Challenges in Software Monetization

The healthcare sector faces challenges in monetizing software due to its historical focus on hardware in medical devices. In this evolving landscape, companies are integrating advanced technologies such as IoMT connectivity, cloud infrastructure, and AI capabilities into their offerings. However, many organizations struggle to establish a software-driven business model and justify investments in digital capabilities, as traditional revenue streams have primarily stemmed from the sale of hardware. This shift necessitates a reevaluation of financial strategies to lay a foundation for recouping costs through software and digital services.