Tuesday, July 29, 2014

Healthcare Analytics Market to Grow 25%

The market for healthcare analytics market will grow at more than a 25% compound annual growth rate over the next five years, according to a report by Research and Markets.

Analytics have a wide range of applications in healthcare according to the study.

"Analytics assist healthcare organizations in reducing the hospitals stays, meeting regulatory compliance, enhanced quality care, prevention of chronic diseases, and fraud detection."
- Research and Markets report
Drivers for this market growth, especially in North America, include Meaningful Use requirements. To meet these mandates, which include protecting patient data privacy, organizations can utilize low-cost on-demand SaaS analytics services.
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Analytics are also contributing to improving patient outcomes and business decisions. Rather than the time and investment required to build a big data analytics team healthcare organizations often find SaaS analytics services more efficient and effective.
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Sources:
(a) Healthcare Analytics Global market - Forecast to 2019 - www.ReseachAndMarkets.com, 07/28/2014

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