The health care industry is often one of the last markets to adopt the latest technologies available. This is due primarily to the fact that organizations in this field are responsible for maintaining some of the most sensitive information, such as patient health records. Every system must be checked and checked again to make sure precious content is safeguarded at all times. It appears that business intelligence suites are quickly making their way into hospitals and medical practices at a healthy rate.
A MarketsandMarkets report suggested that the worldwide health care BI market totaled roughly $2.4 billion in 2013, expanding at a compound annual growth rate of 15 percent during the next five years. North America will be the largest sector during this time, followed by Asia.
The research firm explained federal reforms, higher costs, increased data volumes and desire to improve patient outcomes are all contributing to this upward trend. Reliance on newer technologies such as cloud computing and mobile strategies are also fueling the health care BI industry. These tools are essential for improving data exchanges throughout organizations.
The cloud and mobile devices have formed a nice relationship with one another in recent years, as cloud environments are available through the Internet. Physicians and nurses can view patient information anywhere at any time through their mobile devices, such as tablets, thanks to these powerful tools.
The growing health care BI marketplace is also succeeding thanks to significant advancements from service providers in this burgeoning field. MarketsandMarkets listed Microsoft as among the top vendors in this space.
BI tools are not always smooth sailing
The use of BI solutions throughout the health care field is not without apparent roadblocks. A TEKsystems survey found that more than a third of respondents cited data complexity as the top challenge impacting their use of BI, while 24 percent pointed to a lack of analysis and 23 percent implicated interoperability problems.
Health care organizations are also struggling from a skills standpoint regarding their success with BI suites. TEKsystems discovered that nearly one-third of respondents lack such internal expertise. A vast majority of participants - 86 percent - said data architect will be the most challenging staff member role to fill moving forward, followed by information analyst, business analyst and software developer.
With all of these challenges piling up, it is unsurprising that 58 percent of organizations have not implemented a BI suite up to this point.
Allen Kriete, vice president of health care services at TEKsystems, indicated BI solutions can deliver results, but such outcomes require the right amount of time - which can be longer than some may like.
"For those without an implementation plan already in place, it will be critical that they identify the necessary skill sets and secure the necessary talent in order to ensure a smooth deployment that is custom-fit for their organization's unique needs," Kriete suggested.
Need help? Contact Pinnacle today
The fact that health care organizations are considering or have already implemented BI tools is a clear sign that these solutions are becoming widespread commodities. What is not so unambiguous, however, is how first-time adopters can achieve a successful deployment from day one.
At Pinnacle, an Advanced Imaging Solutions company, BI suites are part of the IT managed service provider's leading offerings. The vendor analyzes client workloads to determine the best solution for their unique needs. What's more, Pinnacle is a Microsoft Certified Professional and understands how Microsoft tools help organizations get the most out of their IT departments.
To learn more about Pinnacle's Microsoft background and other tech-related services, click here to contact the company today.