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Midmarket uses business intelligence to tame healthcare costs

internet evolution, July 27, 2010

The complex requirements from US healthcare reform are creating two types of midmarket companies: Those that see the new law as a tremendous opportunity, and those that will wait until reform becomes clearer to adjust how they will operate. Both types of enterprises are looking for existing software systems to help them make sense of the transition to electronic health records, as well as last year's $20 billion-plus HITECH Act. Add to this the new layers of information flowing in and out of the Center for Medicare and Medicaid Innovation, according to CTO of Health and Human Services Todd Park. But when it comes to running mid-tier healthcare enterprises and hospitals, that flow of information needs to be balanced with cost savings while optimizing and automating processes. There is no market-wide panacea, but adding business intelligence  to the mix might just save a few midmarket companies from flatlining, according to a recent industry report from Aberdeen Group Inc. Research from May 2010 found 80 percent of those surveyed were using some type of BI in their enterprises, and strongly recommended using business intelligence to drive bigger margins, increased productivity, and cost reductions.