Frost.com - Connected Health Research http://www.frost.com/c/10260/home.do - Connected Health Research Thu, 19 Oct 2017 2:40:02 An End User Perspective on Navigating Digital Transformation, Healthcare, Global, 2017 http://www.frost.com/prod/servlet/sublib/display-report.do?id=K239-01-00-00-00 The overall research objective is to measure the current use and future decision making behavior toward information technology (IT) in the healthcare industry around the globe, specifically: Enterprise Mobility Management, eCommerce/mCommerce, Unified Communications & Collaboration (UCC), Infrastructure and Data Centers, Big Data and Analytics, Omnichannel Marketing, Customer Experience Management, Cyber Security, Internet of Things, Enterprise Content and Business Processes Management, Fintech, and API/CPaaS (Application Programming Interface/Communications Platforms as a Service) Strategy. Frost & Sullivan aims to: Understand the IT-related challenges organizations face today Monitor the status of digital transformation including newer solutions such as Artificial Intelligence (AI), Augmented Reality/Virtual Reality (AR/VR), and mCommerce Assess the current and future use of business communications technologies Evaluate factors that drive investments in communications technologies Gauge IT and communications trends Appraise available IT budgets Healthcare s top IT challenge is different from other industries 34% of respondents find that systems integration and managing multi-vendor solutions is the biggest concern. Dealing with security concerns in second place (26%), followed by ensuring network stability/reliability (26%). Most other industries claim security is their biggest challenge. Technologies that have the most impact on revenue growth in healthcare are cyber security, big data and analytics, and data centers. Respondents who have invested in IoT find that its top benefits include the ability to boost customer service/marketing, improve employee safety, collect customer usage data, and optimize field or on-site operations. When asked the question how critical are the following investments for your organization's digital transformation success over the next 5 years, data analytics and communications/collaboration tools integration with other business software (Microsoft Office, Google G-suite, CRM, ERP, vertical apps) came out ahead. With healthcare in a period of changing regulations, new and innovative procedures, drugs, and devices, and political uncertainty, and effective digital transformation will be crucial across the industry. Mon, 9 Oct 2017 00:00:00 +0100 Artificial Intelligence and Advanced Analytics in Healthcare http://www.frost.com/prod/servlet/sublib/display-report.do?id=D7DF-01-00-00-00 The global healthcare industry is in need of solutions that augment providers with insights to make meaningful clinical decisions within less turnaround times, which is critical to demonstrating value of care. Artificial Intelligence has proven its utility in performing data-mining activities on large sets of patient and population health data, addressing vital gaps in automating the clinical workflow. Adoption of artificial intelligence technologies has reduced healthcare costs by 50%, while improving patient outcome by over 50%. Advanced analytic frameworks evaluate 'unstructured data', such as physician-entered notes, health statistics, clinical literature and radiology reports to deliver trends critical to improving the quality of healthcare. This research service (RS) offers a strategic perspective on the impact of artificial intelligence (AI) and advanced analytics on the global healthcare industry. This RS has been segmented into five chapters, with the first two focusing on analysis of the top trends from both technology and competitive perspectives. the third, fourth and fifth chapters focus on the global adoption landscape, reviewing the roles and strategies of both existing and emerging participants. Key questions answered by this research services (RS): 1. What are the major classes of artificial intelligence and advanced analytics technologies? What are the sub-classification of technologies for various clinical applications by commercial attractiveness and intensity of patenting activities? 2. Who are the key stakeholders within the global healthcare industry, including medical device companies, pharmaceutical companies and biotechnology firms that are pioneering technology development initiatives for driving sustainable market growth efforts across potential markets? 3. What is the role of stakeholders across the value chain and their efforts towards development of technologies? 4. How has the global competitive landscape evolved over the past decade, especially with respect to those innovating artificial intelligence solutions for addressing needs faced by the global healthcare industry? Fri, 29 Sep 2017 00:00:00 +0100 Telehealth: Tomorrow s Breakthrough Challenged by Today s Problems http://www.frost.com/prod/servlet/sublib/display-market-insight.do?id=297913586 Telehealth, sometimes referred to as telemedicine, is a combination of telecommunication services combined with advanced medical device technology and cloud-based platforms used to deliver healthcare to patients not in the same physical location as the provider or care giver. Thu, 28 Sep 2017 00:00:00 +0100 US Telemental Health Market, Forecast to 2021 http://www.frost.com/prod/servlet/sublib/display-report.do?id=K203-01-00-00-00 The latest report in the Frost & Sullivan's telehealth series finds that telemental health services and communications enablers are poised to increase in utilization because they offer a therapeutic