Healthcare analytics enters new age
The shift toward value-based care has sparked a demand for analytics like never before, according to a new report from research firm KLAS. The report, "Healthcare Analytics Perception 2014: Analytics for Value-Based Care-A New Paradigm," also points out that the demand has vendors rushing a wave of new products to market.
So many vendors entering the analytics marketplace gives providers more options than ever before, according to KLAS. Healthcare providers mentioned 87 separate vendors being considered for business intelligence and analytics in value-based care. No single vendor was mentioned more than 7 percent of the time.
The KLAS report aims to make sense of the growing vendor crowd and provide insights into the most-considered vendors, KLAS executives say.
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"Business intelligence and analytics have gone from a 'nice-to-have' to a 'must-have' in today's challenging healthcare environment," said Joe Van De Graaff, author of the report, in a statement. "To fulfill short-term analytics needs, many providers report shifting more consideration to vendors with healthcare-specific solutions. However, a clear market leader has yet to emerge."
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KLAS spoke to more than 100 healthcare providers to capture which vendors they are considering and in which specific arenas. Cross-industry BI/analytics vendors discussed in this study include Dimensional Insight, IBM, Information Builders, Microsoft, Oracle, SAP, SAS and Tableau. Healthcare-specific/niche vendors discussed in this study include Advisory Board, Explorys, Health Catalyst, Optum, Premier and Truven Health Analytics. EMR vendors include Allscripts, Cerner, Epic, McKesson and Siemens.