Healthcare Frost Radar™: Artificial Intelligence for Healthcare IT, Global, 2020

Benchmarking Future Growth Potential

INDUSTRY
Healthcare

RELEASE DATE
02-Jun-2020
REGION
Global
DELIVERABLE TYPE
Frost Radar

RESEARCH CODE
K4D8-01-00-00-00
SKU
HC03299-GL-MR_24433
Yes
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Frost Radar™: Artificial Intelligence for Healthcare IT, Global, 2020
Published on: 02-Jun-2020 | SKU: HC03299-GL-MR_24433

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Frost & Sullivan research has identified the core areas in which artificial intelligence (AI)-enabled healtchcare IT solutions are most relevant for hospitals, physicians, and payers.

Hospitals that have so far invested in AI-based financial solutions to automate patient access management, reimbursement eligibility matching, and computer-assisted coding are now also preferring clinical-grade AI solutions for imaging analytics, genomics profiling, clinical risk stratification, and precision medicine-based diagnosis.

Physician practices continue to focus on automated, AI-based healthcare IT solutions that perform practice management, physician scheduling, and workforce attribution. Large group practices are investing in conversational AI solutions that engage and activate patients via chatbot. AI also allows practice management software to merge with a third-party electronic medical record (EMR) or population health management platform for effective referral management and patient tracking in their journey across the care continuum.

The payer market, one of the biggest investors in AI-based healthcare IT solutions, is betting big on enterprise-grade AI platforms that predict epidemics (such as COVID-19), forecast patient volume across their member providers, authenticate reimbursement, and drive general well-being of the insured population through medication management and self-care enablement.

Other stakeholders are emerging, too. Government agencies, patients, incubators, academic medical centers, large healthcare IT vendors, and institutional investors are playing important roles in helping this technology gain traction in global healthcare market.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Koustav Chatterjee

Strategic Imperative

Strategic Imperative (continued)

Growth Environment

Frost Radar™

Frost Radar™

Frost Radar™

Frost Radar™

Allscripts

Amazon Web Services

Apple

Change Healthcare

GE Healthcare

Google

Health Catalyst

HP Systems

IBM Watson Health

Inovalon

Intel

Medial Early Sign

Microsoft

Nuance

Optum

Philips Healthcare

Qure.ai

Salesforce

SigTuple

Wolters Kluwer

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.

Have questions about this research or need deeper insights?
Speak directly with our analytics experts for tailored recommendations.

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Impacting your company's future growth potential.

Frost & Sullivan research has identified the core areas in which artificial intelligence (AI)-enabled healtchcare IT solutions are most relevant for hospitals, physicians, and payers. Hospitals that have so far invested in AI-based financial solutions to automate patient access management, reimbursement eligibility matching, and computer-assisted coding are now also preferring clinical-grade AI solutions for imaging analytics, genomics profiling, clinical risk stratification, and precision medicine-based diagnosis. Physician practices continue to focus on automated, AI-based healthcare IT solutions that perform practice management, physician scheduling, and workforce attribution. Large group practices are investing in conversational AI solutions that engage and activate patients via chatbot. AI also allows practice management software to merge with a third-party electronic medical record (EMR) or population health management platform for effective referral management and patient tracking in their journey across the care continuum. The payer market, one of the biggest investors in AI-based healthcare IT solutions, is betting big on enterprise-grade AI platforms that predict epidemics (such as COVID-19), forecast patient volume across their member providers, authenticate reimbursement, and drive general well-being of the insured population through medication management and self-care enablement. Other stakeholders are emerging, too. Government agencies, patients, incubators, academic medical centers, large healthcare IT vendors, and institutional investors are playing important roles in helping this technology gain traction in global healthcare market. The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Koustav Chatterjee
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Koustav Chatterjee
Industries Healthcare
WIP Number K4D8-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9612-B1

Frost Radar™: Artificial Intelligence for Healthcare IT, Global, 2020

$4,950.00

Special Price $3,712.50 save 25 %

In stock
SKU
HC03299-GL-MR_24433