Hospitals, health systems, physician groups and other healthcare entities are increasingly investing in healthcare analytics tools along with business intelligence (BI) efforts in order to gain improvements in patient outcomes, population health management, patient care and clinical quality. Following are some statistics that highlight the growth of analytics and BI:
- More than two-thirds of healthcare decision makers consider analytics among their top three priorities.
- The BI and analytics market is forecast to grow to $20 billion by 2019.
- The healthcare analytics global market is estimated to be worth $33.5 billion by 2022.
- The BI and analytics software market is expected to grow at a 12 percent CAGR through 2020.
- In 2013, HIMSS Analytics found 46.2 percent of healthcare organizations were utilizing some form of clinical and BI solution in place, a number which increased to 52.1 percent in 2015.