Analytics in Healthcare Enhancing Preventive Care

Publisher: The Insight Partners

Analytics plays a vital role for healthcare, effective use of analytics in the healthcare industry can improve current care but more importantly can facilitates preventive care. Healthcare analytics is an evidence-based strategy for collecting data from multiple sources and it helps in analysis which indicate certain patterns for effective and improvised healthcare interventions. It has been widely used for drawing inferences from realistic data which has been measured by analytical procedures. The analytics techniques is classified as predictive, prescriptive and descriptive techniques. Digitization of the clinical data which are available in variety of clinical records such as lab result, administrative, images, reports and financial information which help in the paperless source of healthcare intelligence. Technological advancement such as big data, Internet of Things (IoT), cloud computing and others have changed the way industries perform their businesses. Healthcare is one of those industries which are slowly adopting to new way of digitization. Analytics in healthcare can be used in many fields such as public health, electronic medical record (EMR), patient profile analytics, fraud analysis and safety monitoring.

Some of the key players which dominates healthcare analytics market are:- Allscripts Health Solution, Cerner Corporation, Health Catalyst, IBM Corporation, Inovalon, Inc., Mckesson Corporation, Medeanalytics, Optum, Inc., Oracle Corporation and SAS Institute,Inc.

Healthcare analytics market is segmented on the basis of type which includes predictive, prescriptive and descriptive and further breakdown as deployment model as on-premises and on- demand delivery. Similarly, the market is further segmented on the basis of application such as clinical analytics, financial analytics, operational and administrative analytics and others.

One of the major driving factor fueling the growth of healthcare analytics is increasing government initiatives to increase HER adoption. In addition to this there are several other factors surging the growth of healthcare analytics are increasing venture capital investments, rising focus on improving patient outcomes, and technological advancements, Increasing usage of data sharing platforms such as social media platforms, blogs, and professional networks has allowed sharing health related information, availability of Big Data in healthcare has led to requirement for analytics. However the factors hindering the growth of healthcare analytics are high cost of these solution and lack of skilled analytics. These technologies comes with number of opportunities such as easy recoding and maintenance, centralized database, increasing investments, and others. Thus advancement of these technologies will bridge the gap between payers and providers, while befitting both in long run

The market is segmented into major regions that include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). The major countries included are considered in the scope of the study such as U.S, Canada, Mexico, France, Germany, Italy, Spain, UK, China, Japan, India, Australia, South Arabia, UAE, South Africa and Brazil.