Big Data in Healthcare-Opportunities and Trends 2016-2022

  • ID: 3846237
  • Report
  • Region: Global
  • 136 Pages
  • Research n Consulting
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US Healthcare Industry Can Save up to $300 Billion Per Year with Big Data

FEATURED COMPANIES

  • ABB
  • Dell
  • First Data bank
  • IBM
  • Medicity
  • Pervasive
  • MORE
Healthcare is perhaps one of the most data-intensive industries. The main sources where the data is getting generated is by, medical care providers, public and private payers, ancillary service providers and healthcare consumers. The challenge with data is not about the storage and access, but in making this data usable.

Big Data is big and it is getting even bigger in the healthcare industry. Almost every other healthcare publication and research talk about "Big Data" and its growing impact on the industry. Big Data provides the opportunity to healthcare industry for a paradigm shift; instead of thinking from the patient level up, there is now sufficient data to look at the entire population to extrapolate what will happen to any person. Big Data makes the transition to authentic data-driven healthcare easier by permitting health care professionals to improve the standard of care based on millions of cases.

Whilst Big Data has transformed much of healthcare industry but with the enormous information, sharing and analysis has yet to generate substantial benefits within healthcare. This creates an opportunity for many organizations to enter into an already growing market. A leading consulting firm estimates that US healthcare industry can save up to $300 billion per year with Big Data. Almost 90% of the CEOs in healthcare companies are exploring the ways to manage data in a useful way.

Big Data is already changing the way business decisions are made - and it’s still early in the game. Nevertheless, because Big Data exceeds the capacity and capabilities of conventional storage, reporting and analytics systems, it calls for new problem-solving approaches. With the convergence of powerful computing, advanced database technologies, wireless data, mobility and social networking, organizations can bring together and process Big Data in many profitable ways.

The global healthcare analytics market is estimated at USD 8.61 billion in 2015 and is projected to reach USD 36.06 billion by 2022, at a CAGR of 22.25% during the forecast period.

This research report focuses on the opportunities, major development and trends in healthcare IT. It evaluates the needs, challenges and advantages of healthcare organization and how these challenges can be addressed with Big Data. The report provides a comprehensive outlook of the market with a few case studies and solutions provided by various key players.

The main questions answered in the report are:

1. The need for Big Data in healthcare?
2. How the Big Data is generated in healthcare organizations?
3. Steps for becoming a data driven healthcare organization?
4. The top players in the industry and their profile?
5. Which region is leading the Big Data Analytics in healthcare?
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FEATURED COMPANIES

  • ABB
  • Dell
  • First Data bank
  • IBM
  • Medicity
  • Pervasive
  • MORE
1 Executive Summary

2 Overview
2.1 Introduction
2.2 Usage of Big Data in Various Industries
2.2.1 Banking and Securities
2.2.2 Communications, Media and Entertainment
2.2.3 Healthcare Providers
2.2.4 Education
2.2.5 Natural Resources
2.2.6 Government
2.2.7 Insurance
2.2.8 Retail
2.2.9 Transportation
2.2.10 Energy and Utilities
2.3 Need for Big Data in Healthcare Sector
2.3.1 Definition of Big Data in Healthcare
2.3.2 Leveraging Big Data in Life Sciences and Healthcare
2.3.3 Healthcare and Payers
2.3.4 Evidence-Based Medicine
2.3.5 Real-Time Healthcare and Clinical Analytics
2.3.6 Research & Development
2.3.7 Public Health
2.4 Generation of Big Data in Healthcare
2.5 Advantages of Big Data Analytics in Healthcare Sector
2.6 Market Dynamics
2.6.1 Market Challenges
2.6.2 Market Opportunities

3 Big Data in Healthcare
3.1 Architectural Framework
3.2 Outline of Big Data Analytics in Healthcare
3.3 Transformation of Healthcare with Clinical and advanced Analytics
3.3.1 Clinical Analytics
3.3.2 Advanced Analytics
3.45 Steps to becoming a Data-Driven Healthcare Organization
3.4.1 Define All Data Sources
3.4.2 Fix Data Quality Metrics
3.4.3 Integrate Various Data Sources
3.4.4 Identify Analytics Needs
3.4.5 Protect and Manage the Data Lifecycle
3.5 Revealing the Value of Unstructured Data in Healthcare
3.5.1 Use of Unstructured Data in Healthcare Analytics by WPC Healthcare
3.5.2 University of Ontario, Institute of Technology Leveraged Key Data to Provide Proactive Patient Care

4 Revolution in Big Data in Healthcare
4.1 The Internet of Things: A Big Contributor
4.2 Precision Medicine Shifts from Theory to Therapy
4.3 Population Health Management: Evolving Forever
4.4 Interoperability Demands Reach All Time High
4.5 Big Data-Driven Care

