Some of the systems they manage include EHR & EMR, patient record management, clinical trials management, and developing web and mobile products. All in all, they are one of the best options when it comes to healthcare software development, and it shows with their numerous positive reviews. Tips on How to Choose the Best Healthcare Software Development Company Once you have decided to work with a healthcare software development partner, there are numerous options to choose from, and it can be hard to evaluate each one, especially since they all claim to be experts in their field. So, how can you choose the ideal one to reach your goals? Analyze their experience and areas of expertise as a healthcare software developer The healthcare industry presents significant challenges, especially in building products, since many regulations, standards, and compliance requirements need to be met in every step of the development process. Experienced healthcare developers will help you navigate these challenges and assist you. Investigate their portfolio to see the quality of their work. It's important to review the portfolio of your potential healthcare software development partners to analyze their past projects and understand if they match your requirements regarding quality. Also, it's a good idea to research to see if they serve organizations within your niche. Some factors when evaluating the portfolio are: Type of healthcare products they delivered in the past The type of clients they have partnered with The complexity of the projects they have worked on The involvement and support they provide to their partners The technologies they work best with Reviews are a great way to discover how customers feel about each company and how they helped them create their healthcare software solutions. With each review, you can evaluate the human side of the equation and each company's involvement with its projects. Look for reviews and ratings to understand the quality of the service When building innovative solutions, the cost-to-quality ratio is an essential aspect to analyze before choosing your tech partner. Everyone has a budget, and it's important to be clear about it from the beginning to understand which company will be the best fit for your project. Know the cost of developing healthcare software Evaluate the best engagement model based on your project to choose a company that is aligned with it. Engagement models define the different ways in which the collaboration between you and your partner can be: Fixed price model: The healthcare software development company provides a fixed quote for their work. This model can be helpful for short-term projects or projects with a crystal clear scope. Time and material model: In this case, the team provided for the project is based on time and material. As a client, you will agree to pay per time and developer based on a mutually agreed hourly rate. This model is ideal when you need flexibility and scalability and the project is long-term. Dedicated Hiring Model: It refers to an agreement between you and the development company, where the company will provide software development talent on a long-term basis depending on your demands on experience and expertise. This is ideal for clients looking to extend their team or who need more flexibility. Many might believe that launching the product is the final step, but this is only the beginning. The market and user demands keep changing, so ongoing development will be necessary in many cases. And even if there were no need to keep developing or optimizing features, there would be obstacles that must be faced post-launch. Ask the different potential partners about the support and maintenance they offer. Evaluate what the healthcare software development company will offer post-launch. The human aspect will be vital to making the right decision. Get to know the other company to fully understand how they work, if they are a cultural fit, if they will really be partners or just offer software, etc. Schedule a meeting to get to know them. Some Questions You Should Ask Your Healthcare Software Development Company: Do you understand the HIPAA compliance requirements that might apply to my healthcare product? What other regulations will I need to take into consideration? Do you have expertise in the healthcare industry? Do you offer end-to-end product development? Can we sign an NDA? Can I have the contact information of your previous clients? What is your working methodology? How experienced are your software developers, QA engineers, and designers? How often and how will we communicate during development? Will I be provided with full access to their code? Criteria for Choosing the Right Healthcare Software Development Company This checklist will cover the essential characteristics a custom software company should have: [ ] Track record, rankings, and customer reviews. A great place to check for this is Clutch.co [ ] The development methodology and how close it is to your own (most clients choose agile, but it's still important to ask) [ ] Compliance when it comes to privacy and security regulations. [ ] The size of the company (it will tell you a lot about their involvement and expertise) [ ] Their technological expertise in healthcare software development and their tech stack. [ ] They have capacity and scalability. In conclusion, the fast-growing health tech industry presents incredible challenges that push companies to find disruptive and innovative solutions, and to do so, having a technological partner is critical. The market is flooded with countless healthcare software development companies that can provide this service, so it is important to consider all your requirements and do extensive research before choosing one.

