IDC Rates Analytics Among Top Areas of Spending Growth

April 15, 2015
IDC Health Insights estimates an annual growth rate of 8-11% in the analytics market--placing analytics among one of the top areas of spending growth in healthcare in this decade.

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."

Sponsored Recommendations

Care Access Made Easy: A Guide to Digital Self-Service for MEDITECH Hospitals

Today’s consumers expect access to digital self-service capabilities at multiple points during their journey to accessing care. While oftentimes organizations view digital transformatio...

Going Beyond the Smart Room: Empowering Nursing & Clinical Staff with Ambient Technology, Observation, and Documentation

Discover how ambient AI technology is revolutionizing nursing workflows and empowering clinical staff at scale. Learn about how Orlando Health implemented innovative strategies...

Enabling efficiencies in patient care and healthcare operations

Labor shortages. Burnout. Gaps in access to care. The healthcare industry has rising patient, caregiver and stakeholder expectations around customer experiences, increasing the...

Findings on the Healthcare Industry’s Lag to Adopt Technologies to Improve Data Management and Patient Care

Join us for this April 30th webinar to learn about 2024's State of the Market Report: New Challenges in Health Data Management.