environment similar to traditional in-person methods, minus the time and costs associated with traveling to a treatment site assuming one is even available. Overall telemental health market revenue is expected to increase at a compound annual growth rate of 22.5% from 2016 to 2021. This report reviews the data that illustrates the magnitude of mental health and substance abuse issues prevalent across the United States coupled with the documented lack of nearby mental health professionals in many locations. The research shows examples of several ongoing programs that have made strides despite a variety of barriers, such as the lack of a standard reimbursement process across states, that must be overcome for these services to achieve their full potential. This report also covers a mix of pure-play telemental health specialists and telehealth companies that have extended their service to include telebehavioral health services, including InSight Telepsychiatry, American Well, Teladoc, MDLIVE , Vidyo, and WeCounsel. Major questions this report will answer include: What are the latest trends impacting the telemental health space? How is the telemental market segmented, and who are the major participants in each segment? What combination of economic supply and demand factors and mental health condition and substance abuse prevalence statistics appear to make the wide-scale adoption of telemental health inevitable? What are the competitive characteristics of the telemental health market, and who are some of the key vendors serving the market and the segments? What is the 5-year revenue outlook for the market and the major segments? Frost & Sullivan found that telemental health services have the potential to become the most successful telehealth application within the next five years. The industry will benefit from the prevalence of mental health and behavioral issues. By 2021, telemental health services will gain recognition as a proven solution to the challenge faced by people who have little or no access to mental health professionals. Tue, 26 Sep 2017 00:00:00 +0100 Growth Opportunity Assessment of Healthcare IT Market in the United Kingdom, Forecast to 2021 http://www.frost.com/prod/servlet/sublib/display-report.do?id=MD36-01-00-00-00 Key Growth Opportunities in the UK include data sharing and interoperability, cloud, mobility, as well as further new investment in core health IT solutions to best meet the needs of providers in a changing market environment. However, the identification of these Growth Opportunities is only the first step towards succeeding as a vendor in this market. The real demystification lies in understanding very specific target-customer needs and then building a value proposition that addresses those needs. UK, Germany, France and Spain collectively spend over $6 billion on healthcare IT and the regional HCIT adoption stands at almost 80%. The focus of key decision makers in the region will shift from healthcare IT solutions that can capture data to solutions that can enable data sharing and clinical decision support. Between December 2016 and March 2017, Frost & Sullivan conducted a survey of IT managers from 198 hospitals across Western European countries. Findings of the survey were further investigated through in-depth discussions with market vendors and Frost & Sullivan industry thought leaders. Outcomes of the research have been collated into a 4-part series detailing the HCIT landscape across EU4 (The United Kingdom, Germany, France and Spain). Our research found that in spite of a high level of EMR adoption only a little more than 15% of large hospitals share data beyond their organization. This has been a huge detriment to efficient and productive health data utilization across all countries included in this study. However, with changing care paradigms, such as focus on patient-centricity, innovation in care delivery models and the demand for workflow efficiency, improving health data continuity will be a key goal for both governments and providers over the next five years. As a result, interoperability, and standards development and adoption will be major priorities across health systems. Overall, the healthcare IT market in the UK will be driven by eHealth initiatives, changing procurement landscape and emerging digital health platforms that increase collaboration between care segments, enable patient centricity, and encourage high resource utilisation at optimised costs. Vendors will have to consistently demonstrate their core competence by offering hospitals sustainable business models, centred on improved connectivity, accessibility and interoperability of healthcare. Emerging technologies such as cloud, healthcare business intelligence and data analytics will be in demand. This is only a sample of insights that you can gain through our research. Key questions answered in this study include: What are the current trends, challenges and drivers for healthcare IT investment? What will be the most promising growth opportunities and key investment areas over the next five years? How is health IT adoption evolving? What will be the impact and adoption of new technologies? How will these change current industry paradigms and/or bring in new business models? How are the initiatives at the national and the regional level for eHealth adoption impacting the market? What are the current vendor landscape and the tiers of competition in select segments (e.g., Total Health IT, EHR, PCIS)? How are they expected to evolve over the next five years? What do healthcare providers expect when investing in healthcare IT and how has this evolved over the years? What is the forecast