According to a the recent KLAS report released this week, over half of healthcare providers are looking to purchase business intelligence tools over the net years signaling a tidal wave of growth as the industry search for solutions to help them combat a number of regulatory challenges such as ACO, HIE, and others.
The KLAS report, Business Intelligence Perception 2012: A Wave is Coming, was created from data collected between January and March representing 137 unique healthcare provider respondents. The graph below highlights the percentage of those respondents planning to purchase healthcare BI tools over the next three years.
Source:KLAS BI Perception Study
Other highlights of the study include 83% of respondents have adopted a forward thinking approach to BI and McKesson leads the pack with the most provider considerations. Other vendors leading the report include IBM, Oracle, QlikTech and SAP with respondents identifying 37 vendors in consideration for BI products. One CIO told KLAS, “If hospitals can’t produce data analytics in the next couple of years, they are going to suffer. As far as I am concerned, data is money in the future.”[pullquote]“If hospitals can’t produce data analytics in the next couple of years, they are going to suffer. As far as I am concerned, data is money in the future.”[/pullquote]
The top five “wish list” for healthcare-specific functionality includes:
- Enterprise healthcare BI: 27 percent
- Predictive analytics: 22 percent
- ACO analytics: 16 percent
- Healthcare data integration/data warehousing: 9 percent
- Population health; 9 percent
One of the key points that this KLAS report points out is that healthcare providers must purchase multiple BI tools to meet their needs. Going forward, BI vendors must create integrated solutions that is able to meet all of their customers need. Adding multiple systems can be for IT departments to supports can be costly. Additionally, 65 percent of providers plan on implementing BI alone without the help of consultants.
To learn more about business intelligence, the report Business Intelligence Perception 2012: A Wave is Coming is available online to healthcare providers for a significant discount. Providers and vendors can visit www.KLASresearch.com/KLASreportsfor more information or to purchase the report. In addition, providers can participate in the research by evaluating a healthcare technology vendor they utilize at www.KLASresearch.com/eval.
About KLAS
KLAS is a research firm specializing in monitoring and reporting theperformance of healthcare vendors. KLAS’ mission is to improve HIT delivery by independently measuring vendor performance for the benefit of our healthcare provider partners, consultants, investors, and vendors. Working together with executives from over 4,500 hospitals and over 2,500 clinics, KLAS delivers timely reports, trends, and statistics, which provide a solid overview of worldwide vendor performance in the industry. KLAS measures performance of software, professional services, medical equipment, and infrastructure vendors. For more information, go to www.KLASresearch.com, email marketing@KLASresearch.com, or call 1-800-920-4109 to speak with a KLAS representative. Follow KLAS on Twitter at www.twitter.com/KLASresearch.