(PharmaNewsWire.Com, March 20, 2018 ) Healthcare Analytics industrial chain, this report mainly elaborate the definition, types, applications and major players of Healthcare Analytics market in details. Deep analysis about market status (2012-2017), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2017-2022), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Healthcare Analytics market.
Health care analytics is a term used to describe the healthcare analysis activities that can be undertaken as a result of data collected from four areas within healthcare; claims and cost data, pharmaceutical and research and development (R&D) data, clinical data (collected from electronic medical records (EHRs)), and patient behavior and sentiment data (patient behaviors and preferences, (retail purchases e.g. data captured in running stores). Health care analytics is a growing industry in the United States, expected to grow to more than $18.7 billion by 2020. The industry focuses on the areas of clinical analysis, financial analysis, supply chain analysis, as well as, fraud and HR analysis. The current largest players in the market are medical consulting and medical software companies (IBM Corporation, SAS Institute, Inc. Optum, Inc, Truven Health Analytics Inc., Cerner Corporation, and McKesson Corporation) who have the ability to extend their reach with already existing customers.
Health care analytics allows for the examination of patterns in various healthcare data in order to determine how clinical care can be improved while limiting excessive spending.
Citing consultant George Zachariah from Dynamics Research Corporation, Healthcare IT News noted several potential benefits from health care analytics: 1) “cut[ting] down administrative costs,” 2) “clinical decision support,” 3) “cut[ting] down on fraud and abuse,” 4) “better care coordination,” and 5) “improv[ing] patient wellness.”[2] A research article by Betty Jo Rochio further discussed how data analytics could be used to lower costs by “reduc[ing] variation in supplies, labor, and overhead.
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