for hospital Health IT in the UK until 2021? Mon, 25 Sep 2017 00:00:00 +0100 Growth Opportunity Assessment of Healthcare IT Market in France, Forecast to 2021 http://www.frost.com/prod/servlet/sublib/display-report.do?id=MD75-01-00-00-00 UK, Germany, France and Spain collectively spend more than $6 billion on healthcare information technology (healthcare IT) while regional adoption stands at almost 80%. Healthcare IT markets in these countries are ready to embark upon the next level of digitalisation where providers move from data capturing solutions to those that can derive value from data through improving information sharing, analytics and clinical decision support. France embarked upon the Digital Hospital Strategy as part of its five-year plan (from 2012 to 2017) with the goal of fully digitizing the care delivery system by the end of this period. In spite of a high level of EMR adoption, the country suffers from delays and cost over-runs in comparison to the initial digitalisation plans and intends to rapidly progress towards Stage 5 7 EMRs over the next three years. Integrating care delivery is a key priority for the health system as a whole, which includes developing facets like remote health monitoring, telemedicine, mHealth and IoMT, which enable care delivery outside the hospital. Between December 2016 and March 2017, Frost & Sullivan conducted a survey of IT managers from 198 hospitals across Western European countries. Findings of the survey were further investigated through in-depth discussions with market vendors and Frost & Sullivan industry thought leaders. Outcomes of the research have been collated into a 4-part series detailing the HCIT landscape across EU4 (The United Kingdom, Germany, France and Spain). Our research found that only a little more than 15% of large hospitals across EU share data beyond their organization. This has been a huge detriment to efficient and productive health data utilization across all countries included in this study. However, with changing care paradigms, such as focus on patient-centricity, innovation in care delivery models, and demand for workflow efficiency, improving health data continuity will be a key goal for both governments and providers over the next five years. As a result, interoperability, and standards development and adoption will be major priorities across health systems. France is also targeting improving collaboration and data sharing between healthcare providers and care settings, especially to enable remote care for the elderly and the chronically ill. Inconsistent implementation of initiatives, such as the Dossier Medical Patient (DMP), for establishment of HCIT infrastructure has resulted in fragmented adoption and created complex data silos. To achieve the goal of improving population health, France will need a more harmonized approach to healthcare digitalisation. The eHealth Strategy 2020 has resulted in a business environment conducive to the growth of eHealth vendors. Business models that demonstrate positive clinical and financial outcomes along with partnerships with key stakeholders will be the key to success. Consumers are playing an increasingly evident role in managing their own health. More than 20% of patients in France use connected devices with a high propensity for using them for chronic disease management. France also showcases an unusually high affinity amongst physicians to advocate use of connected devices to support home monitoring. As a result, telehealth technologies and remote care delivery models will emerge as a key growth opportunity and the government is already working towards establishing a regulatory framework that makes sustainable business models through reimbursements possible in this arena. This is only a sample of insights that you can gain through our research. Key questions answered in this study include: What are the current trends, challenges and drivers for healthcare IT investment? What will be the most promising growth opportunities and key investment areas over the next five years? How is health IT adoption evolving? What will be the impact and adoption of new technologies? How will these change current industry paradigms and/or bring in new business models? How are the initiatives at the national and the regional level for eHealth adoption impacting the market? What are the current vendor landscape and the tiers of competition in select segments (e.g., Total Health IT, EHR, PCIS)? How are they expected to evolve over the next five years? What do healthcare providers expect when investing in healthcare? What are the key vendor-/solution-selection criteria of providers while investing in health IT? Mon, 25 Sep 2017 00:00:00 +0100 Technology Innovations for Patient Engagement http://www.frost.com/prod/servlet/sublib/display-report.do?id=D7D0-01-00-00-00 Patient engagement is crucial to better clinical outcomes and a high-performing health system. Patient engagement improves communication between the patients and their care providers, resulting in timely access to healthcare, reduces hospital re-admissions, and enables efficient management of illness. This research service showcases the different technology innovations in patient engagement and how is it impacting the healthcare industry. Digital patient engagement solutions such as use of patient portals, mobile applications, wearables, to even more advanced and emerging technologies such as artificial intelligence, virtual reality and interactive robots and the impact of these technologies on medication adherence, chronic disease or mental health disease management, hospital patient management, population health management, and