KLAS: Healthcare Analytics Market Enters New Frontier of Value-Based Care | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

KLAS: Healthcare Analytics Market Enters New Frontier of Value-Based Care

April 24, 2014
by Rajiv Leventhal
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As the healthcare industry shifts towards value-based care, providers' analytics needs are drastically changing, resulting in vendors rushing to the market with a wave of new products, including more targeted solutions, according to a new report from the Orem, Utah-based KLAS research.

The healthcare analytics market is bursting with vendors, giving providers more options than ever before, according the report, which includes insight from more than 100 healthcare providers. In fact, in this perception study, providers mentioned 87 different vendors being considered for business intelligence (BI)/analytics in value-based care. To that point, no single vendor was mentioned more than 7 percent of the time.

Providers are shifting more consideration to vendors with healthcare specificity and mostly prebuilt products, the report says. Among the 87 different vendors in this report, Optum, McKesson, and Advisory Board are considered most for accountable care organization (ACO) and population health analytics. Additionally, most providers feel that big data is vague but anticipate needing to consider its role in the future. Large, cross-industry BI vendors—such as IBM, Oracle, and SAP—are thought of most for big data. Providers see staying power, not healthcare focus, as the key benefit of these vendors.

Further, 22 percent of providers indicate considering an electronic medical record (EMR) vendor for analytics. McKesson is being considered the most, boosted by their BI and MedVentive products. Cerner’s foray into population health is getting looks as well, while the appeal of Epic comes from ACO use. Siemens and Allscripts trail behind in overall mindshare, but each still received early mentions for population health. Providers’ approach to analytics in the new paradigm involves multiple vendors and products. Still, only about one-third of providers in this study are considering BI consulting help. Only three vendor names were mentioned at least three times: Cerner, Deloitte, and Encore.

Business intelligence and analytics have gone from a 'nice-to-have' to a 'must-have' in today's challenging healthcare environment," Joe Van De Graaff, report author, said. "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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