Latest Report on Healthcare Analytics Reveals a Market Still Finding Its Way in an Evolving Ecosystem - 19 Action News|Cleveland, OH|News, Weather, Sports

Latest Report on Healthcare Analytics Reveals a Market Still Finding Its Way in an Evolving Ecosystem

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Chilmark Research

Chilmark Research's latest report finds rapidly growing interest in analytics for population health, but solutions remain immature

CAMBRIDGE, Mass., Aug. 27, 2014 /PRNewswire/ -- As vendors and healthcare organizations (HCOs) continue to promote their respective work in 'cutting edge' population health management (PHM) deployments, the newest report from Chilmark Research, their 2014 Analytics for Population Health Management Market Trends Report, reveals a far more sobering true state of affairs. This extensive update to the 2013 Clinical Analytics report shows a market that, while seeing strong growth of interest, is still very much in its infancy. HCOs of all sizes continue to struggle with rapidly evolving models of reimbursement while vendors have yet to effectively build-out their solution capabilities to fully meet market needs.

A key driver to market need for such solution is the migration to value-based reimbursement (VBR) models. These models are becoming ever more pervasive across the healthcare sector, increasingly linking reimbursement to clinical outcomes. To effectively compete in a VBR-dominated environment, HCOs must begin leveraging data (clinical, claims, demographic, and others) far more effectively to improve care delivery and manage risk. This rapidly growing need, in what is still a very immature market, has created significant confusion. Research for this report found over 100 vendors claiming to address analytics for PHM, aligning themselves with the buzzword by any means necessary. However, Chilmark's research found few actually delivering on their brochure-ware promises. This is a market where caveat emptor reigns supreme.

One of the more significant changes in the past year is the growing presence of EHR vendors seeking to provide solutions. Previously, analytics for PHM was barely on the radar of most EHR vendors. In the past 12 months, there has been a recognizable sea change, as these vendors work with clients to create analytics-driven PHM applications that can mine the clinical data being collected within their EHRs and elsewhere. As the EHR is the centerpiece of physician workflow and well-entrenched in large HCOs, the potential opportunities for these vendors is significant. Embedded, easy-to-use PHM applications are going to be essential to next generation EHR products that wish to see continued growth by upselling into their installed base and capitalizing upon new opportunities.

Despite the advances of EHR vendors though, they still lag significantly behind best of breed vendors. Best of breed vendors are not standing still and continue to lead the market in innovation, product capabilities and vision. To leapfrog competitors, EHR vendors will acquire best of breed vendors that have the solutions best suited for their target market(s). This will continue to create vendor selection challenges for HCOs.

The author of the report, analyst Cora Sharma, sums up the state of affairs: "Vendors can be roughly divided into two categories: best-of-breed and platform-play vendors depending on their particular products and marketing strategies. It is currently a best-of-breed market, with providers adapting vendor solutions to meet a particular need created by a specific payment contract. Vendors aspiring to be become enterprise-wide platforms find 'enterprise-thinking' HCOs in short supply."

The report looks at how organizations need to effectively leverage the myriad of data they have access to that will enable their PHM strategy, providing guidance as to where they should begin on this journey and the challenges along the way. The report provides a clear, concise framework that will assist HCOs in evaluating the solution capabilities of vendors serving this market along with insights into a selective group of vendors that currently have leading mind-share in this sector.

Within this comprehensive report, in-depth profiles of 19 vendors* are provided. Leveraging our framework, vendors are rated on their ability to meet diverse requirements that break down analytics for PHM into three hierarchical domains of: Data Aggregation; Population Insight; and Care Management, Workflow and Action. No vendor excels in all categories, but several are making significant headway, many others are following closely and more than a few have some significant work to do if they wish to remain relevant in this market.

The report is available to subscribers of the Chilmark Advisory Service or may be purchased separately. For more information, visit www.chilmarkresearch.com/reports. Direct inquiries for purchase should be addressed to Sean Campbell at sean@chilmarkresearch.com

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: Aetna, athenahealth, Caradigm, CareEvolution, Cerner, Epic Systems, Explorys, Health Catalyst, IBM, McKesson, Optum, Oracle, Phytel, Premier, Siemens Medical Solutions (USA), The Advisory Board Company, Truven Health Analytics, Verisk Health, Wellcentive

Media Contact: 
Matthew Guldin
Senior Analyst
Chilmark Research
matt@chilmarkresearch.com 
814-574-8077

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow