Companies using big data in healthcare
All around the world, we’re seeing an increased buzz in the Healthcare Analytics Market. Experts estimate that it’ll be worth $84.2 billion by 2027 and will grow at a 26% CAGR from 2020 to 2027. Healthcare analytics can be applied to identify and predict future events, as well as provide key insights that will allow the healthcare organization to make better business decisions. Healthcare analytics has been gaining popularity and it is for great reason. It can cut costs, help you improve quality and follow regulatory requirements. Healthcare analytics is a tool that is not to be ignored in the medical industry.
Data-driven healthcare companies
Here are the Top 10 Data Analytics Healthcare Companies 2023:
- IBM Corporation
- McKesson Corporation
- UnitedHealthcare Group
- Oracle Corporation
- Allscripts Healthcare Solutions, Inc.
- Microsoft Corporation
- MedeAnalytics, Inc.
- Health Catalyst
- Cerner Corporation
- Epic Systems Corporation
1. IBM Corporation
International Business Machine (IBM) Corporation, based in New York, was founded in 1911 and is dedicated to assisting leaders, advocates, and influencers in addressing the world’s most pressing health issues. Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, Systems, and Global Financing are the company’s five business segments. Cognitive Solutions is a broad set of capabilities that assist IBM’s clients in identifying actionable new insights and informing decision-making to gain a competitive edge. This business area offers a wide range of services, including descriptive, predictive, and prescriptive analytics, as well as cognitive systems. Providers, health plans, employers, and pharmaceutical and biotech companies can all benefit from the company’s end-to-end solutions.
On April 8, 2016, the business completed the $2,612 million cash acquisition of Truven Health Analytics (Truven), a renowned provider of healthcare data analytics solutions. Truven Health Analytics’ solutions have been rebranded as IBM Watson Health. The Company is well-represented across the Americas, Europe, the Middle East and Africa, and Asia-Pacific. It is one of the Best Data Analytics Healthcare Companies.
2. McKesson Corporation
McKesson is the world’s leading provider of healthcare supply chain management solutions, retail pharmacy, community oncology and specialized care, and healthcare information technology. It was founded in 1833 and is headquartered in California, United States. Community-based oncology and other specialty practices receive practice management, technology, clinical support, and commercial solutions from the corporation, which distributes branded and generic pharmaceutical medications and other healthcare-related items. Healthcare firms can also benefit from the company’s clinical, financial, and supply chain management solutions.
McKesson and Change Healthcare Holdings, Inc. (CHC), a major provider of software and analytics, network solutions, and technology-enabled services, merged in March 2017 to become Change Healthcare, a new healthcare information technology firm. The company brings together nearly all of CHC’s operations as well as the majority of McKesson Technology Solutions (MTS). The company has a global presence in both the United States and other countries.
3. UnitedHealthcare Group
UnitedHealthcare Group, founded in 1977 and headquartered in Minnesota, is a diversified healthcare firm with four reportable segments spread over two business platforms: UnitedHealthcare (health benefits) and Optum (medical services) (health services). The Optum segment has dedicated units that help improve overall health system performance by leveraging distinct capabilities in data and analytics, pharmacy care services, population health, health care delivery, and health care operations to optimize care quality, reduce costs, and improve consumer experience and care provider performance.
OptumHealth, OptumInsight, and OptumRx are the three business segments that make up Optum. OptumInsight provides operational services and support as well as data and analytics and other health care information technology services. It is one of the Best Data Analytics Healthcare Companies.
UnitedHealth Group/Optum purchased The Advisory Board Company’s data analytics and population health technology and consulting division for $1.3 billion in August 2017 to expand its data analytics portfolio. North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are all strong regions for the corporation.’
4. Oracle Corporation
Oracle Corporation was founded in 1977 and is located in California, United States. Its solutions and services target all areas of corporate information technology (IT) environments—applications, platform, and infrastructure. Cloud and License, Hardware, and Services are the company’s three main segments. Oracle Data Management Cloud Offerings, part of the cloud and license business, is designed to provide a broad and integrated set of secure cloud-based capabilities for building, deploying, and managing data-driven applications, as well as to make data management workload migration to the Oracle Cloud simple.
The company has a lot of subsidiaries and a strong distribution network that spans across North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa region. It is one of the Best Data Analytics Healthcare Companies.
5. Allscripts Healthcare Solutions, Inc.
Allscripts Healthcare Solutions, Inc., founded in 1896 and headquartered in Chicago, Illinois, supplies information technology solutions and services to help healthcare organizations achieve optimal clinical, financial, and operational results. The company provides electronic health records (EHR), financial management, population health management, and precision medicine/consumer solutions to improve the quality and efficiency of healthcare. Allscripts CareInMotion, a community-connected population health management platform that provides care coordination, patient engagement, connectivity, and data aggregation, is part of the company’s Population Health portfolio.
dbMotion solution, dbMotion EHR agent, dbMotion Collaborate, and Allscripts Clinical Analytics Gateway are among the population health management solutions that provide connectivity and data aggregation.
The corporation has subsidiaries and a robust distribution network in countries/regions such as the United States, Canada, the United Kingdom, Australia, the Middle East, and Asia.
“In its most recent report on the worldwide Healthcare Analytics Market, Meticulous Research forecasts a 26 percent compound annual growth rate (CAGR) from 2020 to 2027′′.
6. Microsoft Corporation
Microsoft Corporation, founded in April 1975 and based in Washington, D.C., is a software company that provides commercial software, developer tools, operating systems, and cloud computing solutions, among other things. Productivity and Business Processes, Intelligent Cloud, and More Personal Computing are the company’s three business segments.
