Menu

contact us

Top Healthcare Data Analytics Software Tools and Services in 2024

Get the inside scoop on the latest healthcare trends and receive sneak peeks at new updates, exclusive content, and helpful tips.

Contact Us






    Posted in Healthcare Management

    Last Updated | May 21, 2024

    Selecting the best vendor and solution can be challenging; it frequently involves extensive research and considerations beyond the solution’s technical capabilities. In this article, we’ve profiled some of the top healthcare data analytics software to make your search easier.

    Healthcare Data Analytics Software – Overview

    Healthcare data analytics software is a powerful tool that helps healthcare providers gain insights into their patient population and make informed decisions about care delivery. It is often part of larger healthcare software platforms and an essential offering from healthcare analytics companies.

    Analyzing Complex Healthcare Data

    The modern healthcare industry generates massive, complex, and sensitive data. To extract insights from this data, healthcare institutes need powerful and dedicated analytical software to process and analyze it, performing various analytical modeling, such as predictive, comparative, and cognitive modeling. 

    These analytical capabilities are required to thoroughly analyze complex healthcare data analysis to reveal insights to predict the best action.

    Enhancing Healthcare Services with Health Data Analytics

    Healthcare data analytics software is developed to handle complex data from the healthcare industry, improving healthcare services’ quality and minimizing medical procedures’ costs. This software comes with powerful tools to effectively handle challenges in the healthcare industry and offer real-time analytics to doctors, physicians, and other paramedic staff, assisting them in improving the quality of digital health practice.

    Real-Time Insights for Informed Decisions

    Healthcare data analysis software can understand complex data patterns, giving real-time actionable insights to help healthcare practitioners make well-informed, fact-based practice decisions. This improves clinics’ and hospitals’ operational and financial performance. 

    Over the past few decades, there has been a massive surge in the implementation of rigorous and advanced health data analytics tools in the sector to improve practice quality and comply with complex regulatory requirements.

    Reasons Why Your Healthcare Organization Needs Data Analytics

    Enhancing Patient Care with Healthcare Analytics Software for Data Analysis

    With so much data available to healthcare organizations, from appointment times to medical records, there is a lot of data to work with. A robust healthcare analytics software can sift through large amounts of patient data and extract meaningful insights and hidden patterns. 

    These findings can improve patient care in the following ways:

    • Identify at-risk patients and begin early intervention and subsequent treatment. Proactive healthcare can nip an illness before it evolves into something serious.
    • Patient Insights helps doctors develop treatments and medication plans based on specific patient conditions. A customized treatment plan ensures that patients get treatment tailored to their condition. 

    All healthcare organizations and professions aim to provide the best possible patient care. Their training, knowledge, tools, software, and processes want patients to be treated to the best of their abilities. Some use data analytics software for healthcare to improve their ability to provide better patient care and use real-world, real-time data to make it happen. 

    Healthcare analytics software for patient data analysis supercharges the process of using patient data for better treatment. The following sections cover the top vendors in healthcare data analytics that help healthcare professionals give patients the best treatment. 

    Top Vendors in Healthcare Data Analytics

    Given the high demand for healthcare data analytics solutions, many vendors offer dedicated analytical tools for the industry. These software include practice analytics software, pharma analytics software, and medical analytics software.

    Leveraging Advanced Technologies

    The company has established its expertise as a healthcare data analytics solution provider by developing multiple healthcare business intelligence software solutions, which are powered by leading technologies, including Artificial Intelligence (AI), Machine Learning (ML), Big Data, Natural Language Processing (NLP), and more. We must not underestimate the importance of healthcare business intelligence.

    The company’s health data analytics solutions come with intuitive and interactive interfaces and dedicated customer support solutions, enabling healthcare institutions to leverage the full potential of these advanced hospital analytics software.

    Customized Solutions for Leading Hospitals

    The company has already developed various customized healthcare data analytics systems for some leading hospitals across different countries, demonstrating its ability to deliver tailored solutions that meet the specific needs of healthcare organizations, such as medical device data analytics or hospital business intelligence software.

    The Top Healthcare Analytics Companies

    Here are the best healthcare companies in the market today:

    SPSS – IBM Healthcare Data Analytics Software

    IBM, founded in 1911 and headquartered in New York, is a leading technology company offering state-of-the-art solutions across various sectors and industries. The company operates five distinct business segments, including technology services & cloud platforms, cognitive solutions, systems, global financing, and international business services.

