The healthcare and life sciences industry generates vital data related to human beings, in the form of text, numeric files, images, and codes. Previously, this data was in paper form; however, with the technological advancements, the data generated now is mostly digital. Healthcare data is generated from different sources and is stored over a distributed network. Sometimes, the same data exists in different systems and different formats; for instance, clinical data and claim data contain same information, but exist in different formats. In future, this pool of data is expected to increase, due to increasing data sources, such as fitness monitors, health sensors, health applications, e-health cards, and insurance data. This diverse dispersed data will be difficult to access, manage, and share; thus, the need for effective data management arises in the healthcare industry. Data sharing is also a concern, as it is private and confidential data of an individual, and breach of this data could have serious consequences. In order to efficiently and securely manage, store, and share the data, organizations and institutions in this industry need an effective all-in-one DAM solution, which would also provide benefits, such as cross team collaboration, streamlined efficiency, and better resource allocation.