Dissatisfaction is a 'wake-up call' for healthcare analytics vendors

Data science

Amid a high level of dissatisfaction with healthcare analytics tools, the market is expected to change dramatically in the next few years, according to a new report from Peer60.

While noting that it’s not easy for healthcare systems to swap out their analytics systems, it adds: “Suppliers have been given a reprieve to get their act together, but they should consider themselves on notice.”

Based on a poll of 200 hospital leaders, it notes a “huge” disparity in customer satisfaction between a small number of top-performing companies and the rest in data visualization, data warehousing and consulting. This news should represent a “wake-up call” to some vendors, it says.

Forty-three percent of respondents said they use a multi-vendor approach; 22 percent are cobbling together some sort of homegrown strategy; 20 percent say they’re on their way to developing an enterprise strategy; and 10 percent have no strategy at all for data.

Among the report’s findings:

  • Most organizations of all sizes want a single enterprise analytics solution.
  • The short-term replacement market for data visualization and enterprise analytics is large, but much less so for ongoing consulting services and data warehouses.
  • Many providers with homegrown systems want to switch to commercial systems, but these plans are a long way from being executed.
  • Many providers are just getting started in analytics and represent first-time buyers for analytics systems.

The hospital executives polled said an analytics strategy is central to the hottest topics in healthcare right now, such as population health, care coordination, reducing risk/costs, improving outcomes and engaging patients.