BOSTON, Aug. 15, 2017 /PRNewswire/ -- Chilmark Research's latest report, the 2017 Healthcare Analytics Market Trends Report, reveals that analytics vendor solutions have matured but struggle to exploit new sources of data in a rapidly transforming industry. Building on the 2014 and 2016 editions of this report, Chilmark returned to the market this year to assess critical changes in vendor solutions and how well they map to provider needs. Notably, analytics solutions and care management applications are more tightly linked now and show promise for moving analytics-derived insights closer to the point of care. Analytics applications are also becoming more user friendly — an opportunity for differentiation previously identified in the 2016 edition.
What remains the most important driver underlying the strong growth in data analytics is the move to alternative payment models, commonly referred to as value-based reimbursement (VBR). Future financial success in the VBR realm requires healthcare organizations (HCOs) to effectively manage risks, utilization and costs while concurrently improving quality and optimizing outcomes.
Today, however, HCOs still straddle the different payment regimes of fee-for-service (FFS) and VBR. Analytics solutions are currently focusing on helping HCOs to maximize at-risk revenue (hitting quality targets) and still leverage traditional FFS reimbursements (closing care gaps). A secondary objective is to help HCOs reduce medical costs (unwarranted variability) and unnecessary utilization (readmissions reduction and low-acuity, non-emergent utilization).
This year's report provides in-depth profiles on 17 of the leading analytics vendors in the market today. All solutions profiled have the capability to co-mingle claims and clinical data. While Chilmark noted last year that EHR vendors are well positioned to incorporate analytics into their EHR solutions, vendors of all types have promising analytics solutions both in terms of product vision and capabilities. The report also includes major changes in vendor solutions compared to those from last year's report.
Chilmark Analyst and report author Brian Murphy explained, "Vendors still struggle to present information in a way that would cause providers to act and best use these emerging technologies and the insights they provide." Both providers and analytics solutions vendors would benefit from the report to not only evaluate different solutions options but also for the report's clear connections between analytics insights and opportunities for reducing utilization and improving health and revenue outcomes.
On August 24, Chilmark Research will host a webinar sharing highlights from this research, which you can register for here. The report is available to subscribers of the Chilmark Advisory Service or may be purchased separately (discounts for qualified provider organizations). For more information, visit www.chilmarkresearch.com/reports. Direct inquiries for purchase should be addressed to John Moore III at [email protected].
About Chilmark Research Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls, and are respected in the industry for our direct and thoughtful commentary. For more information visit: www.chilmarkresearch.com
Vendors Profiled: The Advisory Board Company, Allscripts, Arcadia Healthcare Solutions, athenahealth, Inc., Caradigm, CareEvolution, Cerner Corporation, Conifer Health Solutions, eClinicalWorks, Epic Systems Corporation, Forward Health Group, Geneia LLC, Health Catalyst, HealthEC, IBM Watson Health, MCIS, Inc., Optum, Philips Wellcentive.