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Healthcare Analytics Market is Expected to Reach $85.9 billion | MarketsandMarkets.

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Chicago, March 27, 2023 (GLOBE NEWSWIRE) — The healthcare analytics industry is expected to experience rapid growth in the near future as the industry continues to embrace technological advancements. A major factor driving this growth is the increasing availability and affordability of data sources and analytics tools. This has enabled healthcare organizations to more effectively collect, analyze, and utilize data to improve patient care, reduce costs, and improve operational efficiency. Additionally, the application of artificial intelligence (AI) and machine learning (ML) technologies is expected to further accelerate the growth of this sector as these technologies enable healthcare organizations to gain insights from large volumes of patient data. The growth of this industry will also be driven by government mandates to implement healthcare analytics solutions and the rising demand for personalized healthcare services.

Healthcare Analytics market in terms of revenue was estimated to be worth $27.4 billion in 2022 and is poised to reach $85.9 billion by 2027, growing at a CAGR of 25.7% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. Healthcare analytics is the efficient use of data and related business insights developed through statistical, quantitative, predictive, comparative, cognitive, and other developing applied analytical models. Healthcare analytics tools help discover and recognize historical information patterns, predict future outcomes, and provide actionable insights to drive fact-based decision-making for enhanced financial, clinical, and operational performance of healthcare organizations.

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Healthcare Analytics Market Scope:

Report Coverage Details
Market Revenue in 2022 $27.4 billion
Estimated Value by 2027 $85.9 billion
Growth Rate Poised to grow at a CAGR of 25.7%
Market Size Available for 2020–2027
Forecast Period 2022–2027
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, By Application, By Component, By Deployment Model, By End User, & By Region
Geographies Covered North America, Europe, Asia, Pacific countries, Latin America and the Middle East and Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Use of analytics in precision and personalized medicines
Key Market Drivers Increasing adoption of EHR in developing and developed countries

The healthcare analytics market is mainly driven by factors such as increasing focus on real-world evidence, rising prevalence of chronic diseases and growing pressure to curb healthcare spending and improve patient outcomes. However, high cost of healthcare analytics solutions and increasing data security concerns are likely to restrain growth of this market.

Based on type, the healthcare analytics market is bifurcated into descriptive, predictive, prescriptive, and cognitive analytics. In 2021, the descriptive analytics segment accounted for the largest share of the healthcare analytics market, while the prescriptive analytics segment is projected to grow at the highest CAGR during the forest period. The large share of this segment is primarily attributed because descriptive analytics forms the base for the effective application of predictive or prescriptive analytics.

Based on application, the healthcare analytics market is bifurcated into financial analytics, clinical analytics, operational & administrative analytics, and population health analytics. In 2021, the financial analytics segment accounted for the largest share of the healthcare analytics market. Factors such as increasing adoption of electronic healthcare records, the need to improve patient outcomes and reduce hospital readmission rates are driving the market growth.

Based on deployment mode, the healthcare analytics market is bifurcated into on-premises and on-demand. In 2021, the on-premise healthcare analytics segment accounted for the largest share of the healthcare analytics market. The large share of this segment is primarily attributed because on-premise deployment permits end users to use solutions from multiple vendors, which allows customizations as per end-user needs.

Based on component, the healthcare analytics market is bifurcated into services, software, and hardware. In 2021, the services segment accounted for the largest market share of the healthcare analytics market. This is attributed to their indispensable nature and recurring requirement. This is because end users of healthcare analytics depend on service providers for consulting, data storage, implementing services, training, maintenance, and regular solution upgrades.

Based on end users, the healthcare analytics market is bifurcated into providers (hospitals, physician practices, IDN, post-acute care organisations and, ambulatory settings), payers (private insurance companies, government agencies, and employers & private exchangers), and ASCOs, HIEs, & TPAs. In 2021, the payers segment accounted for the largest market share of the healthcare analytics market. This is attributed use of healthcare analytics by payer organisations for claim management, risk assessment and financial management.

The healthcare analytics market is bifurcated into six regions namely, North America, Europe, Asia, Pacific countries, Latin America, and the Middle East and Africa. In 2021, North America held the largest share of the market, also expected to grow at the highest CAGR. Factors such as growing federal healthcare mandates to curb rising healthcare costs, increasing regulatory requirements, and many major global players are also based in the US, owing to which the country has become a centre of innovation in the healthcare analytics market are driving the market growth in this region.

