The clinical data analytics market is about to get red hot. With the shift toward new payment models and the sheer amount of clinical data contained in electronic health records, more and more healthcare groups are looking to analytics solutions for population health management, according to a new report released Tuesday.
Healthcare groups are now taking myriad approaches to address their analytics needs including combining claims with clinical data. As providers increasingly seek to reduce the risk of the patient populations, this claims-based legacy will be both a starting point as well as a distraction from analyzing much richer clinical data from clinically-housed sources.
“There is no way around the fact that clinical data analytics will play an essential role in furthering PHM efforts,” said Cora Sharma, lead analyst of the Chilmark report, in a news release. “High-touch care management processes of the past will no longer suffice as the size of the problem is too vast, resources too few and patients too numerous. However, with the exception of payers, the healthcare industry as a whole is late to the analytics game,” Sharma continued.
Clinical data analytics is poised to grow at a CAGR of 37.9 percent from 10 percent adoption in 2011 to 50 percent adoption by 2016, according to a recent Frost and Sullivan market analysis.
Report findings detail, however, that despite strong market growth, it’s not all smooth sailing for data analytics.