Yesterday, IDC Health Insights announced the release of its newest IDC MarketScape report, IDC MarketScape: U.S. Healthcare Provider Clinical and Financial Analytics Standalone Platform Vendor Assessment, highlighting analytics spending growth for hospitals and health systems this decade. IDC estimates that the analytics market will see a combined annual growth rate of 8-11% between 2010-2020--and evaluated a variety of popular analytics platforms that allow providers to consider both clinical and financial data in order to optimize healthcare spend and quality of care.
The analytics market has grown rapidly, spurred by the introduction of accountable care. These tools can help health systems become more agile--and respond to the changes and disruptions brought by the patient protection and affordable care act (PPACA) of 2010. The report highlights the various forms of analytic platforms, how such solutions will not meet all needs out-of-the-box, how to create valuable, actionable data, and why flexible toolsets are so important.
"Analytics are clearly a critical tool that will allow health systems to understand and respond to the business model change and disruption of accountable care, and many types of analytics models and tools will likely be useful to providers," says IDC Health Insights Research Director Judy Hanover. "As accountable care initiatives advance, the ability to look at clinical and financial data together on the same platform, to dive deeper into costs of operations, and leverage analytics in decision making will become vital to success."
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