Key Market Players:
Prominent players in this market include IBM (US), SAS Institute Inc. (US), Optum, Inc. (US), Cerner Corporation (US), Allscripts Healthcare, LLC (US), Cotiviti, Inc. (US), CitiusTech Inc (US), Health Catalyst (US), CVS Health (US), Inovalon (US), McKesson Corporation (US), MedeAnalytics, Inc. (US), Oracle (US), ExlService Holdings, Inc. (US), Gainwell (US), Wipro (US), Flatiron (US), Apixio (US), Enlitic, Inc. (US), Komodo Health, Inc. (US), HealthEC, LLC,  Sema4 OpCo, Inc. (US), Evidation Health, Inc. (US), Insilico Medicine (US), Exscientia (UK), Aetion, Inc.(US), and Premier (US).

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Hypothetic Challenges of Healthcare Analytics Market in Near Future:

  • Increasing data complexity: The healthcare industry is becoming increasingly complex and data-driven, making it difficult to accurately analyze and interpret data to make effective decisions.
  • Regulatory compliance: Healthcare analytics must comply with a variety of government and industry regulations, making it difficult for companies to leverage data in a responsible manner.
  • Privacy and security concerns: Patient data must be protected and access to healthcare analytics must be restricted.
  • Limited access to data: Even with advances in technology, healthcare providers must still acquire and manage data from multiple sources.
  • Access to resources: Healthcare analytics requires a significant amount of resources and expertise to implement, making it difficult for smaller organizations to take advantage of.
  • Interoperability issues: Healthcare data is often siloed, making it difficult to access and aggregate data from different sources.
  • Cost: Healthcare analytics require a significant investment in infrastructure and resources, making it difficult for some organizations to afford.

Top 3 Use Cases of Healthcare Analytics Market:

  • Clinical Decision Support: Healthcare analytics can be used to provide evidence-based insights to physicians and other healthcare professionals to help them make data-driven decisions about patient care. This includes identifying the most suitable treatments for a particular patient, predicting the risk of readmission, and analyzing treatment efficacy.
  • Population Health Management: Healthcare analytics can be used to monitor the health of a population and identify trends in healthcare utilization, disease prevalence, and outcomes. This enables healthcare providers to tailor approaches to population health management and develop proactive strategies to improve healthcare outcomes.
  • Value-Based Care: Healthcare analytics can be used to measure and analyze outcomes of care and identify areas of improvement. This allows providers to compare the cost and quality of care across different populations and identify opportunities for cost savings and performance improvement. This enables providers to move towards a value-based care model that focuses on outcomes rather than fee-for-service.

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Recent Developments:

  • In October 2022, Optum (US) acquired Change Healthcare (US). This acquisition will connect and simplify the core clinical; administrative and payment processes health care providers and payers depend on to serve patients.
  • In October 2022, Oracle (US) entered into an agreement with WellSpan Health (US) to enhance operational insights, reduce costs, improve the team member experience, and support its future expansion
  • In July 2022, Francisco Partners (US) completed the acquisition of healthcare data and analytics assets that were part of IBM’s Watson Health business. The assets acquired by Francisco Partners consist of extensive and diverse data sets and products, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software offerings.
  • In June 2021, Flatiron (US) Partnered with Foundation Medicine, Inc. to integrate its solutions with OncoEMR to offer integrated genomic profiling to customers.
  • In July 2021, Enlitic (US) partnered with NMC Healthcare (UAE). This is a multi-faceted partnership with private healthcare companies to incorporate Enlitic’s solutions in GCC countries.

Related Reports:

Healthcare Analytical Testing Services Market

Healthcare IT Market

Population Health Management Market

Healthcare Fraud Analytics Market

Revenue Cycle Management Market


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Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region

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LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.

Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
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Appdome Sweeps Cybersecurity Excellence Awards

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Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.

“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense:  The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance:  Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met.   Mobile Application Security:  With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website  https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation

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Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers          Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation          32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.

Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:           
59% have seen whistleblowers subsequently left out of important decisions           33% have seen whistleblowers moved to a different team           32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”  
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong.  It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it.  It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact: 
Fight or Flight for [email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
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