Clinical Intelligence Market Business Strategy,Technology Trends,Industry 2027

 Clinical Intelligence Market Research Report 2019 published By Market Research Future, provides information on Global Clinical Intelligence Industry Size, Share, Trends, Growth and Opportunity Assessment with Regional Analysis and Segmentation By Clinical Intelligence Market Information: By Type (CDSS, Quality Improvement), Component (Service, Software), Application (Clinical, RCM), End User (Hospitals, Clinics, Tpas) – Global Forecast Till 2023

The global clinical intelligence market is expected to grow at a CAGR of 12.5% during the forecast period. 2018-2023.

Some of the key players in Clinical Intelligence market are IBM (U.S.), Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), Allscripts (U.S.), QSI Management, LLC (U.S.), General Electric Company (U.S.), eClinicalWorks (U.S.), McKesson Corporation (U.S.), and Greenway Health, LLC (U.S.).

 

 

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Clinical Intelligence includes number of software solutions for clinical data management. It involves software for Revenue Cycle Management (RCM), clinical decision support, financial management and medical records management. It is used to improve organization’s productivity, reduce cost, improves patient engagement and safe financial resources and time.

Rising demand for healthcare software solutions, growing emphasis on electronic health records and adoption of information technology for delivery of care propel the market growth. Also, presence of large number of market players providing healthcare software solutions further boost the market growth. Furthermore, evolution in healthcare IT and continuous technology up gradation will drive the market.

According to National Coordinator of Health Information Technology, patient engagement EHR functionalities became more prevalent in U.S. hospitals from 2013 to 2015. In 2015, 78% of all office-based physicians reported the use of a certified EHR and 46% of all physicians participated in a delivery system reform program. It also stated that, in September, 2013, the Health IT Policy Committee (HITPC) accepted and approved recommendations from the Food and Drug Administration Safety (FDA) and Innovation Act (FDASIA) working group for a risk-based regulatory framework for healthcare IT. These statistics determine the use of healthcare IT in the U.S. Patient engagement platform and clinical decision support systems are receiving attention from large number of healthcare providers as it is important to maintain the track of patient visits & medical reports. High cost of clinical intelligence software solutions may restrain the market growth in developing countries.

Intended Audience

• Healthcare Software Companies
• Clinical Software Vendors
• Market Research and Consulting Service Providers
• Potential Investors

Global Clinical intelligence Market – Company Analysis

The Global Clinical Intelligence Market is observed to be highly competitive and fragmented. For instance, Epic Systems Corporation is a healthcare software company providing healthcare solutions which includes major domains namely patient engagement, managed care, clinicians, care at distance, revenue cycle, population health and many more. In January 2016, this company purchased Mayo Clinic data centre for USD 46 million.

Segments

The global clinical intelligence market is segmented on the basis of type, components, application, and end user.

On the basis of type, market is segmented into retrospective performance measures & predictive analytics, performance measurement systems, Clinical decision support (CDSS) System, quality improvement, clinical benchmarking, population health management and others. Quality improvement is further segmented into six sigma. Population health management is further segmented into over-utilization of health services and under-utilization of health services.

On the basis of component, the market is segmented into software, hardware, and services.

On the basis of application, the market is segmented into Clinical, Revenue Cycle Management (RCM) claim, fraud, supply chain, financial management and others.

On the basis of end user, the market is segmented into hospital, clinics, TPAs, and others.

Global Clinical intelligence Market – Regional Analysis

Global Clinical Intelligence Market, on the basis of regions is divided into Americas, Europe, Asia Pacific and Middle East and Africa.

America is the largest market for clinical intelligence owing to an increasing extensive use of software solutions for healthcare administration and available resources. North America accounts for the largest market share owing the presence of major healthcare IT companies enjoying global presence namely IBM, Allscripts, GE Electric Company and QSI Management, LLC. According to National Coordinator of Health Information Technology, patient engagement EHR functionalities became more prevalent in the U.S. hospitals from 2013 to 2015. Furthermore, the use of Decision Support System is found to be increasing among tertiary care centres in the U.S.

In January, 2014, the U.S. Department of Health and Human Services (HHS) Secretary and the U.K. Secretary of State for Health signed a bi-lateral agreement for the use and sharing of health IT information and tools. The agreement increased the use of health IT tools and information designed to help improve the quality and efficiency of the delivery of health care in both countries. Therefore, such initiatives further propel the market growth in the U.S.

Europe is the second largest market for clinical intelligence which is estimated to adopt a steady growth in the near future due rising number of healthcare providers using clinical management software and technological advancement in healthcare IT especially EHR and patient engagement platform.

Asia Pacific is expected to be the largest market for clinical intelligence owing to the rising awareness about the Electronic Health Records (EHR), and growing demand for cost effective software solutions for hospitals, and clinics. Additionally, demand out reaching supply will create growth opportunity for the market in Asia Pacific and major market players should focus on emerging markets such as China, and India.

The Middle East & Africa also show a steady rise in the market owing to low demand for healthcare IT, especially in Africa owing to low healthcare expenditure and need for primary care services.

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