Healthcare Analytics Market 2017 – Research Methodology, Market Dynamics, Key Players, Segmentation and Forecast 2022

“”Healthcare Analytics “”
This report provides major statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

Healthcare analytics is one of the emerging areas of healthcare services. It extensively uses information technology tools, data, statistical and qualitative analysis, explanatory and predictive modeling. The analytics help the healthcare organizations in reducing the hospital stays of patients, meeting regulatory compliance, improved quality care, preclusion of chronic diseases, and fraud detection.

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Global healthcare analytics market is segmented into tool types, applications, components, delivery modes, end users and geography. Tool types market is further partitioned into descriptive, predictive and prescriptive analytics. Components are classified into hardware, software and services segments. Mode of delivery is segmented into on-promise, web-hosted and cloud-based models. Depending on the end users, the healthcare analytics market is sectioned into payers, providers, HIE and others.

This report studies the global healthcare analytics market over the forecast period 2015 to 2022. The market is expected to grow at a double digit CAGR to reach $33,542 million by 2022. Federal healthcare mandates, rising healthcare costs and pressure to reduce, emergence of big data and advancements in analytical technologies, digitalization of healthcare, personalized medicine are some of the factors driving the healthcare analytics market growth. Factors such as security issues and data breaches, lack of skilled labor with analytical skills, lack of patient data confidentiality and transparency, lack of interoperability, functional gap between payers and providers, increase in governmental regulation, and reimbursement issues are hampering the market growth.

Geographically the market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America dominated the healthcare analytics market with a largest share which is driven by U.S. centralized healthcare mandates such as the Patient Protection and Affordable Care Act (PPACA) and meaningful use. These initiatives assist to improve the acceptance of Electronic Health Records (EHRs) and Healthcare Information Exchange (HIE), thus improving the usage of analytics to influence the generated data. The European market is expected to be the second largest market, growing at a lower rate mainly due to the economic crisis. The Asian market is fairly new to medical analytics; however, the increasing IT skills, outsourcing trend and healthcare IT adoption will force this market to emerge into fast growing market in the future.

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The healthcare analytics market is a fragmented market with key players operating in the field of EHR & EMR platforms, cross-vertical service providers and healthcare analytical tool/service providers. The major players in the market are Allscripts Healthcare Solution, Inc. (U.S.), Cerner Corporation (U.S.), Epic Systems (U.S.), IBM Corporation (U.S.), Information Builders, Inc. (U.S.), McKesson Corporation (U.S.), MedeAnalytics, Inc. (U.S.), Oracle Corporation (U.S.), Optum, Inc. (U.S.), and Verisk Analytics (U.S.).

Table Of Content

1 EXECUTIVE SUMMARY 25

2 INTRODUCTION 30

    2.1 KEY TAKE AWAYS 30

    2.2 REPORT DESCRIPTION 30

    2.3 MARKETS COVERED 32

    2.4 STAKEHOLDERS 34

    2.5 RESEARCH METHODOLOGY 34

      2.5.1 MARKET SIZE ESTIMATION 36

      2.5.2 MARKET CRACK DOWN & DATA TRIANGULATION 38

      2.5.3 SECONDARY SOURCES 39

      2.5.4 PRIMARY SOURCES 39

      2.5.5 KEY DATA POINTS FROM SECONDARY SOURCES 40

      2.5.6 KEY DATA POINTS FROM PRIMARY SOURCES 41

      2.5.7 ASSUMPTIONS 41

3 MARKET OVERVIEW 43

    3.1 INTRODUCTION 43

    3.2 MARKET SEGMENTATION 44

    3.3 FACTORS INFLUENCING MARKET 46

    3.4 MARKET DYNAMICS 47

      3.4.1 DRIVERS & OPPORTUNITIES 47

          3.4.1.1 Federal healthcare mandates in the U.S. 47

          3.4.1.2 Increasing healthcare costs and pressure to reduce expenditure. 48

          3.4.1.3 Digitization of healthcare, emergence of big data and analytics 48

          3.4.1.4 Proliferation of cloud computing 49

          3.4.1.5 Population Health Management (PHM) 49

          3.4.1.6 Personalized medicine or precision medicine 49

          3.4.1.7 Rising incidence of ageing population 50

      3.4.2 RESTRAINTS AND THREATS 50

          3.4.2.1 Data breach, security issues and transparency issues 50

          3.4.2.2 Interoperability issues 51

          3.4.2.3 High cost of implementation and adoption barriers 51

          3.4.2.4 Shortage of skilled labour 52

          3.4.2.5 Complex government regulations 53

      3.4.3 TECHNOLOGICAL ADVANCEMENTS 53

          3.4.3.1 Cloud technology 53

          3.4.3.2 Wearable patient monitoring device analytics 54

          3.4.3.3 Healthcare mobile apps and telemedicine 55

          3.4.3.4 Cognitive computing 55

          3.4.3.5 Image analytics 56

    3.5 PORTER’S FIVE FORCE ANALYSIS 57

      3.5.1 THREAT OF NEW ENTRANTS 58

      3.5.2 THREAT OF SUBSTITUTES 58

      3.5.3 RIVALRY AMONG EXISTING COMPETITORS 58

      3.5.4 BARGAINING POWER OF SUPPLIERS 58

      3.5.5 BARGAINING POWER OF BUYERS 59

    3.6 REGULATORY AFFAIRS 59

      3.6.1 U.S. 59

      3.6.2 EUROPE 60

      3.6.3 CHINA 61

      3.6.4 INDIA 62

    3.7 MARKET SHARE ANALYSIS 64

4 GLOBAL HEALTHCARE ANALYTICS MARKET, BY TOOL TYPE 66

    4.1 INTRODUCTION 66

    4.2 DESCRIPTIVE ANALYTICS 69

    4.3 PREDICTIVE ANALYTICS 71

      4.3.1 PREDICTIVE ANALYTICS PROCESS 73

    4.4 PRESCRIPTIVE ANALYTICS 75

5 GLOBAL HEALTHCARE ANALYTICS MARKET, BY APPLICATION 77

    5.1 INTRODUCTION 77

    5.2 CLINICAL DATA ANALYTICS 82

      5.2.1 QUALITY CARE 86

      5.2.2 MEDICAL ERROR REDUCTION 88

      5.2.3 PHYSICIAN PERFORMANCE EVALUATION 90

      5.2.4 CLINICAL DECISION SUPPORT SYSTEM (CDSS) 92

      5.2.5 POPULATION HEALTH MANAGEMENT 93

      5.2.6 CUSTOMER RELATIONSHIP MANAGEMENT 95

    5.3 FINANCIAL ANALYTICS 97

      5.3.1 CLAIMS ANALYTICS 101

      5.3.2 REVENUE CYCLE ANALYTICS 103

      5.3.3 RISK ANALYTICS 105

    5.4 ADMINISTRATIVE/OPERATIONAL ANALYTICS 107

      5.4.1 SUPPLY CHAIN ANALYTICS 110

      5.4.2 HUMAN RESOURCE/ WORKFORCE ANALYTICS 112

      5.4.3 PRACTICE MANAGEMENT ANALYTICS 114

      5.4.4 STRATEGIC ANALYTICS 116

    5.5 RESEARCH ANALYTICS 117

    5.6 OTHERS 119

6 GLOBAL HEALTHCARE ANALYTICS MARKET, BY COMPONENT 120

    6.1 INTRODUCTION 120

    6.2 HARDWARE 123

    6.3 SOFTWARE 125

    6.4 SERVICES 128

……Continued

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