What are our data sources?
We use the data sources on the side for ranking solutions and awarding badges in healthcare analytics companies category. Our data sources in healthcare analytics companies category include;
Healthcare data is complex and text heavy. Healthcare analytics software enable healthcare companies to analyze their data and derive insights.
If you’d like to learn about the ecosystem consisting of Healthcare Analytics Companies and others, feel free to check AIMultiple Healthcare.
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We use the data sources on the side for ranking solutions and awarding badges in healthcare analytics companies category. Our data sources in healthcare analytics companies category include;
review websites
social media websites
search engine data for branded queries
According to the weighted combination of 7 data sources
IBM Watson Health
Apixio
Flatiron Health
Enlitic
Health Fidelity
Taking into account the latest metrics outlined below, these are the current healthcare analytics companies market leaders. Market leaders are not the overall leaders since market leadership doesn’t take into account growth rate.
IBM Watson Health
Apixio
Flatiron Health
Enlitic
Health Fidelity
These are the number of queries on search engines which include the brand name of the solution. Compared to other Healthcare categories, Healthcare Analytics Companies is more concentrated in terms of top 3 companies’ share of search queries. Top 3 companies receive 80%, 3% more than the average of search queries in this area.
33 employees work for a typical company in this solution category which is 12 more than the number of employees for a typical company in the average solution category.
In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 11 companies with >10 employees are offering healthcare analytics companies. Top 3 products are developed by companies with a total of 1k employees. The largest company building healthcare analytics companies is flatiron with more than 500 employees.
Taking into account the latest metrics outlined below, these are the fastest growing solutions:
IBM Watson Health
Apixio
Flatiron Health
Enlitic
Berg
We have analyzed reviews published in the last months. These were published in 4 review platforms as well as vendor websites where the vendor had provided a testimonial from a client whom we could connect to a real person.
These solutions have the best combination of high ratings from reviews and number of reviews when we take into account all their recent reviews.
This data is collected from customer reviews for all Healthcare Analytics Companies companies. The most positive word describing Healthcare Analytics Companies is “Easy to use” that is used in 700% of the reviews. The most negative one is “Difficult” with which is used in 300.00% of all the Healthcare Analytics Companies reviews.
According to customer reviews, most common company size for healthcare analytics companies customers is 1,001+ employees. Customers with 1,001+ employees make up 42% of healthcare analytics companies customers. For an average Healthcare solution, customers with 1,001+ employees make up 42% of total customers.
This category was searched on average for 476 times per month on search engines in 2022. This number has increased to 480 in 2023. If we compare with other healthcare solutions, a typical solution was searched 213 times in 2022 and this decreased to 140 in 2023.
Healthcare analytics companies provide insights into hospital management, diagnosis and patient outcomes by collecting and analyzing healthcare data.
Using healthcare analytics, organizations can improve their patient care decisions, services, and existing procedures. Healthcare analytics relies on the following data:
Electronic health records (EHR) are the most important source of clinical data. They are a collection of patient and population health information in a digital format. Physicians use EHR to monitor patient care. EHR is a broader term that includes data on administrative and demographic information, diagnosis, treatment, prescription drugs, laboratory tests, billing, scheduling, claims etc.
Healthcare data is complex. The amount of healthcare data and potential benefits of leveraging healthcare data is increasing. These all make using advanced analytics in healthcare a valuable yet challenging activity.
Healthcare data is complex since it comes from a variety of sources and has to comply with government regulations. According to Seagate , the healthcare industry will have the most CAGR in the amount of data created, captured, and replicated between 2018-2025. The report highlights that the datasphere growth rate of the healthcare industry is 36% which is higher than manufacturing, financial services, media and entertainment industries. Therefore healthcare analytics has the challenge of interpreting a large volume of structured and unstructured data into insights that help enhance medical treatments while increasing the efficiency of healthcare services
Healthcare
Pharma R&D
Insurance
Healthcare analytics can have a positive impact on both healthcare providers and the pharmaceutical industry. We've written about the benefits that healthcare companies achieve with healthcare analytics before, feel free to check it out.
According to an Accenture report, growth in the AI healthcare market is expected to reach $6.6 billion by 2021 with a CAGR of 40%. AI can be used to both automate the process of analytics and make analytics solutions more effective thanks to advanced analytics techniques that rely on machine learning. Potential impacts of AI on healthcare analytics are as follows:
Healthcare analytics vendors should be able to overcome the following problems that organization may experience:
To learn more about these issues, check our article.