Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

Market Research Report - Healthcare Analytics Market to Reach $10.8 Billion by 2017


Print article Print article
© Marketwire 2012
2012-12-04 10:10:00 -

ROCKVILLE, MD -- (Marketwire) -- 12/04/12 -- MarketResearch.com has announced the addition of the market research : www.marketresearch.com/ report " Healthcare Analytics/Medical Analytics Market - Trends & Global Forecasts to 2017 : www.marketresearch.com/land/product.asp?productid=7256888&pr .. ," to their product offering.



Healthcare organizations have large amounts of data but often do not have the tools to bring the data together for useful business information and planning. Healthcare analytics is the systematic use of data and related business insights developed through applied analytical disciplines such as, statistical, contextual, quantitative, predictive, cognitive, other including emerging model to drive fact-based decision making for planning, management, measurement and learning. Analytics may be descriptive, predictive or prescriptive.





Healthcare analytics involves application of statistical tools and techniques to healthcare-related data in order to study past situations such as operational performance or clinical outcomes to improve the quality and efficiency of clinical and business processes and performance.



The healthcare analytics market is showing a double-digit growth due to supportive elements such as digitization of world commerce, the emergence of big data and the advance of analytical technologies. Healthcare organizations can differentiate themselves through data analytics. Factors such as, federal healthcare mandates, wide scope of predictive analytics and improvements in the financial and operative function are driving the installation of healthcare data analysis in hospitals. While, the major concerns of this market are the security of data, privacy of individual patients and lack of manpower with cross-functional analytical skills. The healthcare analytics market is estimated to be $3.7 billion in 2012 and is growing at a rate of 23.7% from 2012 to 2017 to reach $ 10.8 billion.



Healthcare payers as well as the providers are leading the users of health care analytics for a range of functions from suggesting the most accurate diagnoses, cost reduction, fraud prevention, revenue generation, service improvement to real-time view of the business. The major driver for business analytics is the return on Investments (ROI), with a median of five years, from 10.0% to 1,000.0%.



The American Recovery and Reinvestment Act of 2009 (ARRA) offers incentives for hospitals and physicians who adopt technology and document related to patient safety, coordination, and quality of care. Data analytics tools are becoming an attractive purchase for decision makers, even in an economic climate forcing hospital budget cuts, layoffs and closures.



Healthcare Analytics provides several benefits across payers and providers, which are expected to increase, as the healthcare data analytics market is still in the nascent stages. In addition, as the analytics penetrates the Asian market there would be niche benefits, which would be discovered, based on the needs.



The healthcare analytics market is a well-established market in the U.S. It is showcasing double-digit growth compared to other healthcare IT market. The European market is the second largest market, growing at a lower rate due to the economic crisis. The Asian market is relatively new to the healthcare data analytics, however, the increasing initiatives and outsourcing will drive the market. Australia and New Zealand are developed market in terms of healthcare IT, and are setting an example for the use of healthcare data analytics.



For more information, visit http://www.marketresearch.com/land/product.asp?productid=7256888&progid=84992 : www.marketresearch.com/land/product.asp?productid=7256888&pr ..



Follow us on Facebook : www.facebook.com/marketresearchdotcom
Follow us on Twitter : www.twitter.com/marketresearch_



About MarketsandMarkets Publishing



The MarketsandMarkets : www.marketresearch.com/MarketsandMarkets-v3719/ edge: Worldwide, market research reports are primarily sold for numbers, market segmentation and competitive landscape, within the business leaders.



The analyst working with MarketsandMarkets come from the renowned publishing houses and market research firms globally adding their expertise and domain understanding. We get the facts from over 22,000 news and information sources, a database of hundred thousands of key industry participants and draw on our relationship with more than 900 market research companies globally.



About MarketResearch.com



MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Cindy Frei at 240.747.3014 or visit http://www.marketresearch.com : www.marketresearch.com/ .



Add to Digg : digg.com/submit?phase=2&url= www2.marketwire.com/mw/release_html_b1?release_id=961211 Bookmark with del.icio.us : del.icio.us/post?v=4&noui&jump=close&url= www2.marketwire.com/mw/release_html_b1?release_id=961211 Add to Newsvine : www.newsvine.com/_tools/seed&save?u= www2.marketwire.com/mw/release_html_b1?release_id=961211




Contact:
Cindy Frei
MarketResearch.com
240.747.3014
Email Contact : www2.marketwire.com/mw/emailprcntct?id=5658FFA111992766



Press Information:




Contact Person:


Disclaimer: (c) 2014 Market Wire. All of the press releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Market Wire's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com | BidVertiser