Practice Analytics can be defined as the capability to evaluate and examine the state of a practice in a business, it is also a tool that is essential to support and produce a business. Practice analytics is an easy to use report writing and business intellect tool that can be utilized by directors, managers, providers and support staff. In practice analytics, analysing data in detail and summarizing it, preparing reports and presentation graphics, along with generating data files for exports to other applications are major driving factors responsible for growth of this market. Increasing in SaaS (Software as a Service) based analysis and SQL database which is a more demanding database language will also boost the growth of this market.
Analysing the data is too time consuming which may hamper the growth of this market.
The global practice analytics market is expected to grow at a CAGR of 11.5% during forecasted period of 2017-2023.
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Segmentation
Global practice analytics is segmented by its module type and on the basis of application. On the basis of module type, it is segmented in to clinical module, front office module, and business module. On the basis of application, it is segmented into standard reports, graphical user interface design, SQL database and others.
Regional Analysis
On regional basis, the practice analytics market is segmented into America, Europe, Asia Pacific and Middle East & Africa. America commands the largest market due to remarkable use of information technology in healthcare industries. Increasing industrialization and increase in development in IT industries have driven the growth of this market.
Europe is second largest market for practice analytics market followed by Asia Pacific. This is due to availability of funds for research and development activities and the growing emphasis on software based techniques in healthcare industries.
Asia Pacific shows the fastest growth of this market due to an increase in investment in IT industries along with research and development taking place in the healthcare IT industry. Particularly, India and China are expected to be an emerging and fastest growing market of practise analytics.
Middle East and Africa has the lowest market for practice analytics due to lack of technical knowledge and poor medical facilities.
Key Players for Global Practice Analytics Market
Some of the key players in this market are Accenture (US), AGS Health, Inc. (India), Practice Analytics (US), Greenway Health, LLC (US), MediSys (US), Cardinal Health (US), McKesson Corporation (US), Harris digiChart (US), Meditab (US), UroGPO (US), Global Health Management Services (US), IBM and KNIME (Switzerland).
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