Frost Radar™: US Healthcare Data Interoperability Market, 2020
Published on: 20-Jul-2020 | SKU: HC03319-NA-MR_24595

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Interoperability has become a critical consideration for all health IT (HIT) applications. All the major healthcare stakeholders across the world acknowledge the need to invest in digital infrastructure capabilities to facilitate cross-continuum patient information exchanges and support evidence-based care, at scale. Regulatory agencies are embracing forward-thinking policies that advocate the need for all the leading vendors to become fully interoperable with each other. The objective is to drive a progressive digital healthcare model, that is, a standardized, collaborative, and multidisciplinary yet modular approach that is based on an application programming interface (API). Many leading HIT vendors and hospitals in the United States are not likely to comply with CMS’ 21st Century Cures Act, although it makes provisions for the secure transfer of patient data across the care continuum (due to threats such as breach of patient privacy) and the overwhelming cost of commitment; provisions also exist to cover any significant penalties involved. Owing to COVID-19, most health systems’ essential services (both, manually driven and digitally enabled) are focused on tackling the unprecedented surge in patient footprint across primary, in-patient, and long-term care systems. Therefore, ONC in collaboration with CMS and HHS OIG has extended the timeline for the implementation of Interoperability Final Rules to 3 months post completion of the ONC Health IT Certification Program for specific value-based care tracks. Allscripts, IBM, Change Healthcare, and InterSystems are the leading US healthcare data interoperability market participants marked on the Frost Radar™. Optum is the fastest-growing company, and IBM is the most innovative.

Author: Koustav Chatterjee

Strategic Imperative

Strategic Imperative (continued)

Growth Environment

Growth Environment (continued)

Frost Radar™: Healthcare Data Interoperability Market 2020

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

Allscripts Healthcare, LLC

Cerner Corporation

Change Healthcare

Enli Health Intelligence

Epic Systems Corporation

IBM

InterSystems Corporation

Lumeon

Optum, Inc.

Progress Software Corporation

Validic

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

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Interoperability has become a critical consideration for all health IT (HIT) applications. All the major healthcare stakeholders across the world acknowledge the need to invest in digital infrastructure capabilities to facilitate cross-continuum patient information exchanges and support evidence-based care, at scale. Regulatory agencies are embracing forward-thinking policies that advocate the need for all the leading vendors to become fully interoperable with each other. The objective is to drive a progressive digital healthcare model, that is, a standardized, collaborative, and multidisciplinary yet modular approach that is based on an application programming interface (API). Many leading HIT vendors and hospitals in the United States are not likely to comply with CMS’ 21st Century Cures Act, although it makes provisions for the secure transfer of patient data across the care continuum (due to threats such as breach of patient privacy) and the overwhelming cost of commitment; provisions also exist to cover any significant penalties involved. Owing to COVID-19, most health systems’ essential services (both, manually driven and digitally enabled) are focused on tackling the unprecedented surge in patient footprint across primary, in-patient, and long-term care systems. Therefore, ONC in collaboration with CMS and HHS OIG has extended the timeline for the implementation of Interoperability Final Rules to 3 months post completion of the ONC Health IT Certification Program for specific value-based care tracks. Allscripts, IBM, Change Healthcare, and InterSystems are the leading US healthcare data interoperability market participants marked on the Frost Radar™. Optum is the fastest-growing company, and IBM is the most innovative. Author: Koustav Chatterjee
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Koustav Chatterjee
Industries Healthcare
WIP Number K50C-01-00-00-00
Is Prebook No
GPS Codes 9564-B1,9600-B1,9612-B1

Frost Radar™: US Healthcare Data Interoperability Market, 2020

HealthcareFrost Radar™: US Healthcare Data Interoperability Market, 2020

Benchmarking Future Growth Potential

RELEASE DATE
20-Jul-2020
REGION
North America
Deliverable Type
Frost Radar
Research Code: K50C-01-00-00-00
SKU: HC03319-NA-MR_24595
AvailableYesPDF Download
$4,950.00
In stock
SKU
HC03319-NA-MR_24595