The Global Healthcare Business Intelligence Market is expected to grow at a CAGR of 15.2% from 2020 to 2027. Factors such as the implementation of government initiatives to increase EHR adoption, growing pressure to curb healthcare spending, and big data in healthcarearefueling the growth of the healthcare business intelligence market. The emergence of cloud-based business intelligence (BI) solutions and rising adoption of mobile based BI solutions are also supporting the market growth. Additionally, advancements in analytics and the emergence of big data are anticipated to provide attractive growth opportunities for the market in the future years.
The global healthcare business intelligence market is segmentedby component, deployment, application, and end-user.Bycomponent, the market is segmented intoplatform, software, andservices. The deployment segment is categorizedintoon-premise, cloud-based, and hybrid. By application the market is categorized into financial analysis, operational analysis, and clinical analysis. The end-user segment is divided into healthcare payers, healthcare providers, and healthcare manufacturers.
By component, the platform segment dominated the market in 2020 accounting for the largest market share globally. On-premise dominated the deployment segment as it is more customizable than cloud-based and hybrid deployment models which have increased its demand in the market. By application, financial analysis accounted for the largest market share driven by the rising focus of payers on the early detection of fraud and reducing preventable costs. The payers dominated the end-user segment driven by factors such as the growing need to curb fraudulent claims, rising healthcare costs, and optimize provider networks.
By region, North America dominated the global healthcare business intelligence market followed by Europe. North America accounted for the major market share in the global market, owing to the well-established healthcare infrastructure and the increasing adoption of healthcare intelligence solutions by healthcare providers. In terms of growth, the Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period 2020 – 2027. The leading market players in the healthcare business intelligence marketare Microsoft, IBM, SAS Institute Inc., BOARD International, Oracle, SAP SE, Tableau Software, MicroStrategy Incorporated, Sisense Inc., Yellowfin BI,QlikTech International AB, and Information Buildersamong others.
Healthcare Business Intelligence Market Key Segments:
• Financial Analysis
o Claims Processing
o Revenue Cycle Management
o Payment Integrity and Fraud, Waste, & Abuse (FWA)
o Risk Adjustment and Risk Assessment
• Operational Analysis
o Supply Chain Analysis
o Workforce Analysis
o Strategic Analysis
• Clinical Analysis
o Quality Improvement and Clinical Benchmarking
o Clinical Decision Support
o Regulatory Reporting and Compliance
o Comparative Analytics/Effectiveness
o Precision Health
• Healthcare Payers
• Healthcare Provides
• Healthcare Manufacturers
• North America
o The U.S.
o South Korea
o Latin America
o The Middle East
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