    SPSS Software is IBM’s dedicated analytical technology solution for the healthcare industry. It provides powerful analytical tools to improve healthcare institutions’ workflow processes, quality, and productivity. The IBM SPSS solution for healthcare analytics comprises advanced features that can perform predictive, prescriptive, and descriptive analytics. These capabilities significantly enhance the capacity of healthcare practitioners and institutes to offer integrated and end-to-end solutions.

    IBM’s healthcare analytics solutions leverage big data and cognitive computing resources to support healthcare transformation by augmenting evidence-based decision-making. The company’s analytic tools utilize various types of healthcare data, including structured data from electronic health records (EHRs), genomic sequences, streaming data from patient monitoring, and unstructured data such as journal articles, textbooks, guidelines, and narrative parts of EHRs.

    IBM’s healthcare analytics software aims to help clinicians make more personalized, evidence-based decisions by extracting relevant information and providing insights. These solutions are designed to navigate complex, dynamic, and uncertain healthcare environments, identify patterns, draw inferences, and learn from experience.

    Flatiron Healthcare Data Analytics Tool

    Although relatively new compared to IBM, Flatiron has garnered significant support from investors like Google, Ventures, and Altos, establishing itself as a critical player in the health data analytics software industry. 

    With nearly 500 employees dedicated to developing an integrated and robust data analytics solution, Flatiron has made a substantial impact. Healthcare institutions are already utilizing the company’s healthcare data analytics tools to manage the data of over two million patients. Notably, Flatiron is at the forefront of providing technology solutions for oncology.

    Telemedicine

    Digital Reasoning Systems for Healthcare Analytics Solutions

    Digital Reasoning Systems is a notable player in the healthcare data analysis software industry, having significantly impacted in a relatively short period. The company’s partnership with the Hospital Corporation of America (HCA) has further solidified its position as a premium healthcare analytics software solution provider in the country.

    Synthesis: AI-Powered Healthcare Solution

    Digital Reasoning Systems’ signature healthcare solution, Synthesis, harnesses the power of Artificial Intelligence (AI) and Natural Language Processing (NLP) to provide healthcare institutions with powerful tools to analyze and process complex patient records efficiently. 

    This solution enhances healthcare professionals’ ability to extract insights from large volumes of patient data, ultimately improving the quality of care and operational efficiency.

    Ayasdi – AI for Healthcare Analytics

    Ayasdi is a well-established technology player serving various Fortune Global 500 businesses. In 2015, the company was declared “The Technology Pioneer” by the World Economic Forum, establishing the technological prowess of the company. Ayasdi offers ready-to-use healthcare data software analytics tools to boost the operational efficiencies of hospitals and clinics across various areas, including denial management, clinical variation management, and population health predictions.

    Health Fidelity – NLP Enabled Solution for Healthcare Analytics

    Health Fidelity is a relatively new and small technology solution provider that aims to offer healthcare institutions sizeable data analytics solutions. The company works with around 80 employees and has raised over USD 19 million in investment. 

    Health Fidelity claims to be the leader in the Natural Language Processing engine, which is meant to assist healthcare practitioners in leveraging powerful analytical tools to assess areas of risk in their practice.

    Data Analytics Software And Services Free Demo by Folio3 Digital Health 

    Based in Silicon Valley, Folio3 is known for its expertise and experience in offering state-of-the-art analytical solutions to different businesses. Founded by MIT graduates, Folio3 has become one of the biggest technological solution providers in the USA and abroad.

    Every Folio3 digital health product is HIPAA compliant and uses HL7 and FHIR interoperability standards. So whether you’re looking for improved data visualization for better decision-making or a custom healthcare data analytics solution, Folio3 has everything you need and then some. 

    Takeaways

    These are just some vendors offering data analytical tools for healthcare institutions. The key to choosing the right technological partner for healthcare institutes lies in selecting a vendor that provides customized solutions to meet the unique needs of clinics or hospitals. 

    Many vendors also offer free trial periods for their systems, which can be an excellent resource for assessing individual software’s value to your healthcare institute.

     

    About the Author

    Noc Folio3