Healthcare analytics is used to analyse the data collected from the four key areas of healthcare viz. R&D, clinical, patient sentiment and behaviour, and cost. The aim of the healthcare organizations is to improve the clinical care without spending in excess. As such, these organizations are determined to gain critical insights into data generated from various sources and take decisions based on them. At present, the focus has expanded to other areas such as supply chain, financial, fraud and HR as well.
The rise in number of patient registries and increasing focus of healthcare organizations on value based medicine has prompted them to invest in healthcare analytics. The advancements in cloud solutions plays a major role in the growth of adoption rate. Few organizations also want to gain insights from social media to look for newer opportunities. Although, lack of highly skilled professionals, and relatively high cost of the solutions are hindering the growth of the healthcare analytics market.
Requirements to limit healthcare spending, rise in government initiatives to augment EHR adoption, need for better treatment outcomes, rise in volumes of data, and technological advancement in big data and cloud are the major drivers for the growth of healthcare analytics market. The market is segmented by applications, type, component, delivery, end users and regions. Some of the top healthcare analytics market vendors are SAS, IBM, Truven Health Analytics, Optum, McKesson and Cerner.
The study covers and analyses the “Healthcare Analytics” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.