The market for healthcare predictive analytics should hit $19.5 billion by 2025, according to a new report by Grand View Research.
This is largely due to government authorities, health organizations and private players who are striving to decrease healthcare expenditures. Predictive analytics can help bend the cost curve by optimizing an organization’s existing clinical workflow, operations and payment strategies.
The data that feeds this trend is flowing freely. With the advent of the internet of things in healthcare and wearable technology, people are more closely tracking their health by the numbers, generating a huge amount of patient data on things like diet habits, physiological parameters and vital signs. Predictive modeling based on this data helps in understanding disease patterns, as well as key therapy trends and outcomes.
HENRY KOTULA 