Report: Providers Hunt for BI Software
Half of all provider organizations are looking to buy business intelligence software within the next three years to help them better comply with regulatory, health information exchange and accountable care organization challenges, according to a report by KLAS Enterprises.
The Orem, Utah-based vendor research firm found that 33% of its surveyed providers were looking to purchase a new system, while 19% wanted to replace an existing application. The survey is part of the organization’s “Business Intelligence Perception 2012: A Wave is Coming” report.
Providers interviewed for the report also said they want to use business intelligence systems for predictive analysis, data modeling, forecasting and trending. Some also indicated that they plan to use a hybrid approach to business intelligence, making use of software from multiple vendors to meet their needs.
“Seventeen percent of the customers we spoke with said that they are using multiple BI solutions to meet various departmental and reporting needs,” says Joe Van De Graaff, author of the report. “And that number is likely to grow.”
The report also discusses:
- How providers view prepackaged business intelligence software versus tool sets
- Core clinical vendors as opposed to third-party firms
- How providers are considering consulting firms for their BI strategies
- And how providers perceive each BI vendor’s technology and performance.
Healthcare organizations interviewed for the study identified 37 different vendors they were considering for business intelligence technology.
McKesson Corp., San Francisco, led the pack with the most provider considerations, followed by IBM Corp., Armonk, N.Y., Oracle Corp., Redwood Shores, Calif., QlikTech International, Radnor, Pa., and SAP, Newton Square, Pa., rounding out the top five alphabetically. In addition, several other core electronic health records software vendors were mentioned.
One healthcare CIO told KLAS that “if hospitals can’t produce data analytics in the next couple of years, they are going to suffer. Data is money in the future.”
The KLAS business intelligence report is available to healthcare providers for a discount. Providers and vendors can go to www.klasresearch.com/klasreports for more information, or to purchase the report.