As a result, healthcare providers can set realistic budgets, deepen patient engagement and use results of data analysis to map a business route free of roadblocks.Īccording to the leading healthcare market research institution - British Healthcare Business Intelligence Association.īI effectively incorporates multiple categories related to the improvement of healthcare organizations performance, including:Īs for now, business intelligence software for healthcare organizations offers various solutions and ideas to processes listed above by featuring:
Healthcare BI software has a functionality that allows tracking information related to patient medical files and history, including financial operations. All this became possible thanks to the implementation of business intelligence and analytics solutions in the industry.Īpplication and features of business intelligence in healthcareīusiness intelligence in healthcare takes care of procedural and technical infrastructure, which implies: In particular, according to industry reports, the healthcare business intelligence market size was estimated at USD 4.61 billion in 2018, along with a forecast of a 12.8% increase over the 2019 - 2025 period. The reason behind these dynamics is the increased productivity of the medical professionals, improvement of patient care, and facilitation of medical workforce management. In addition, there is already a need for BI solutions and analytics platforms in the industry.
The pace of development of predictive analytics and analysis of big data technology allows us to hope for exponential growth. Since healthcare providers strive for enhancing the patient experience and search for ways of having competitive advantages in delivering their service, it is no wonder that the healthcare business intelligence market showed considerable growth.īusiness Intelligence prospects in the healthcare market are extremely tempting. All these processes are aimed at:Īchieving precise and efficient data analysis related to healthcare serviceĪcceleration of business decisions in the healthcare industryĭue to a host of factors including the need to attain highly optimized operational workflow and respond to the trends of mobility and technological advancement, the importance of business intelligence in the healthcare industry has greatly increased over recent years. Healthcare Business Intelligence Definition and Market Dynamicsīusiness intelligence in healthcare consists of people, technology, and data (including data extracting, data mining, querying, and reporting activities).