Pop health, analytics driving change in medical imaging market, report says
- Analytics and population health tools are transforming the medical imaging market from one that values quantity to one that emphasize quality, safety and workflow efficiencies, according to a new Frost & Sullivan report.
- Faced with new performance requirements and value-based payment incentives, providers want technologies that improve interoperability and offer analytics-driven solutions.
- “The effect of both internal and external challenges has already taken its toll on the industry,” Tanvir Jaikishen, senior research analyst at Frost & Sullivan, said in a statement. “The way for stakeholders to not only address these challenges but also succeed will be to judiciously use products, services and solutions that improve the efficiency of the imaging process, reduce costs and improve efficiency without compromising quality.”
Data analytics, remote patient monitoring and other new-age tools allow physicians to track and manage patients with chronic conditions, helping to reduce healthcare costs. Medical imaging could be another piece of the population health pie.
Among the potential areas for growth in the imaging market are machine-learning tools that focus on population health rather than episodic care, the report says. Other opportunities include:
- Developing analytics that sift through thousands of images to enhance the imaging process and provide a better patient experience;
- Creating strategies that help smaller provider groups increase productivity and automation, offer new product lines, attract patients and boost revenues; and
- Partnering with regulators to develop tools for reporting on quality metrics, so that radiologists can qualify for incentive payments.
Key players in the medical imaging market include GE Healthcare, which is developing solutions to improve workflow productivity in imaging, and Philips Healthcare, which dominates the market in healthcare enterprise partnership, according to the report.