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Salesforce to make big push into healthcare industry

28/10/2014 by

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Salesforce Inc is betting big on healthcare, hiring key personnel and ramping up investment in hopes of replacing outmoded medical industry infrastructure and carving out a $1 billion annual business.

Its push into healthcare follows years of attempts by rival software providers, including Microsoft Corp, to break into healthcare with everything from personal health records to hospital information systems. They have had mixed results.

Now Salesforce aims to bring in $1 billion in yearly revenues in coming years - about a fifth of its current annual sales - from health contracts, two people briefed on its plans told Reuters. The company expects to make such inroads despite entrenched competition and its own false starts in the sector, these sources said.

Salesforce declined to comment on revenue targets or its planned investment in the business.

The company also would not say how many employees are in its health and life sciences unit, but a LinkedIn search shows it has recruited over a dozen people from the health and medical device sectors. Its healthcare head, Todd Pierce, was formerly chief information officer at biotech giant Genentech, a Roche subsidiary.

Salesforce is trying to sustain the red-hot growth that's given it among the highest valuations in software with a price/earnings ratio of more than 100 times for its current fiscal year.

Salesforce executives and sources briefed on its plans say the company is already selling new software to the Department of Health and Human Services and insurers including Blue Shield of California. In April, it announced an alliance with Philips to develop medical applications.

Salesforce now wants to help customers pull data into one place and determine how it can be used to serve and talk to patients. This sales push has already begun.

The University of California at San Francisco, for instance, rolled out CareWeb Messenger, built on top of Salesforce's technology, through which doctors, nurses and patients talk online and on mobile devices. UCSF and Salesforce have close ties: in April, CEO Marc Benioff donated $100 million to its children's hospital.

Salesforce will reveal more about its plans in November, Pierce said.

He told Reuters the company sees a growth opportunity developing tools for professionals to care for patients once they leave the doctor's office. The company is also developing analytics to crunch data about patients.

The healthcare industry has been resistant in the past to approaches from Silicon Valley. But federal legislation such as the Health Information Technology for Economic and Clinical Health - which sets aside billions of dollars in incentives to spur the adoption of electronic health systems - may turn the tide.

"Salesforce could really have some success in this area," said Missy Krasner, managing director of healthcare and life sciences at online storage provider Box, which is exploring similar opportunities. Krasner said health systems are realizing that current systems are "ridiculously bad."

This article has been extracted from http://www.dailymail.co.uk, please click on this link to read the article in full http://www.dailymail.co.uk/wires/reuters/article-2809390/Salesforce-make-big-push-healthcare-industry.html.

Montash is a multi-award winning, global IT recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy & Technologies, Demand IT and Business Engagement, Digital and E-commerce, Leadership Talent, Infrastructure and Service Delivery, Project and Programme Delivery.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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