Essay on The Healthcare Industry : The Middle Of A Data Revolution

Essay on The Healthcare Industry : The Middle Of A Data Revolution

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The healthcare industry is currently in the middle of a data revolution. With the emergence of electronic health records, health information exchanges, and other information databases, health organizations are overwhelmed by the amount of data they have and are eagerly looking for more efficient ways to turn that raw data into actionable information that can be used to improve their organization 's performance. According to a Health IT Analytics article (2015), the market for health analytic solutions in healthcare is booming and it is estimated that by 2018 the market will reach 20.81 billion dollars and adoption of clinical & business intelligence solutions has increased from 46% in 2013 to 52.1% in 2015 (Bresnick, 2015).
Health analytic solutions are helping transform many area’s of an organization 's business from how physicians treat patients to how money is collected. According to the same HIMSS Analytic study, the four main areas where organizations are focusing their BI solutions are; population health management, accountable care, predictive analytics, and revenue cycle management (Bresnick, 2015).
This paper will explore the various causes for this industry 's boom such as the increase in electronic health record implementation, changes in reimbursement systems, and government reporting regulations. As well as discuss who the vendors are and the changing dynamics between established electronic health record companies and dedicated analytic companies.
Reasons for Industry Boom
Within the last 3-4 years, there has been a major increase in the number of health organizations that utilize a clinical and business intelligence solution. While there are many factors that contribute to this growth, the main ones are: The HITE...


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...IT Analytics. Retrieved from http://healthitanalytics.com/news/healthcare-big-data-analytics-adoption-rises-by-6-since-2013
Bresnick, J. (2015, November 19). Which Vendors Lead the Healthcare Big Data Analytics Market?. In Health IT Analytics. Retrieved from http://healthitanalytics.com/news/which-vendors-lead-the-healthcare-big-data-analytics-market
Fitzgerald, B. (2015, May 26). Infographic: The future of clinical & business intelligence in healthcare. In Healthcare IT News. Retrieved April 17, 2016, from http://www.healthcareitnews.com/blog/future-clinical-business-intelligence-healthcare
Perna, G. (2015, June 9). For Clinical and Business Intelligence Adoption, Best of Breed Makes Inroads. In Healthcare Informatics. Retrieved April 17, 2016, from http://www.healthcare-informatics.com/article/clinical-and-business-intelligence-adoption-best-breed-makes-inroads

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