IDC Health Insights Evaluates Payer Analytics Vendors in New IDC MarketScape

IDC Health Insights today announced a new IDC MarketScape report that enables payer executives to understand the specialized field of healthcare-specific payer data analytics solutions. Executives will have a definition of this solution category, its key strategy and capability requirements, and an evaluation of vendors actively participating in this market. The new study, IDC MarketScape: U.S. Payer Data Analytics 2015 Vendor Assessment (Doc #HI255269) evaluates what each of the surveyed vendors are targeting in terms of the types of clinical and financial analytics functions addressed, supported databases, and business areas of specialization. Vendors evaluated in this report include: McKesson, MedeAnalytics, Milliman, Optum, QualMetrix, SCIO Health Analytics, Truven Health Analytics, and Verisk Health.

“While this is a developing product niche, payers will have a growing requirement for analytical tools to address the increasing volume, variety, and velocity of data and related vendor services to help manage the complexity of this environment. Payer challenges will include incompatible data types (structured versus unstructured), data quality and management, interoperability standards, governance strategies, and information that enables decision makers to drill down to specific drivers of cost and clinical risk,” said Deanne Primozic Kasim, Research Director, Healthcare Payer IT Strategies at IDC Health Insights.

A new health insurance business model is evolving in a post-health reform environment and payers have a significant and growing need for analytical tools that help executives and business line managers understand financial, operational, and clinical care performances. To succeed in a post reform environment, payers need to change their business models, including the payment and delivery of care and wellness services. New business models demand an ability to secure and assess operational, financial, and clinical data to address areas including quality and disease management, financial and business line performance, and the creation of new wellness programs and incentives.

This IDC MarketScape for payer data analytics vendors focuses on eight companies in which all or most of their lines of business are focused on the healthcare industry. All of these companies provide payer-specific analytics solutions and services in the U.S. market.

IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants and end users. Market weightings are based on user interviews, buyer surveys, and the input of a review board of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions within the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information, and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor’s characteristics, behavior and capability.

About IDC MarketScape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT, telecommunications, or industry-specific vendors can be meaningfully compared. The framework also provides technology buyers with a transparent foundation to allow companies to independently compare the strengths and weaknesses of current and prospective vendors.

About IDC Health Insights

IDC Health Insights assists health businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the payer, provider and life sciences industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-hi.com, email info@idc-hi.com, or call 508-935-4445. Visit the IDC Health Insights Community at https://idc-community.com/health.

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