Top 12 Healthcare Data Analytics Companies & Solutions 2024

Healthcare data companies are in high demand like never before. To put an end to your search for reliable Healthcare Data Analytics Companies, give a quick read to this article:

Healthcare data analytics refers to the process of collecting healthcare data, and then analyzing it to bring out meaningful insights that can help in decision-making.

A healthcare provider can utilize historical medical data to observe the effects of a specific drug on a heart patient or access a patient’s complete medical history instantly for more personalized care.

Various health institutions have time and again stated that they have gained more efficiency in operations and enhanced patient satisfaction through data analytics and it helps them in decision-making.

Read through this tutorial explaining how data can help in decision-making and what to look for in a data analytics solutions.

Healthcare Analytics – Top Solutions

Benefits of a data analytics companies:

1. Health practitioners can study the effects of different drugs on patients, and plenty of other similar studies are made possible.
2. A patient’s complete medical history can be accessed in seconds, which helps healthcare providers in finding patients with greater health risks and delivering more personalized care.
3. It can be used for predicting the outcomes of a decision, thus helping to improve the healthcare system.

Who is this article for?

Any individual healthcare provider, health institution, researcher, health partner, or payer can benefit from this article.

In this article, we have compiled a list of the top most reliable healthcare analytics companies. You will also find detailed reviews about each one of them and a comparison of the top-rated.

Key considerations for selecting healthcare data analytics companies:

While choosing a healthcare data analytics solution, one must keep the following points in mind:

• The company needs to have a reputation for trustworthiness.
• Obtain personalized price quotes from various service providers that align with your unique business model and requirements.
• The solution must be easy to use, with a simple interface.
• Information security, privacy, and compliance management features must be examined properly.

Another study by Statista suggests that in Singapore, about 92% of the healthcare leaders are using or are preparing to use predictive analytics in their healthcare program, followed by China, where the rate is 79%, which is then followed by the USA and Brazil.

List of the Best Healthcare Data Analytics Companies

Some remarkable and impressive healthcare analytics solutions:

1. ScienceSoft
2. Arcadia
3. UnitedHealth Group
4. Epic Systems Corporation
5. Merative
6. McKesson Corporation
7. Health Catalyst
8. Microsoft Corporation
9. Change Healthcare
10. Oracle Health
11. SAS Viya
12. Inovalon
13. Vention

How do we choose the top healthcare data analytics companies?

We have picked the companies for our list after examining several aspects of each one of them, such as:

1. Customer reviews are a reliable indicator of reliability.
2. Range of services offered.
3. Ease of use that they offer.
4. Cost efficiency provided by them.
5. Popularity among healthcare providers.

Comparing the Top 5 Healthcare Analytics Companies and Solution

Detailed reviews:

#1) ScienceSoft

Best for Building efficient, scalable, and fully compliant healthcare analytics solutions with tailored functionality.

ScienceSoft delivers solutions for:

• PGHD analytics, continuous vitals monitoring, and alerts on abnormalities.
• Health outcomes analytics and forecasting (e.g., readmission rates, patient volume).
• Operational analytics, demand prediction for supplies and services, identification of process bottlenecks.
• Costs and finance analytics, predictive modeling, and payment fraud detection.
• Insurance claims analytics, identification of claim rejection patterns.
• Patient engagement analytics.
• Clinical decision support, advanced SaMD systems for intelligent diagnostic assistance, medical image analysis, and more.

ScienceSoft’s offering includes:

• Analytics software development, including fully custom and platform-based solutions (e.g., Microsoft Azure, AWS, Power BI, Oracle, Tableau).
• Healthcare analytics consulting, including DWH and ETL/ELT design, data strategy and data governance consulting, and software audit.
• Data visualization, building automated reports, and self-service dashboards.
• AI, machine learning, and big data implementation for healthcare.
• Ensuring compliance with HIPAA, HITECH, FDA, MDR, IVDR, GDPR, NCPDP, ONC, and SAMHSA requirements, IEC 62304:2006/Amd 1:2015 and ISO 13485 standards.
• Analytics software maintenance and evolution.

Why we like it: ScienceSoft has the skills, knowledge, and experience needed to deliver custom solutions that aren’t limited to off-the-shelf functionality and bring additional value with tailored capabilities. The vendor’s clients report impressive analytics outcomes, such as a 70% reduction in unnecessary surgeries, and its solutions are used by global market leaders such as GSK and AstraZeneca. Medical image recognition algorithms built by the company reach 95% accuracy.

Founded In: 1989
Headquarters: McKinney, Texas, USA
Office Locations: USA, UAE, Finland, Latvia, Lithuania, Poland, Saudi Arabia
Number of Employees: 750+
Estimated Annual Revenue: $32 million

Pricing:

• Average per-hour rate: $50–$99
• T&M for development
• Fixed price for consulting
• Visit their website to get a free tailored estimate.

#2) Arcadia

Best for being a powerful solution for transforming diverse data into useful analytics.

Arcadia is a reliable healthcare analytics solutions provider. It claims to maintain over 170 million clinical patient records. It is being used by some of the leading institutions to get data insights, deliver care, and create outstanding healthcare experiences.

Arcadia affirms that they deliver quality data that is accurate, timely, and well-managed. Healthcare providers and Healthcare payers trust this company for Care Management, Healthcare Analytics, Healthcare IT, Patient Engagement, Patient Retention, Medical Cost Containment, