Even though the business intelligence (BI) market segment is still only in its infancy, it has recently moved to the forefront of awareness in healthcare technology as healthcare providers work to deliver even higher quality patient care while controlling costs. The challenge is exacerbated by increased regulatory requirements, the heightened need for industry benchmarking, and pay for performance initiatives.
Additionally, organizations are keenly interested in overall performance improvement, but they find the current reporting solutions limited in scope and depth. Most concluded that a new level of data aggregation, analysis and reporting across the enterprise is needed to fulfill existing and future requirements. Thus, most of those interviewed are turning to enterprise business intelligence solutions.
The opportunity for BI in healthcare is wide open. Forty-five percent of respondents reported having an evolving BI strategy, 23 percent have a defined strategy, and 32 percent report having no strategy or that it is too early to tell. With all of the recent acquisitions, providers do not know what to expect from the new owners, putting both the market and the players in flux simultaneously. Although provider organizations feel the need to implement these solutions, a proven set of best practices has yet to be developed to guide them along this path.
For this study, KLAS spoke with more than 150 healthcare professionals regarding the enterprise business intelligence vendors they would consider, what their strategy for BI would be, and how they would implement their strategy. Almost 40 percent of participating organizations were hospitals with over 500 beds, and 86 percent were hospitals with over 200 beds.
The top ten considered vendors in the research were Avega (MedAssets), Business Objects (SAP), Cerner, Cognos (IBM), Eclipsys, Lawson, McKesson, Microsoft, Oracle, and Siemens. Other vendors also included in the report were Dairyland, Dimensional Insight, Epic, EPSi, GE (IDX), GoldenGate, Hyperion, i2b2, Information Builders, IntraNexus, Keane, MedeFinance, MediSolv, Meditech, NextGen, Pentaho, PowerHealth, Precision.BI, QlikTech, QuadraMed, SAP, SAS, SIS, and Sybase.
KLAS is a research firm specializing in monitoring and reporting the performance of healthcare vendors. KLAS’ mission is to improve delivery, by independently measuring vendor performance for the benefit of our healthcare provider partners, consultants, investors, and vendors. Working together with executives from over 4500 hospitals and over 2500 clinics, KLAS delivers timely reports, trends, and statistics, which provide a solid overview of vendor performance in the industry. KLAS measures performance of software, professional services, and medical equipment vendors. For more information, visit our website, email marketing, or call 1-800-920-4109 to speak with a KLAS representative.
All KLAS data and reports are © 2008 KLAS Enterprises, LLC. All rights reserved.