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Accountable Care and Value-Based Purchasing Drives Adoption of Advanced Solutions for Health Data Analytics Finds Frost & Sullivan - Analytics convert data into insight, helping hospitals realize the greatest value from electronic health records - HealthcareIT.Frost.com
Accountable Care and Value-Based Purchasing Drives Adoption of Advanced Solutions for Health Data Analytics Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2012/08/16 - Analytics convert data into insight, helping hospitals realize the greatest value from electronic health records - HealthcareIT.Frost.com.

   
 
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The new era of health data analytics differs from the traditional business intelligence solutions utilized by hospitals to perform retrospective analysis. Advanced health data analytics encompass a more holistic approach whereby clinical data emerging from the growing adoption of electronic health records (EHRs) is combined with financial and administrative information so that a more well-rounded view of the quality and efficiency of patient care is presented for enhanced strategic decision-making. These new data analytics solutions include progressive real-time and predictive techniques, often provided by web-based systems that aggregate disparate data across diverse care settings.

New analysis from Frost & Sullivan's (healthcareIT.frost.com) U.S. Hospital Health Data Analytics Market research finds that the adoption of advanced health data analytics in U.S. hospitals will increase significantly over the next five years. In fact, Frost & Sullivan predicts that the usage of advanced health data analytics solutions in hospitals will grow significantly from 2011 to 2016, increasing from the baseline 10.0 percent adoption to 50.0 percent adoption in 2016. This represents a 37.9 percent compound annual growth rate and an increase of 400 percent over the baseline. Growth is expected to be driven by a combination of changes brought on by the increased use of EHRs.

If you are interested in more information on this research, please send an email to Britni Myers, Corporate Communications, at brini.myers[.]frost.com with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Today, many hospitals are still focused on laying the groundwork for their EHR systems and thus lack the appropriate tools and capabilities needed to turn clinical data into insight. Accordingly, the market for advanced health data analytics in U.S. hospitals is relatively nascent, with only a 10 percent adoption rate as of 2011. However, as the EHR market matures, hospitals will increasingly turn their attention to building out their capabilities in advanced analytics. They recognize that traditional approaches to providing patient care, measuring quality, and containing costs are inefficient to keep pace with the many emerging challenges.

"Hospitals will increasingly invest in advanced data analytics solutions to monitor end-to-end care delivery across a variety of settings," said Frost & Sullivan Connected Health Principal Analyst Nancy Fabozzi. "Due to growing competitive pressures, hospitals need to provide comprehensive reporting on performance and quality measures to a variety of stakeholders. Advanced analytics capabilities are absolutely critical for survival–there is no way to avoid it."

The U.S. Hospital Health Data Analytics Market research examines key trends and issues affecting the market for health data analytics in hospitals, including a review of market challenges, drivers and restraints through 2016. The comprehensive research also analyzes the impact of recent legislative mandates on the implementation and usage of IT, including brief profiles of technology vendors serving the market as well as growth forecasts for adoption. It addresses the needs of a range of market participants, including large and small IT vendors across the healthcare ecosystem in addition to payers, providers, consultants, policy makers and others in need of a better understanding of this new and important trend.

This research service is part of the Connected Health Growth Partnership Service program, which also includes research in the following markets: health information exchange, health data analytics, emerging wireless technologies, acute care information systems, enterprise clinical information systems, and billing and revenue cycle management systems. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on "the next big thing" | Register: Gain access to visionary innovation.

U.S. Hospital Health Data Analytics Market / NA03

 
 
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Accountable Care and Value-Based Purchasing Drives Adoption of Advanced Solutions for Health Data Analytics Finds Frost & Sullivan

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Publisher Contact: Britni Myers 
210-477-8481 brini.myers[.]frost.com
 
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