TECH SUPPLIER Jan 2019 - Market Presentation - Doc # US44596419

IDC Market Glance: Healthcare Analytics, 1Q19

By: Cynthia BurghardResearch Director, Value-based Healthcare IT Transformation Strategies

On-line Presentation

Abstract

This IDC Market Glance establishes a framework for the healthcare analytics market and includes vendors participating in each of the categories found in the framework.

IDC's surveys of healthcare technology buyers indicate that analytics is and will continue to be a top investment priority for the next 12–24 months. The term analytics is ambiguous at best and leaves prospective buyers in a state of confusion, often resulting in procurement decisions that do not meet the long-term needs of the organization. Healthcare payers and providers struggle between applications that are "enterprise" and thus designed to meet most of the organization's analytics requirements and those analytic applications that are purpose built to solve a specific business problem. We are seeing vendors emerge that are offering an analytic platform that at its core delivers a curated set of data that feeds the vendors' analytics, third-party analytic products (purpose built) and, in some cases, workflow applications. IDC believes this is a model for the future as it creates a single source of truth and does not limit clients to a single set of analytic applications. The current rate of proliferation of purpose-built analytics creates a significant data management challenge for healthcare organizations.

Definitions for all categories creates a single vocabulary for the major categories and subcategories of the analytics market. If one were to create a separate an IDC Market Glance for payers and providers there would be additional categories specific to each segment. "The IDC Market Glance: Healthcare Analytics, 1Q19 is designed to assist both buyers and suppliers of analytics to understand the market at its highest level. Suppliers will better understand how they "fit into" this framework, and buyers will be guided to vendors with expertise in particular domains." — Cynthia Burghard, research director, IDC Health Insights


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