CIOs Plan to Invest More in AI, Predictive Analytics, Big Data Tools Posted on : Feb 23 - 2018

CIOs plan to spend more on predictive analytics in 2018 and recognize the need to invest in artificial intelligence and big data analytics tools to maximize their results.

Healthcare IT leaders are investing more time and money in predictive analytics tools because of their potential to improve population health and reduce care costs, but they will also have to invest in artificial intelligence and big data analytics solutions to generate truly accurate clinical predictions.

As the industry shifts to value-based care and organizations seek to extract more value from their data, it’s no wonder that health IT leaders are choosing to focus on predictive analytics in the coming year.

A cross-industry poll from the International Data Group (IDG) found that 47 percent of CIOs plan to increase their spending on predictive analytics in the next few months.

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• In addition, 37 percent of CIOs said they are actively researching predictive analytics or have it on their radar.
• Thirteen percent said predictive analytics are the most important tool they’re working on right now.

Providers have long believed that predictive analytics are critical for successfully managing the changing healthcare landscape. In a 2017 Society of Actuaries (SOA) survey, 93 percent of respondents said that healthcare organizations will not be able to navigate future financial and clinical challenges if they do not invest in predictive analytics tools.

Past research has shown the potential for predictive analytics tools to reduce hospital readmissions, identify patients at high risk for developing sepsis, and recognize patients who are more likely to experience harmful falls, all of which can improve patient outcomes and cut unnecessary healthcare spending.

Health IT leaders also recognize that building predictive analytics capabilities requires investments in IoT, machine learning, and AI tools that can generate and filter patient data to assist in clinical decision making. View More