Chilmark Research’s latest report reveals the population health market is still in its infancy despite increasingly interest from healthcare organizations.
As the healthcare delivery model shifts towards value based healthcare, the need for effective population health management solutions continues to grow. Despite the surge in interest from healthcare organizations, the newest report from Chilmark Research, their 2014 Analytics for Population Health Management Market Trends Report, reveals the PHM market is still in its infancy. The report finds that healthcare organizations are currently struggling with evolving models of reimbursement while PHM vendors have yet to successfully build solutions to fully meet market needs.
With the increasing link between reimbursement and clinical outcomes, healthcare organizations must successfully leverage data (clinical, claims, demographic, and others) to improve overall care delivery. The report found over 100 vendors masquerading as PHM vendors; however, only a few actually delivered on their claim to address analytics for PHM.
Growing Presence of EHRs
The report found a significant change over the past year’s report with vendors working with clients to create analytics-driven PHM applications that can successfully mine clinical data. Embedded, easy-to-use PHM applications are going to be critical to next generation EHR products that wish to see continued growth by upselling into their installed base and capitalizing upon new opportunities. Despite these advances, EHR vendors still lag behind best of breed vendors. To compete against the best of breed PHM soltuions, EHR vendors will have to acquire the best of breed vendors that is best suited or their target market. For healthcare organizations, this shift will create additional vendor selection changes
“Vendors can be roughly divided into two categories: best-of-breed and platform-play vendors depending on their particular products and marketing strategies. It is currently a best-of-breed market, with providers adapting vendor solutions to meet a particular need created by a specific payment contract. Vendors aspiring to be become enterprise-wide platforms find ‘enterprise-thinking’ HCOs in short supply,” states author of the report, analyst Cora Sharma.
The report also includes in-depth profiles of 19 vendors rated by their ability to meet diverse requirements that break down analytics for PHM into three hierarchical domains of:
– Data Aggregation;
– Population Insight
– Care Management
– Workflow and Action
No PHM vendor excels in all categories, but several are making significant progress, while others must make significant work to do if they plan to stay relevant in this market.
The report is available to subscribers of the Chilmark Advisory Service or may be purchased separately. For more information, visit www.chilmarkresearch.com/reports.