The Top 6 Healthcare Software Development Companies With the Best Ratings

Introduction I’ve only been in Web3 for about a year now, but I can honestly say that NFTs are the most exciting aspect about it for me. I’m not talking about Apes or Punks, however. PFP (profile picture) projects and art, although cool and a simple proof of concept for the technology, won’t create a better world. Instead, I’m excited about the actual utility of NFTs. Allowing gamers to own their assets, delivering fair royalty commissions to musicians and artists, and making concert tickets impossible to scalp while providing a sweet digital memento are some of the use cases I find interesting. However, building and interacting with NFTs aren’t always the easiest thing to do. As developers, we need clear resources to build projects effectively in order to give our users a better experience. I recently heard about , so I thought I would check it out and see how it could improve my development workflow. In this article, I will explore the capabilities of Infura’s NFT API and test it out using a Lootbox NFT sample project from Infura’s Github. Infura’s private beta for their NFT API What is the Infura NFT API? According to on Infura’s website, the NFT API will help me “accelerate my time to value” and allow me to interact with anything related to NFTs through a convenient SDK. In addition, I can build and verify my NFTs, create metadata templates and easily mint NFTs. So my first impression is that I can start creating and interacting with NFTs using API endpoints rather than building smart contracts and deploying them. this blog post Sounds pretty useful! And I’m all for testing any tool that will help improve my development processes. Infura’s NFT API suite seems helpful for any dev transitioning from Web2, since you can run API endpoints without Solidity. Now let’s dive deeper and see what this NFT API is capable of. Infura NFT API Capabilities A quick glance through the on Infura’s website proves my first impression correct. I will be able to deploy and call methods on my NFT contracts using Infura’s API endpoints, without having to actually write the smart contract code. This is a huge time saver! NFT API documentation is straightforward. I create the NFT metadata in JSON format, in another Infura project, then create a simple deployment script and run it with node. I also have to make a file to hold some environment variables. My deployment script ends up looking something like this: Deploying a contract upload the metadata to IPFS .env import { config as loadEnv } from 'dotenv';
import { SDK, Auth, TEMPLATES } from '@infura/sdk';

loadEnv();

const auth = new Auth({
      projectId: process.env.INFURA_PROJECT_ID,
      secretId: process.env.INFURA_PROJECT_SECRET,
      privateKey: process.env.WALLET_PRIVATE_KEY,
      chainId: 4,
    });

const sdk = new SDK(auth);

