Healthcare Financial Analytics Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Type, Component, Deployment (On-premise and Cloud-based), and Geography

Market Snapshot

Study Period:

2017-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

17.5 %

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Market Overview

Big data analytics is a fast-emerging topic in healthcare analytics. The emerging blend of bioinformatics and health informatics has encouraged research in all the healthcare segments, such as target drug, personalized medicine, clinical decision support, and population health management. The demand for big data analytics integrates the most recent innovation in machine learning, logical methodologies, computational intelligence, and data mining. Many healthcare experts including payers, providers are now starting to analyze big data to obtain detail knowledge, even though these efforts are still in the early stages, this effort would collectively help to tackle the industry-related problems regarding inconsistency in healthcare quality and escalating healthcare expenditures. The improvement in the quality of people's daily health and life activities as well as big data analytics to support and promote such research activities are some of the factors driving the market growth.

Scope of the Report

As per the scope of the report, financial analytics is a part of advanced analytics that are required for claims processing, payment integrity and fraud, waste, and abuse (FWA). and risk assessment.

By Type
Claim Analytics
Revenue Cycle Management
Risk Management Analytics
Others
By Component
Hardware
Software & Services
By Deployment
On-premise
Cloud-based
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Cloud Based Segment is Expected to Show Better Growth over the Forecast Period

Based on deployment, it is segmented into on-premise, and cloud-based. The cloud-based segment is expected to show better growth during the forecast period, owing to the Increasing adoption of cloud platforms. The financial analytics market is driven by the rising application of cloud analytics as it allows organizations to incorporate data from all sources. In addition, the demand for better claims and revenue management systems in healthcare and cloud computing acceptance across various industries has pushed the financial planning to a new level and is expected to have a positive effect on the healthcare financial analytics market.

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North America Dominates the Healthcare Financial Analytics Market

The healthcare infrastructure in the United States is expected to reflect positive trends in the financial analytics domain, owing to factors such as technological advancements, high requirement of management of big data generated from hospitals and other healthcare facilities. Furthermore, the growing popularity of software in the management of data reduces the manpower leading to increased adoption of healthcare financial analytics. Hence, the rising demand of advanced technologies across various verticals is expected to enhance the growth of the studied market.

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Competitive Landscape

The global players in the healthcare financial analytics market are – IBM, Allscripts Healthcare Solutions, Cerner Corporation, Health Catalyst, Mckesson Corporation, Optum Inc, Oracle Corporation, SAS Institute Inc. and Verisk Analytics, Inc.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Emergence of Big Data in Healthcare

      2. 4.2.2 Growing Awareness For Digital Technologies

      3. 4.2.3 Technological Advancements Making Data Handling Easy

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Properly Trained IT Professionals in Healthcare

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Claim Analytics

      2. 5.1.2 Revenue Cycle Management

      3. 5.1.3 Risk Management Analytics

      4. 5.1.4 Others

    2. 5.2 By Component

      1. 5.2.1 Hardware

      2. 5.2.2 Software & Services

    3. 5.3 By Deployment

      1. 5.3.1 On-premise

      2. 5.3.2 Cloud-based

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 IBM

      2. 6.1.2 Allscripts Healthcare Solutions

      3. 6.1.3 Cerner Corporation

      4. 6.1.4 Health Catalyst

      5. 6.1.5 Mckesson Corporation

      6. 6.1.6 Optum Inc

      7. 6.1.7 Oracle Corporation

      8. 6.1.8 SAS Institute Inc.

      9. 6.1.9 Verisk Analytics, Inc

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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