A report published by ReportLinker.com predicts that healthcare regulations and the perceived benefits of analytics technology use will help drive double-digit increases in the health analytics market over the next four years.
The global market for healthcare analytics products could reach more than $10 billion in value by 2018 with a 22 percent compound annual growth rate, ReportLinker.com said Wednesday.
According to the analysis, market gains will primarily be driven by predictive and precriptive analytics offerings in the U.S. and Asia.
U.S. government policies on the International Statistical Classification of Diseases and electronic health records technology are also cited in the report as key for industry growth.
The report noted healthcare providers believe using analytics can work to improve an organization’s revenue management cycle, consolidate multiple clinical tools and analyze claims data for any fraudulent transactions.