The global clinical intelligence market is expected to grow at a CAGR of 12.5% during the forecast period

Market Research Future published a Half – Cooked research report on “Global Clinical intelligence Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

IBM (U.S.), Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), Allscripts (U.S.), QSI Management, LLC (U.S.), General Electric Company (U.S.), eClinicalWorks (U.S.), McKesson Corporation (U.S.), and Greenway Health, LLC (U.S.) and others are some of the prominent players at the forefront of competition in the global clinical intelligence market and are profiled in MRFR Analysis.

Global Clinical intelligence Market - Overview

Clinical Intelligence includes number of software solutions for clinical data management. It involves software for Revenue Cycle Management (RCM), clinical decision support, financial management and medical records management. It is used to improve organization’s productivity, reduce cost, improves patient engagement and safe financial resources and time.

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Rising demand for healthcare software solutions, growing emphasis on electronic health records and adoption of information technology for delivery of care propel the market growth. Also, presence of large number of market players providing healthcare software solutions further boost the market growth. Furthermore, evolution in healthcare IT and continuous technology up gradation will drive the market.

According to National Coordinator of Health Information Technology, patient engagement EHR functionalities became more prevalent in U.S. hospitals from 2013 to 2015. In 2015, 78% of all office-based physicians reported the use of a certified EHR and 46% of all physicians participated in a delivery system reform program. It also stated that, in September, 2013, the Health IT Policy Committee (HITPC) accepted and approved recommendations from the Food and Drug Administration Safety (FDA) and Innovation Act (FDASIA) working group for a risk-based regulatory framework for healthcare IT. These statistics determine the use of healthcare IT in the U.S. Patient engagement platform and clinical decision support systems are receiving attention from large number of healthcare providers as it is important to maintain the track of patient visits & medical reports. High cost of clinical intelligence software solutions may restrain the market growth in developing countries.

The global clinical intelligence market is expected to grow at a CAGR of 12.5% during the forecast period.

Industry Updates

June, 2017 athenahealth Inc. acquired Praxify Technologies to advance cloud platform and mobile innovation. Athenahealth expects that the acquisition will enhance the platform strategy and mobile capabilities to drive frictionless workflows and intelligence at and around the moments of care.

August, 2016 Athenahealth acquires Patient IO to accelerate patient-centered care. The acquisition brings mobile care coordination to population health service and the talented team to join athenahealth austin

August, 2014 The North Carolina Health Information Exchange (NC HIE) has partnered with CureMD for its EHR platform to the NC HIE network, in order to establish its connectivity with local health departments across the state

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Global Clinical intelligence market, on the basis of regions is divided into Americas, Europe, Asia Pacific and Middle East and Africa.

America is the largest market for clinical intelligence owing to an increasing extensive use of software solutions for healthcare administration and available resources. North America accounts for the largest market share owing the presence of major healthcare IT companies enjoying global presence namely IBM, Allscripts, GE Electric Company and QSI Management, LLC. According to National Coordinator of Health Information Technology, patient engagement EHR functionalities became more prevalent in the U.S. hospitals from 2013 to 2015. Furthermore, the use of Decision Support System is found to be increasing among tertiary care centres in the U.S.

In January, 2014, the U.S. Department of Health and Human Services (HHS) Secretary and the U.K. Secretary of State for Health signed a bi-lateral agreement for the use and sharing of health IT information and tools. The agreement increased the use of health IT tools and information designed to help improve the quality and efficiency of the delivery of health care in both countries. Therefore, such initiatives further propel the market growth in the U.S.

Europe is the second largest market for clinical intelligence which is estimated to adopt a steady growth in the near future due rising number of healthcare providers using clinical management software and technological advancement in healthcare IT especially EHR and patient engagement platform.

Asia Pacific is expected to be the largest market for clinical intelligence owing to the rising awareness about the Electronic Health Records (EHR), and growing demand for cost effective software solutions for hospitals, and clinics. Additionally, demand out reaching supply will create growth opportunity for the market in Asia Pacific and major market players should focus on emerging markets such as China, and India.

The Middle East & Africa also show a steady rise in the market owing to low demand for healthcare IT, especially in Africa owing to low healthcare expenditure and need for primary care services.

Global Clinical intelligence Market - Company Analysis

The global clinical intelligence market is observed to be highly competitive and fragmented. For instance, Epic Systems Corporation is a healthcare software company providing healthcare solutions which includes major domains namely patient engagement, managed care, clinicians, care at distance, revenue cycle, population health and many more. In January 2016, this company purchased Mayo Clinic data centre for USD 46 million.

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