const myNFTContract = await sdk.deploy({
   template: TEMPLATES.ERC721Mintable,
   params: {
     name: 'My NFT Contract',
     symbol: 'MYNFT',
     contractURI: 'https://MY_NFT_METADATA_URL',
   },
 });
console.log(`Contract address is: ${myNFTContract.contractAddress}`); Then, I run it with Node. Infura creates a smart contract for me and uploads it to Ethereum behind the scenes. After that, I just need to make sure I have some tokens for whichever I have specified in my code. In this case, the Rinkeby testnet (chainId: 4). From here, I could from this contract or gather the contract metadata. chainId mint NFTs This is a much easier method to create an NFT contract than writing Solidity code and deploying it myself! The NFT API also provides methods for from wallets, from one wallet to another, and a host of other . These include , , and . gathering NFT info transferring NFTs NFT methods adding an address to the minter list setting royalty info changing the contract URI Overall, it seems that Infura’s NFT API indeed helps improve my development workflow. Having all the necessary functionality for building and interacting with NFTs packaged together in an easy-to-use SDK is quite convenient! But enough about what it can do, let’s see how this API works! The Lootbox Project Along with the NFT API, Infura released an to demo its capabilities. All I will have to do is input an Infura project ID and secret, then connect my MetaMask wallet to the dapp frontend. Then the dapp uses the API to fetch all my NFTs to display nicely in the frontend. So to break that down, I will need the following things for this project: NFT Gallery Project on their Github An Infura account Infura Project ID and Secret A with NFTs in it MetaMask wallet extension Let’s get started! Step 1 - The Infura Project ID and Secret Before starting the Lootbox project, I want to gather the necessary items. So first, I’ll head to , log in, and create a new project. Then, I can grab the and for use later. infura.io Project ID Project Secret Step 2 - MetaMask This step will be quick because I already have the extension installed in my browser. If someone following along with this article doesn’t, however, head to and the extension for your specific browser. Then follow the steps to create a new account. metamask.io download Next, I’ll sign in and switch accounts to the wallet address that holds my NFTs. If you need to acquire an NFT, you can head to and buy one or try to create one yourself using the Infura NFT API 😉. Either way, you will need some ETH in your wallet. your favorite marketplace Step 3 - Setting Up The Project With all the prep work out of the way, I can start building the project. So next, I’ll clone the project repo onto my local machine. I’ll first navigate to the folder I want to work out of and then type the following command: git clone https://github.com/INFURA/nft-api-lootbox-gallery-app.git Next, I will change directories into the project folder and install dependencies using : yarn cd nft-api-lootbox-gallery-app
yarn After everything is installed, the last thing I need to do is create a file to store my environment variables and secrets. I’ll just copy the file that’s already there and add my variables to it. .env cp .env .env.local Now I’ll open up the project and add my and from my recently created Infura project. There’s also an option to input the Account Address of any wallet to view their NFTs, but I’ve got my own I want to see in the Lootbox NFT Gallery. Project ID Project Secret With all the setup out of the way, I can finally run the Lootbox project. But first, I want to browse through the code to see what’s happening under the hood. Step 4 - The Lootbox Code Based on the of the Lootbox project, the most important components are in the , , and files. So I’m going to browse those and see if I can figure out how this project uses the Infura NFT API. README file pages/index.tsx hooks/useWallet.ts pages/api/assets.ts After looking through these files, I can see the file contains the code which displays the frontend for the project. If the state variable is true, then it should display my NFTs. If it’s false, then it should display the welcome text with the button. This Connect Wallet button connects to some functions in the file, so I’ll check there next. pages/index.tsx showGallery Connect Wallet hooks/useWallet.ts In the file, I can see the function which is supposed to grab my NFTs. Specifically, the function. hooks/useWallet.ts getTokens const getTokens = async (accountAddress: string) => {
    try {
      const { data } = await axios.post('/api/assets', { accountAddress });
      return data.assets;
    } catch (error) {
      setTimeout(() => {
        setErrorMessage('Error getting tokens');
      }, 2000);
      return;
    }
  }; This function seems to make a POST request using a parameter from the file and return the results with my assets. So looking into the file, I can see where the NFT API is being used. /api/assets pages/api/assets.ts try {
    const { data } = await axios.get(  `https://nft.api.infura.io/networks/1/accounts/${accountAddress}/assets/nfts`,
      {
        headers: {},
        auth: {
          username: `${process.env.INFURA_PROJECT_ID}`,
          password: `${process.env.INFURA_PROJECT_SECRET}`
        }
      }
    );

    return res.status(200).json({
      assets: data.assets,
    }); This code calls the , using my and to access my account, and returns my NFTs in a JSON object. Following the path back to the file, if the function from doesn’t timeout, it will return my NFTs, switch the state variable to , and display my NFTs on the page. get function of the NFT API Infura Project ID Project Secret pages/index.tsx getTokens hooks/useWallet.ts setGallery true Cool! So I’ve got an idea of how it works, let’s see it in action! Step 5 - Running The Lootbox Project To run the project locally, I just need to type: yarn dev After navigating to , I can see a nice-looking frontend for the Lootbox Project. http://localhost:3000/ Clicking on prompts my MetaMask wallet to pop up to approve the connection request. Connect Wallet After connecting, it immediately starts fetching my tokens. This is the point where I now know the dapp is using the NFT API. Once the fetch is successful, it displays my NFTs in a fancy gallery, allowing me to browse and choose each one to get a better look at them. Neat! Conclusion My verdict on the Infura NFT API is that it's a tool that cuts down my development time, and there’s quite a bit I can do with it. It’s handy to build, mint, and interact with NFTs from an easy-to-use API. Although I am more familiar with building NFT contracts with Solidity and deploying them with Truffle, I can easily see how this would help smooth the transition of a Web2 dev into Web3. Using JavaScript rather than writing a smart contract will be a huge time saver for many Web2 developers. I would suggest trying the NFT API out for yourself. It’s still in private beta, but anyone can . For more information on its capabilities, you can check out or . register this YouTube demo Infura’s documentation Also published . here

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