According to analysis and research from the Mountain View, Calif.-based Frost & Sullivan, accountable care and value-based purchasing is driving the adoption of advanced data analytics. The advanced data analytics, Frost & Sullivan say, comes from a more ‘holistic approach’ that allows clinical data to emerge from clinical data within EHRs, and is combined with financial and administrative information.
This move will leave a more well-rounded view of the quality and efficiency of patient care, presented for enhanced strategic decision-making, Frost & Sullivan says. The firm predicts 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 is growth of 37.9 percent compounded annually, which may increase as more providers adopt EHRs.
"Hospitals will increasingly invest in advanced data analytics solutions to monitor end-to-end care delivery across a variety of settings," Frost & Sullivan connected health analyst Nancy Fabozzi, said in a statement. "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 study is part of the U.S. Hospital Health Data Analytics Market research, which 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.