5 Big Data Trends in Healthcare
5.1 Trends
5.1.1 Genomics
5.1.2 Wearable and IoT Gadgets Reinvent Patient-Centred Care
5.1.3 Imaging Analytics
5.1.4 Cognitive Computing and Machine Learning
5.1.5 Precision medicine
5.2 Impact of Trends
5.2.1 Necessity to Leverage Big Data and Data Integration
5.2.2 Data Governance Framework
5.2.3 Collaboration Among Healthcare Providers
5.2.4 Optimizing Care
5.2.5 Leverage New Innovative Technologies

6 Big Data Health Care Solutions
6.1 Explorys Platform
6.2 Propeller Health
6.3 InterSystems- HealthShare
6.4 Pervasive - DataRush
6.5 Clinical Query
6.6 NextBio
6.7 UPMC's Analytics Platform
6.8 IBM Watson

7 Analysis of Vendors in Various Healthcare Big Data Products
7.1 EHR
7.2 Business Intelligence
7.3 Clinical Decision Support
7.4 Information Management
7.5 Care Coordination
7.6 HIE Infrastructure

8 Key Market Players Profile
8.1 Cerner Corporation
8.1.1 Company Profile
8.1.2 Solutions Overview
8.2 Cognizant
8.2.1 Company Profile
8.2.2 Solutions Overview
8.3 Meditech
8.3.1 Company Overview
8.3.2 Solutions Overview
8.4 Mckesson
8.4.1 Company Profile
8.4.2 Solutions Overview
8.5 Epic System Corporation
8.5.1 Company Overview
8.5.2 Solutions Overview
8.6 GE Healthcare
8.6.1 Company Overview
8.6.2 Solutions Overview
8.7 Dell
8.7.1 Company Overview
8.7.2 Solutions Overview
8.8 Philips
8.8.1 Company Overview
8.8.2 Solutions Overview
8.9 Siemens
8.9.1 Company Profile
8.9.2 Solutions Overview

9 Analysis of Big Data in Healthcare Sector
9.1 Global Market Statistics
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Rest of The World (ROW)

10 Future Outlook

11 Conclusion and Recommendations
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FEATURED COMPANIES

  • ABB
  • Dell
  • First Data bank
  • IBM
  • Medicity
  • Pervasive
  • MORE
Data in healthcare is anticipated to grow exponentially in the coming years and will be way above the capability of the traditional methods of data management and data analytics. Additionally, healthcare reimbursement models are moving; meaningful use and pay for performance are coming out as critical new factors in today’s healthcare environment. It is enormously important for healthcare organizations to obtain the available tools, infrastructures and techniques to leverage this vast amount of data efficiently or they may face the risk losing possibly millions of dollars in revenue and profits.

The main solutions providers in the space are Epic, Meditech, Cerner and Mckesson. Microsoft is very active in information lifecycle management. Medispan and Truven are active in clinical support system. One of the analyst from team member said, ""If healthcare organizations see IT transformation as an issue entirely for the CIO, they will fail. organizations will only truly profit from Big Data if they look beyond the silos and share information which is correct, timely and useful. The information has to be on time and useful irrespective of the profile of the user - whether they be managers trying to forecast demand for services or clinicians needing actionable insight in the emergency room"".

The market is driven by federal mandates, personalized medicine and the expansion of the Internet of Things. Increasing government initiatives, pressure to cut healthcare costs, new technological advancement such as mHealth, Internet of Things and wearables are some other factors driving the growth of the Big Data in healthcare market across the care continuum.

Other technologies that are anticipated to see good growth over the next few years consist of EHR market, patient engagement technologies and predictive analytics tools.

Regionally, North America has the biggest share in the pie of global Big Data in healthcare market, whereas Asia-Pacific has appeared as the fastest growing region.
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- ABB
- Alstom
- American Society for Clinical Oncology
- Big Data Overview
- Cerner Corporation
- Clinical Query
- Cognizant
- DHIMS
- Dell
- Eli Lilly
- Epic
- Explorys
- EyePACS,
- First Data bank
- GE Healthcare
- Gartner
- HealthLeaders Media Council
- Healthitanalytics
- Hin
- Hiss Journal
- IBM
- InterSystems
- KPMG
- MEDITECH
- McKinsey
- Mckesson
- Medi Span
- Medicity
- Microsoft
- NCBI
- NextBio
- Orion Health
- Pervasive
- Premier
- Propeller Health
- Royal Philips
- SAP
- Siemens
- Simplify 360
- Truven
- University of Ontario
- University of Pittsburgh Medical Center
- WPC Healthcare
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