Microsoft Corporation has been in the forefront of data analytics. It has been working on a solution that will provide access to the medical data from different sources. The system will help in making smart decisions that can improve healthcare outcomes. It is one of the Best Data Analytics Healthcare Companies.
One of the latest projects from Microsoft Corporation is its AI tool called “Concierge” which specializes in natural language processing and conversational AI. Concierge is a chatbot, which is a computer program designed to simulate a human conversation with one or more human users via text or speech recognition, especially over instant messaging. It helps doctors and nurses by answering their questions about patient care and providing them with all relevant information they need to know about them.
The company includes offices throughout the Americas, Europe, Asia-Pacific, and the Middle East.
7. MedeAnalytics, Inc.
MedeAnalytics, Inc., founded in 1994 and headquartered in Texas, USA, specializes in coordinating data sources into a cloud-based analytics platform. The company aids in the delivery of organizational insights required to make even better decisions, remove workflow barriers, unlock data potential, and improve clinical, financial, and operational outcomes. The company offers revenue cycle management, value-based performance, enterprise analytics, and enterprise performance management solutions to providers and payers in various segments. The Company’s geographic footprint is mostly in the United States and the United Kingdom.
8. Health Catalyst
trigger for good health Health Catalyst was founded in 2008 and is based in Utah, United States. It offers a data warehousing platform, analytics apps, and professional services for improving outcomes. The firm assists health systems in achieving the clinical, financial, and operational goals necessary to improve population health and responsible care. Health catalyst data operating system and health catalyst analytics platform are two components of the company’s analytical platform.
North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are the company’s geographical operations.
9. Cerner Corporation
Cerner Corporation, founded in 1979 and located in North Kansas City, Missouri, is a prominent provider of healthcare information technology solutions. Cerner products are available on the HealtheIntent cloud-based platform and the unified Cerner Millennium architecture. With the acquisition of Siemens Health Services (now referred to as “Cerner Health Services”) in February 2015, Cerner expanded its service portfolio. Cerner Health Services provides a global range of clinical and financial health information technology solutions, as well as departmental, connectivity, population health, and care coordination solutions. It is one of the Best Data Analytics Healthcare Companies.
Licensed Software, Technology Resale, Subscriptions, Professional Services, Managed Services, Support and Maintenance, and Reimbursed Travel are the company’s seven business segments. Cerner expects population health to play a big role in their long-term growth, so they’re focusing on a few key solutions on the HealtheIntent platform, such as the longitudinal record, registries, analytics, provider performance management, patient/member engagement, care management, population health programs, and contract network management.
The company has strong subsidiaries & distributors all around the world, having a presence in Africa, Asia, Central America, Europe, Middle East, North America.
10. Epic Systems Corporation
Epic Systems Corporation (Epic) is a health IT firm best known for its EHR system. It was founded in 1979 and is headquartered in Wisconsin, United States. EpicCare, predictive analytics, and embedded decision support tools are provided by the firm to help clinical practices provide safe and high-quality treatment. Community hospitals, academic institutions, children’s groups, safety net providers, and multi-hospital systems are all served by the corporation. The company also provides implementation, training, optimization, architectural, and content services in addition to software.
The company’s geographical presence is mostly in the United States, the Netherlands, Australia, Denmark, the Middle East, and Finland.
How Data Analytics and Predictive Healthcare Can Help You and Your Company.
It is not just about the data. It is about the insights that you get from the data. Data analytics and predictive healthcare will help your company make better decisions, which will lead to increased profits and a healthier business.
Some of the ways in which Data Analytics and Predictive Healthcare can help you and your company:-
– Give you an opportunity to understand customer habits
– Allow you to identify opportunities in your regional marketing strategy
– Improve customer retention with personalized campaigns
– Predict product sales with advanced forecasting methods
– Offer insights into competitor’s offerings and marketing strategies
How Data Analytics and Predictive Healthcare are Transforming Healthcare for Patients.
The way healthcare is delivered has changed in the past decade. With the help of data, predictive analytics and other technologies, doctors are better equipped to diagnose complex diseases like cancer.
Predictive healthcare is making use of data to forecast what might happen in the future, so that patients can take timely preventive measures. Predictive healthcare helps doctors in diagnosing diseases early on and also in forecasting their progression so that patient’s condition can be monitored closely.
Data analytics is helping doctors with data-driven decisions about patient care, treatment and diagnosis which produce better outcomes for patients. Data-driven decisions require collecting large amounts of data efficiently and then analyzing it thoroughly. The insights derived from this analysis are used to produce actionable insights that improve the quality of patient care or prevent potential illness before it starts.
The Future of Healthcare is All About Data Analysis
Healthcare, as it has always been, is about data analysis. For example, in the 1950s doctors started using X-rays to get a better understanding of their patients’ health conditions. Today, this is just one of the many tools that are used to diagnose different medical conditions.
Make Big Data Work for You with Predictive Health Analytics Solutions
Predictive health analytics solutions help individuals and organizations make better decisions with data. The goal is to make the most of the data we have and be able to generate new insights as well as take actionable steps as a result.
Big Data analytics can provide a deep dive into the customer journey, social behavior, and healthcare utilization patterns.
Some of the predictive health analytics use cases are:
– Determining which patients are most likely to experience emergencies in their home environment
– Identifying high-risk hospital patients before they have a medical event so they can be treated more effectively
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Data Analysis And The Future Of Healthcare Systems- What Do Doctors Say?
Doctors are the ones who are handling healthcare systems in their countries, but what do they have to say about data analysis in the future of healthcare systems?
It would be helpful for doctors to know more about data analysis and be able to find which data sets are relevant for their patients. Data analytics would be used by doctors in different ways like to analyze hospital records, examine trends and patterns, or guide clinical decisions.