An increase in usage of EHRs across clinics along with the need to build up patient data has attributed to this. – Clinical analysis segment accounts for maximum growth in terms of usage. – According to a report by Stratistics MRC, the overall market share of business intelligence in healthcare is set to see an increase of about 17.4% from $3.75 billion in 2017 to $15.88 billion by 2026. Growth of Business Intelligence from 2017 to 2026 in Healthcare Earlier, understanding logistics data was genuinely a tough job but after implementation of BI, data like driving behavior, routing and scheduling, turnaround time, utilization reports, financial reports, and fuel analysis reports can be easily determined and over a period of time BI has played a crucial role in Healthcare industry as well. The review presented is based on the findings of a TMR report, titled “Healthcare BI Platform Market (By Function – Clinical Analytics, Financial Analytics, Operational Analytics, and Others By Deployment Type – On-premise and Cloud By Model Type -Self-service BI and Corporate BI) – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 – 2023.Something similar happens in the logistics and transportation industry.
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However, reforms in government policies and efforts to upgrade healthcare infrastructure is likely to fuel the growth of healthcare BI platform market in emerging economies in the near future. Lack of technological support and poor infrastructure for upgrade of business processes have been key reasons behind the lackluster growth of healthcare BI platform market in these regions. So far, emerging economies and less-developed economies have slow pace of adoption of healthcare BI platforms.
Due to such amends, healthcare establishments are compelled to adopt advanced healthcare BI platforms. that came into effect in 2010, the healthcare industry needs to replace outdated healthcare platforms with newer ones. For example, according to the Affordable Care Act in the U.S. are also boosting the uptake of healthcare BI platforms. Government regulations in several countries such as the U.S. Government Reforms in Developing Countries to Improve Healthcare Services to stoke demand This boosts the healthcare BI platform market.
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The patient data if processed using business intelligence software can help improve services for clinical performance, patient management, disease management, and cost and waste reduction.įor More Details, Request A PDF Brochure Report Īs healthcare institutions realize the importance of business intelligence to deliver par excellence services in a number of service areas, the adoption of healthcare BI platform is on the rise. Healthcare decision makers are increasingly recognizing the potential of patient data for business intelligence. This vast volume of data generated in both fully and partially digitized healthcare establishments needs to be utilized for critical business decision making. Majorly fuelling the healthcare BI platform market is the massive volumes of data generated by healthcare institutions. Need to Improve Healthcare Outcomes across Service Areas boosts demand This is mainly because of early uptake of technology-driven solutions generally in the region across industries. Geography-wise, North America held the leading 47.8% of the overall market in 2014. This is mainly because of ease of use, low cost, and ability to serve several subscribers at one time. However, the cloud deployment segment is likely to outshine in terms of share over the forecast period. On the basis of deployment, on-premise deployment segment led the market in 2014 in terms of revenue. At this pace, the market’s valuation of US$1.5 bn in 2014 is likely to become US$3.9 bn by 2023 vis-à-vis revenue. The TMR report estimates the global healthcare BI platform market to rise at an impressive 11.7% CAGR for the 2015-2023 forecast period. Some prominent players operating in the global healthcare BI platform market are Microsoft Corporation, Oracle Corporation, SAP SE, Information Builders, OpenText Corporation, IBM Corporation, and SAS Institute Inc. Healthcare BI solutions integrated at the origin of services help create robust healthcare systems. These large players are leveraging the cloud business model to provide healthcare BI solutions that can be accessed irrespective of location.Īpart from this, savvy players are entering into partnerships with hospital groups and healthcare bodies to integrate healthcare BI solutions at the core of services. In an intensely competitive healthcare business intelligence (BI) platform market, large players are aggressively focused on expanding their geographical outreach, says Transparency Market Research (TMR) in a new market intelligence report. Healthcare BI Platform Market Study Available In New Report
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