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Classified in: Health, Science and technology, Business
Subject: SVY

Leading Analytics Vendors' Capabilities Expand the Value of Healthcare Provider Data and Reach of Applications to Address Enterprise Performance Management


BOSTON, March 20, 2019 /PRNewswire/ -- Chilmark Research's latest report, 2019 Healthcare Provider Analytics Market Trends Report, reveals that vendor analytics and reporting solutions are rapidly evolving to serve provider needs for enterprise performance management (EPM). While value-based care (VBC) initiatives remain the driving business reason for analytics adoption, leading healthcare organizations (HCOs) today recognize the need to expand the use these tools to achieve performance improvements in a variety of clinical, financial, and operational use cases.

Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls, and are respected in the industry for our direct and thoughtful commentary. For more information visit:  http://www.chilmarkresearch.com . (PRNewsFoto/Chilmark Research) (PRNewsFoto/Chilmark Research) (PRNewsFoto/Chilmark Research)

Our extensive research for this report uncovered a market wherein today's leading analytics applications are beginning to address broader needs than just VBC. This is causing greater separation in the relative capabilities of vendor solutions in the market today, with some vendors still primarily focused on VBC and care management needs, while others move to address EPM.

Analytics Across the Continuum
This comprehensive report provides an overview of the market for provider enterprise analytics and evaluates offerings from 23 vendors. It finds that vendor offerings mirror EHR penetration. Providers in acute and ambulatory settings have many choices for analytics across multiple use cases. Providers in post-acute settings and others with low-EHR penetration have relatively fewer choices.

EHR vendors are often, but not always, providers' first choice for analytics and reporting often due to perceived workflow integration and existing relationship. But independent vendors ? not owned by an EHR vendor or a payer ? are a strong alternative to EHR companies. These best-of-breed vendors often provide unique, highly focused solutions. In all applications, vendors provide ways to improve costs, quality, and utilization performance.

Traditional and Advanced Analytics
This report characterizes current analytic solutions as either "mainstream" or "advanced." Most HCOs have experience with mainstream analytics ? applications that characterize and summarize current performance. While the underlying technology and general approach is well-established, mainstream analytics has yet to supply a robust predictive insight and prescriptive guidance; for that, HCOs are looking at advanced analytics.

Advanced analytics consists of interrelated technologies, the most common of which are artificial intelligence/machine learning, natural language processing (NLP) and extraction, and big data technologies. These technologies and techniques, while not widely deployed in healthcare, are all used to varying degrees by most of the vendors profiled in this report. The expectation is that as these technologies mature, advanced analytics will offer more accurate predictive and prescriptive capabilities.

Realizing the full value of these tools remains a challenge, however, as HCOs find that current analytics tools are excellent at identifying areas for improvement, but still rely on provider leadership to build support for organizational and process change. According to Brian Murphy, Director of Research and lead report author, "Healthcare enterprises, recognizing the potential value of the increasing volumes of data they hold, are expanding their use of mainstream and advanced analytics to more use cases and more user groups."

Provider organizations will find the full report offers deep insight into the technologies that can help support a variety of different performance improvement efforts. Analytics vendors will find the market outlook and vendor profiles particularly valuable for understanding the competitive dynamics of the HCO analytics market. Payers and government representatives would also find the report useful for benchmarking industry capabilities to support innovative payment programs and emerging use cases.

The report is available to subscribers of the Chilmark Advisory Service or can be purchased separately. Please contact John Moore at john3@chilmarkresearch.com for purchasing information. To read more or download a preview, please view the report page. A webinar accompanying the report release is scheduled for Tuesday, April 2nd, 2019.

Vendors Profiled: Allscripts, Arcadia, athenahealth, CareEvolution, Cerner, Change Healthcare, eClinicalWorks, Epic, Forward Health Group, Health Catalyst, HealthEC, IBM Watson Health, Innovaccer, Lightbeam, MedeAnalytics, Medecision, MEDITECH, NextGen, Optum, Philips, SCIO Health Analytics, SpectraMedix, and SPH Analytics.

About Chilmark Research:
Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls and are respected in the industry for our direct and thoughtful commentary. For more information, visit: www.chilmarkresearch.com/

Media Contact: 
Brian Murphy
brian@chilmarkresearch.com 
(617) 615-9344

 

SOURCE Chilmark Research


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