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From February 11th to 15th, over 45,000 HIMSS19 attendees flooded the halls of the Orange County Convention Center in Orlando, Florida to share, learn, and showcase emerging healthcare IT products and solutions. This year, exhibitors and attendees were particularly interested in the fast-growing trend of analytics technologies in healthcare – with more than 194 exhibitors and 82 educational sessions related to this topic.This indicates a slight shift from last year’s HIMSS18 conference, where interoperability, improving quality metrics, and population health were among the more popular trends.
Despite the overwhelming popularity of analytics topics at HIMSS19, our data shows that nearly half of U.S. healthcare organizations still have not adopted business analytics technologies that can help lower healthcare costs and improve care coordination and outcomes.
Every healthcare organization produces data — usually, more data than anyone knows what to do with. The key to sifting through this data and transforming it into actionable insights is through analytics technology. So, what factors could be causing this implementation delay? Here are a few likely possibilities:
Definitive Healthcare and newly-acquired HIMSS Analytics experts tracked the installation rates of three types of analytics technologies at U.S. hospitals: (1) clinical business intelligence, (2) financial business intelligence, and (3) data warehousing in their latest webinar and found that there is sizable room for growth in this space.
Looking at these three analytics technologies together, there are a total of 92 vendors in the market. Even though there is some maturing to do with adoption (on the clinical side of analytics, especially) it’s a competitive segment. We see 44 percent of hospitals using a vendor outside of the top 10 market share vendors (Epic, Cerner, SAP, Oracle, Meditech, Change Healthcare, Allscripts, Infor Healthcare, and CPSI). However, the market is still dominated by the two major EMR and EHR solution providers: Epic with about 28.6 percent of the market, and Cerner with 24 percent.
In terms of installation activity, we are seeing U.S. hospitals diving in headfirst: contracting, installing, upgrading and replacing hundreds of analytics systems over the past five years.
It’s important to note that certain U.S. states are further along in implementing at least one of these three types of analytics technologies, but there is still green space in the west and south – indicating opportunity for implementation in the future.
As adoption levels of analytics technologies rise, organizations will be able to learn from each other to create successful programs and ultimately help provide better care at a lower cost. Naturally, the growing pains are inevitable and necessary, but the future and capabilities of healthcare analytics technologies are exciting.
Conference attendees also discussed several technologies set for accelerated adoption in the near future:
In addition, there were other technologies that have already been implemented and, as such, are not likely to see higher rates of adoption. For example, 92 percent of U.S. hospitals already have a patient portal solution installed.