for pharmaceutical companies are discussed. Mon, 25 Sep 2017 00:00:00 +0100 Growth Opportunity Assessment of Healthcare IT Market in Germany, Forecast to 2021 http://www.frost.com/prod/servlet/sublib/display-report.do?id=MD71-01-00-00-00 UK, Germany, France and Spain collectively spend more than $6 billion on healthcare information technology (healthcare IT), while regional adoption stands at almost 80%. Healthcare IT markets in these countries are ready to embark upon the next level of digitalization where providers move from data capturing solutions to those that can derive value from data through improving information sharing, analytics and clinical decision support. Germany, as a country, is unique due to the early position it took towards enhancing chronic disease management in the country. As of 2017, key Growth Opportunities in the German Healthcare IT market include data sharing and interoperability solutions, cloud platforms, digital mobility, and investments in technologies that support new models of care delivery, like telehealth and telecare. However, the identification of these Growth Opportunities is only the first step towards succeeding as a vendor in this market. The real demystification lies in understanding very specific target customer needs and then building a value proposition that addresses those needs. Between December 2016 and March 2017, Frost & Sullivan conducted a survey of IT managers from 198 hospitals across Western European countries. Findings of the survey were further investigated through in-depth discussions with market vendors and Frost & Sullivan s industry thought leaders. Outcomes of the research have been collated into a 4-part series detailing the HCIT landscape across EU4 (the United Kingdom, Germany, France and Spain). Our research found that despite a high level of EMR adoption, only a little more than 15% of large hospitals share data beyond their organization. This has been a huge detriment to efficient and productive health data utilization across all countries included in this study. However, with changing care paradigms, such as, focus on patient-centricity, innovation in care delivery models, and demand for workflow efficiency, improving health data continuity will be the key goal for both governments and providers over the next five years. As a result, interoperability, and standards development and adoption will be major priorities across health systems. Overall healthcare IT market in Germany will be driven by a need for higher patient-centricity and patient engagement. German consumers are actively involved in self-management of health and wellness, not to mention chronic disease management. People in Germany are health conscious and are willing to invest in Quantified Self solutions. This consumer maturity, combined with the increasing penetration of digital and communication technologies into people s everyday life, is driving them to demand a much greater level of healthcare knowledge and ability to action it themselves and at their convenience. As a result, over the next five years, while hospitals focus on improving the sophistication of the EMR systems, the health system as a whole will invest in patient engagement and patient experience solutions, improved data integration along the care continuum and investments in telehealth and telecare to support chronic disease management. Vendors will have to consistently demonstrate their core competence by offering hospitals sustainable business models, centred around improved connectivity, accessibility and interoperability of healthcare. Emerging technologies, such as cloud, healthcare business intelligence and data analytics, will be in demand. This is only a sample of insights that you can gain through our research. Key questions answered in this study include: What are the current trends, challenges and drivers for healthcare IT investment? What will be the most promising growth opportunities and key investment areas over the next five years? How is health IT adoption evolving? What will be the impact and adoption of new technologies? How will these change current industry paradigms and/or bring in new business models? How are the initiatives at national and regional level for eHealth adoption impacting the market? What are the current vendor landscape and tiers of competition in select segments (e.g., Total Health IT, EHR, PCIS)? How are they expected to evolve over the next five years? What do healthcare providers expect from vendors? What are the key vendor-/solution-selection criteria of providers while investing in health IT? Mon, 25 Sep 2017 00:00:00 +0100 Wearable Technologies and Healthcare: Differentiating the Toys and Tools for Quantified-Self with Actionable Health Use Cases http://www.frost.com/prod/servlet/sublib/display-market-insight.do?id=297865654 One of the most transformative shifts we are starting to see in healthcare is the rise of a concept called Quantified-Self . Digitization of products, services, and commerce models are democratizing current healthcare systems, manifesting a new era of healthcare consumerism. Mon, 18 Sep 2017 00:00:00 +0100 Top 5 Reasons Why Every Healthcare Company Should Invest in Blockchain http://www.frost.com/prod/servlet/sublib/display-market-insight.do?id=297840936 One of the monumental shifts we are experiencing in the healthcare industry is the digital decentralization of the care delivery models. Digitization of drugs (therapies), devices, services, and business models are democratizing current healthcare systems, unlocking new values by displacing high-cost gatekeepers and previously inaccessible segments. Tue, 5 Sep 2017 00:00:00 +0100