Americas Recovery and Reinvestment Act of 2009 (ARRA) is touted to be an attractive incentive for hospitals and physicians to adopt technology and systems related to patient safety, coordination, and quality of care which is contributing to the growth of the healthcare analytics market i understand all that but it should come in large steps..
In a time where economic struggles are forcing hospital closures and layoffs, using statistical tools may help improve processes not only in terms of patient welfare, but keep establishments within their budgets while riding the recession wave, extra costs involved in gathering data and the purchase of such items as EMR are stressing even the hardyest healthcare system..
One Problem is there are not enough resources in the country to take care of all the hospitals. as we have it right now those staff that can operate such programs as EPIC are being taken to the highest bidder. Hospitals have large investments on the table, upwards to $50 million for say a 400 bed hospital. This large surge was never planned, staff were never hired and trained up and in short its a nightmare with the patient in the middle.
Who would have thought a small computer software firm in Wisconsin would become the hottest thing since sterile bandages in hospitals.
Doctors are taking early retirement rather than to learn it, staff are stressed and quiting and in short its another log on a fire that is soon to burn out of control with Obama care.
A new report suggests that the healthcare analytics market may be worth $10.8 billion by 2017.
Healthcare analytics is the field which develops tools and systems to plan and analyze medical data which can be then applied to modern healthcare practices. Statistical tools are often used to try and both predict and improve medical outcomes, as well as find flaws and problems that could be improved to help efficiency rates.
Due to the growing digital world, the concept of “big data” — where vast quantities of information can be cheaply stored and analyzed at leisure by organizations — and mobile technology, the new market research report suggests that the healthcare analytics market is estimated to be worth $3.7 billion in 2012 and is growing at a rate of 23.7% from 2012 to 2017 to eventually reach $10.8 billion.
In the United States, the healthcare analytics market is showing double-digit growth, and the European market is the second largest system — but is growing at a slower pace due to the economic climate.
America’s Recovery and Reinvestment Act of 2009 (ARRA) is touted to be an attractive incentive for hospitals and physicians to adopt technology and systems related to patient safety, coordination, and quality of care — which is contributing to the growth of the healthcare analytics market.
In a time where economic struggles are forcing hospital closures and layoffs, using statistical tools may help improve processes not only in terms of patient welfare, but keep establishments within their budgets while riding the recession wave.
Image credit: Alex Proimos
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