{"id":5772,"date":"2014-12-24T11:40:56","date_gmt":"2014-12-24T06:10:56","guid":{"rendered":"http:\/\/ivyproschool.com\/blog\/?p=5772"},"modified":"2025-04-01T15:54:33","modified_gmt":"2025-04-01T10:24:33","slug":"how-analytics-is-used-in-the-healthcare-sector","status":"publish","type":"post","link":"https:\/\/ivyproschool.com\/blog\/how-analytics-is-used-in-the-healthcare-sector\/","title":{"rendered":"How Analytics is used in the Healthcare sector"},"content":{"rendered":"<p><strong>Are you ready to make your career in Healthcare Analytics? Then this is just for you!<\/strong><\/p>\n<p>The healthcare industry is undergoing a radical\u00a0transformation. From merely collecting data it is now turning towards extracting value-based insights. Improved patient care, reduction in costs and the prominent role of Public Health agencies, is driving increased application of analytics in healthcare.<\/p>\n<p>The global healthcare analytics market estimated at $4,430.9 million ( 2013), is expected to reach $21,346.4 million by 2020. Growing at a CAGR of 25.2% (2013 to 2020), analytics in healthcare is predicted to touch $10.8 billion by 2017. (<a href=\"http:\/\/www.marketsandmarkets.com\/Market-Reports\/healthcare-data-analytics-market-905.html\">Market &amp; Markets<\/a>)<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-stats.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5773\" src=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-stats.png\" alt=\"Healthcare stats\" width=\"523\" height=\"269\" srcset=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-stats.png 523w, https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-stats-300x154.png 300w\" sizes=\"auto, (max-width: 523px) 100vw, 523px\" \/><\/a>Source: <a href=\"http:\/\/www.marketsandmarkets.com\/Market-Reports\/healthcare-data-analytics-market-905.html\">Markets and Markets<\/a><\/p>\n<p>Perhaps the best example of analytics driving the healthcare sector in recent times is the Ebola outbreak, where Big Data, mobile and social media streams are being <a href=\"http:\/\/www.datanami.com\/2014\/11\/03\/hunting-ebola-big-data\/\">analysed to predict the next Ebola outbreak.<\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/WHO-ebola.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5774\" src=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/WHO-ebola.png\" alt=\"WHO ebola\" width=\"574\" height=\"429\" srcset=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/WHO-ebola.png 574w, https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/WHO-ebola-300x224.png 300w\" sizes=\"auto, (max-width: 574px) 100vw, 574px\" \/><\/a>Source: WHO<\/p>\n<p>With a booming population and a fast-growing healthcare industry, the momentum in Indian healthcare analytics has taken off. \u00a0Patient data is being \u00a0anonymised, collected and processed in real time or near real-time to predict disease vectors, cut costs and make decisions.<\/p>\n<p>Driven by primarily Predictive Analytics and Prescriptive Analytics, the market is dominated by healthcare providers, insurance companies and Government initiatives.<\/p>\n<p>Increased benefits of analytics are evident as companies can alleviate risk, recognise new opportunities and initiate strategies for effective ROI.<\/p>\n<p><strong>Major end-users of healthcare analytics<\/strong><\/p>\n<ul>\n<li>Healthcare payers, customer or patients<\/li>\n<li>Insurance<\/li>\n<li>Pharma<\/li>\n<li>Healthcare Providers &#8211; Hospital chains, Diagnostic services<\/li>\n<li>Healthcare Technology firms &#8211; healthcare analytics firms, software vendors, analytics service providers, IT vendors in healthcare analytics (applications, enterprise-level software, etc)<\/li>\n<li>World Health initiatives<\/li>\n<li>Government driven healthcare<\/li>\n<li>Academic and Research centres<\/li>\n<\/ul>\n<p><strong>Functional areas of Healthcare Analytics <\/strong><\/p>\n<p>While \u00a0descriptive analytics has held a major market share, with the following benfits fast becoming apparent, predictive analytics and prescriptive analytics are becoming the highest growing areas.<\/p>\n<ul>\n<li>Health surveillance<\/li>\n<li>Prediction of disease spread and incidence, and prevention<\/li>\n<li>Quality healthcare service delivery<\/li>\n<li>Regulatory compliance in the healthcare systems<\/li>\n<li>Optimisation of Health Insurance<\/li>\n<li>Reduction in healthcare costs, hospital readmissions and stays<\/li>\n<li>Improved Patient care (Clinical Analytics)<\/li>\n<li>Fraud detection<\/li>\n<li>Improved revenue cycle management<\/li>\n<li>Better health management \u2013 supply chain, workforce,<\/li>\n<li>Initiate innovations and research<\/li>\n<li>Drive Government policies and Practices<\/li>\n<\/ul>\n<p><strong>Techniques in Use (SMAC + Big Data + real-time)<\/strong><\/p>\n<p><a href=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-techniques.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5775\" src=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-techniques.png\" alt=\"Healthcare techniques\" width=\"504\" height=\"165\" srcset=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-techniques.png 504w, https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2014\/12\/Healthcare-techniques-300x98.png 300w\" sizes=\"auto, (max-width: 504px) 100vw, 504px\" \/><\/a><\/p>\n<p>Healthcare related organizations are in the process of collecting huge data, both internal and external. They are further leveraging the power of analytics in a <a href=\"https:\/\/ivyproschool.com\/blog\/blog\/2014\/05\/08\/why-is-smac-the-buzzword-of-2014\/\">SMAC <\/a>and Big Data ecosystem to generate useful insights. The objective is to optimize operations, drive customer satisfaction and operational efficiencies for a competitive edge and achieve goals set out by Governing bodies and e-Governance initiatives.<\/p>\n<p><strong>Bottom line<\/strong> &#8211; Indian <a href=\"https:\/\/ivyproschool.com\/blog\/blog\/2014\/03\/29\/spotlight-healthcare-analytics\/\">healthcare analytics<\/a> is in a nascent stage with a huge demand for talented professionals. So, this is the right time to learn about big data, real-time analytics and <a href=\"https:\/\/ivyproschool.com\/blog\/blog\/2014\/10\/07\/what-is-all-the-hype-about-disruptive-technologies\/\">disruptive technologies <\/a>that are driving the healthcare analytics market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The healthcare analytics market in india is poised for a phenomenal growth. Improved patient care, demand for greater operational and financial efficiencies, aggressive role of the insurance agencies and the dominance of Public Health policies, are driving increased application of analytics in healthcare.  This has created a demand for analytics professionals conversant with databases, BI, Big Data and Cloud.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[555,554,307,553,326],"class_list":["post-5772","post","type-post","status-publish","format-standard","hentry","category-data-analytics","tag-end-users","tag-functional-areas","tag-healthcare-analytics","tag-market","tag-techniques"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Analytics is Revolutionizing the Healthcare Sector.<\/title>\n<meta name=\"description\" content=\"Discover how analytics is transforming healthcare by improving patient care, reducing costs, and enhancing decision-making. 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