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Using Econometrics to Predict Medical Device Purchasing TrendsSeptember 12, 2017In healthcare, econometrics can be used to describe anything from healthcare infrastructure to return on investment, but in this brief, econometrics will be in reference to healthcare infrastructure. In regards to medical devices, econometrics provides a parameter, or structure, within which the purchasing of medical devices occurs; however, penetration of markets and external factors such as political, economic, regulatory shifts have a subsequent effect on the dynamics and volume of purchasing.
Vendor neutral study volumes to reach 7.2 billion during 2021April 13, 2017Many vendor neutral archive (VNA) products are evolving to add functionality that enables advanced workflow capabilities on top of storage and disaster recovery. As data becomes increasingly important to healthcare systems, VNA platforms are bringing together disparate patient information silos to form a more complete longitudinal medical record.
Automated Means to a Connected End: Highlights from the American College of Cardiology Conference 2017March 28, 2017Enterprise platforms and the provision of real-time, business intelligence analytics are two main highlights observed at the American College of Cardiology Conference this year.
New mobile and FPD market entrants – Highlights from RSNA 2016December 05, 2016The opening of the doors to RSNA once again marks the nearing of the end of another busy year in the healthcare technology industry. 2016 has been a year of mergers and acquisitions, changing business names, changes in reimbursement, and political mayhem.
MACRA, Telemedicine and Walmart - The ATA Fall Forum 2016October 07, 2016The themes of the American Telemedicine Association’s (ATA) 2016 Fall Forum were familiar, but discussed with increased optimism as the long anticipated evolution from traditional healthcare to more efficient provision is well under way. Some of these themes included EMR integration, healthcare as an international business, increased consumer awareness (Walmart and other direct-to-consumer models), innovation from third party vendors, and the Medicare Access & CHIP Reauthorization Act (MACRA).
Time to Mature: What is next for Medical Enterprise Imaging?December 11, 2015The annual RSNA conference at McCormick Place had similar themes to last year’s show, with most vendors keeping their focus on familiar topics, including the need for continued innovation beyond the radiology department, greater interoperability and the expansion of cloud technology in healthcare. Discussion concerning medical enterprise imaging also remained relatively unchanged from last year’s conference, though this may be a sign of where market focus will be directed over the next few years.
Three Key Themes at the KronosWorks 2015 ConferenceNovember 24, 2015An estimated 1,800 guests attended this year’s KronosWorks, looking to hear about the latest products from Kronos Inc. as well as the vendor’s general expectations for human capital management (HCM) technology moving forward.
Cognitive Computing in HealthcareNovember 19, 2015The stigma around using artificial intelligence has led to the term ‘cognitive computing’. As excitement and, quite frankly, the need for data mining and analysis engines grows, it is being viewed differently by the healthcare community. There are two reasons why cognitive computing will be welcomed in the healthcare market.
Healthcare IT: Managing the Care Continuum through Technology InnovationNovember 12, 2015As part of the Medical Technology research methodology at IHS, we regularly hold conversations with the vendors providing hardware and software solutions to healthcare providers, as well as the providers themselves. This article is the second in a series that highlights key points from these recent provider discussions. In general, all of the conversations in this series involve managing the care continuum through technology innovation. The following discussion was held with Courtney Green, Director of Nursing at OhioHealth and Sue Schodorf, Application System Consultant at OhioHealth. Specific topics covered include medical human capital management (also known as workforce management), cloud-based solutions, analytics and EMR integration.
Predictive Analytics at the HR Tech 2015 Conference – Check back in 2016October 29, 2015Any vendor that is not already talking about predictive analytics will quickly fall behind the curve, with both new startups and established ERP vendors at HR Tech touting their latest progress for gathering, sorting and analyzing big data for strategic HR management.
IBM acquisition of Merge Healthcare will spur new era of radiologyAugust 13, 2015Last week IBM announced the acquisition of Merge Healthcare, one of the largest suppliers of medical imaging IT and vendor neutral archiving (VNA) globally. IBM’s new and significant investment play into healthcare (following acquisition of Phytel Inc. and Explorys Inc. in the last year), is based on expanding the capability of IBM’s artificial intelligence (AI) platform ”Watson” to drive new diagnostic software for medical applications.
Five Key Trends Driving Medical Talent Management IT MarketJuly 22, 2015Compared to other medical human capital management (HCM) submarkets, like payroll or time and attendance, talent management is viewed by most vendors as an underpenetrated market. Growth in this sector will depend on a variety of factors, including the shift from single talent management applications toward integrated talent management suites, Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) surveys, an increasing focus on population health and the global shortage of medical talent. IHS expects that hospitals and other care facilities will continue to seek ways to integrate such systems within a larger HCM platform. Based on feedback from vendors and providers, the following additional trends will be key through 2020.
High-acuity IT systems gaining priority to provide integrated careMay 12, 2015Healthcare providers are increasingly focusing on smarter ways to provide advanced healthcare while remaining cost efficient. With healthcare budgets highly scrutinized amidst the repercussions of the global economic recession, resources for new product acquisitions are limited, and products today need to show they provide both clinical and cost benefits to purchase. For their part, purchasers are seeking products that enable them to not only remain profitable, but also to make significant cost savings further down the line. As a consequence, there is increasing interest to implement IT software that will streamline the patient pathway and improve financial outcomes.
Advanced Analytics Still Rare in Medical Human Capital Management IT InstallsApril 29, 2015Analytics is certainly a buzzword in the US healthcare IT market. As the amount of healthcare data continues to expand exponentially, vendors are seeking ways to efficiently and effectively harness data and extract value from it. Despite the hype, vendors and providers have primarily focused on descriptive, or retrospective analysis, while predictive and prescriptive analytics have had trouble finding their way into the discussion (for many providers, prescriptive analytics is still conceptual rather than reality).
Talent Management to Drive Medical Human Capital Management MarketMarch 10, 2015Labor expenses can represent between 50 to 60 percent of a hospital’s operating expenses on average. Despite the high cost of sustaining a clinical team of care professionals, many hospitals and physician practices have yet to develop a proactive strategy for managing their future workforce requirements. Part of the struggle with this strategic planning is trying to balance changing workforce demographics, recruitment and retention needs, reimbursement reform, shifting service delivery models and the evolving capabilities of IT systems.Subscribers Only
United States Health Information Exchange Adoption Lags Behind Despite Large InvestmentsFebruary 19, 2014The United States had the largest market for health information exchange (HIE) in the world in 2013. Stimulus dollars allocated toward the advancement of the US healthcare system through the HITECH Act and the governments meaningful use initiative have aided the development of the HIE market in the United States. However, the adoption rate of HIE in the United States continues to lag behind countries in Scandinavia and Oceania.