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Market HighlightsThe global healthcare business intelligence (BI) market held a market value of USD 3,650.1 million in 2017 and is projected to grow at a CAGR of 15.5% over the forecast period.
On the contrary, the lack of skilled professionals in the Asia-Pacific and African regions along with the complexity of systems is anticipated to hinder the market growth over the forecast period.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/7544Novel trends in the healthcare business intelligence are artificial intelligence (AI) or machine learning, data insurance or security, multi-cloud system, and advanced analytics, which is increasingly facilitating the adoption of BI in the healthcare sector.
Big data analytics along with the internet of things are revolutionizing the healthcare sector in terms of health tracking, reducing healthcare associated costs, assisting high-risk patients, and preventing human errors.Regional AnalysisThe global healthcare business intelligence market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
This is due to the presence of software and service vendors, and sophisticated healthcare infrastructure, mounting adoption of data-driven decision-making, and emerging fields of prescriptive, predictive analytics.Europe would be the second-largest region in the healthcare business intelligence market due to burgeoning healthcare vertical, increasing adoption of advanced medical technologies, and the presence of vendors such as SAP SE and BOARD International S.A.The market in Asia-Pacific is expected to exhibit comparatively higher CAGR over the forecast period owing to increasing penetration of smartphones and internet, increasing investments in the healthcare infrastructure, rapid industrialization in India, China, and Japan, and a growing number of start-ups focusing on mobile application development.The Middle East & Africa has the least share of the global healthcare business intelligence market.
Additionally, the major market share of the region would be held by the Middle East region as the business intelligence and analytics solutions are of paramount importance to organizations in the Gulf Cooperation Council (GCC) countries.SegmentationThe global healthcare business intelligence market has been segmented into component, function, application, deployment model, end user, and region.By component, the market has been segmented into platforms, software, and services.On the basis of function, the market has been divided into OLAP and visualization, performance management, and query and reporting.Based on application, the market has been categorized into financial analysis, clinical analysis, and operational analysis.
The financial analysis is further categorized into claims processing, revenue cycle management, payment integrity and fraud, waste, and abuse, and risk adjustment and assessment.
Patient tracking is a sophisticated process designed to monitor patient’s movements, outside conventional clinical settings such as hospitals, clinics, diagnostic center and laboratories.
Many health care providers have started incorporating this method which has significantly lowered the personal costs of patients, reduced complications and improved quality of life of patients.
Previously, manual methods or approaches were adopted by healthcare providers for event driven patient tracking, but changing market dynamics, increasing focus on a patient centric approach, and rising financial and operational costs of hospitals, have shifted the trend towards sophisticated systems to monitor patients.
New technologies in event driven patient tracking systems, such as Real Time Locating System (RTLS), Radio Frequency Identification (RFID), Global Positioning System (GPS), and other technologies, allow caregivers to work efficiently by providing real-time information about the patient and improving the workflow.
RTLS is adopted by major healthcare settings and hospitals, but smaller hospitals, clinics, and diagnostic centers mainly opt for RFID, GPS, and other systems, as RTLS is more costly, and affordability of this technology is a major issue for smaller healthcare settings.
Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=14081 The global event driven patient tracking system is driven by factors such as adoption of patient centric approach by healthcare providers, seemingly increasing costs of healthcare services, which has led to adoption of new technologies and approaches by hospitals and other healthcare settings to reduce the pressure of increasing demands for bed capacity, and rising return on investment.