Healthcare Analytics Projected to Explode

November 21, 2017

There are many factors influencing the growing demand for healthcare analytics: pressure to lower healthcare costs, demand for more personalized treatment, the emergence of advanced analytic technology, and impact of social media. PR Newswire takes a look at how the market is expected to explode in the article, “Healthcare Analytics Market To Grow At 25.3% CAGR From 2013 To 2024: Million Insights.” Other important factors that influence healthcare costs are errors in medical products, workflow shortcomings, and, possibly the biggest, having cost-effective measures without compromising care.

Analytics are supposed to be able to help and/or influence all of these issues:

Based on the component, the global healthcare analytics market is segmented into services, software, and hardware. Services segment held a lucrative share in 2016 and is anticipated to grow steady rate during the forecast period. The service segment was dominated by the outsourcing of data services. Outsourcing of big data services saves time and is cost effective. Moreover, Outsourcing also enables access to skilled staff thereby eliminating the requirement of training of staff.

The cloud-based delivery is anticipated to grow and be the most widespread analytics platform for healthcare. It allows remote access, avoids complicated infrastructures, and has real-time data tracking. Adopting analytics platforms help curb the rising problems from cost to workforce to treatment the healthcare industry faces and will deal with in the future. While these systems are being implemented, the harder part is determining how readily workers will be correctly trained on using them.

Whitney Grace, November 21, 2017

Written by Stephen E. Arnold · Filed Under Analytics, Cloud computing, healthcare, News

Comments

One Response to “Healthcare Analytics Projected to Explode”

Jerry Constantino on November 24th, 2017 6:40 pm

I wrote about this as the first person experience of my spouse (name changed) and its future ramifications and benefits at:

http://itsnutsoutthere.blogspot.com/search?q=ekg

Search the site
Subscribe to Beyond Search
Feature archive
News archive

Stephen E. Arnold monitors search, content processing, text mining and related topics from his high-tech nerve center in rural Kentucky. He tries to winnow the goose feathers from the giblets. He works with colleagues worldwide to make this Web log useful to those who want to go "beyond search". Contact him at sa [at] arnoldit.com. His Web site with additional information about search is arnoldit.com.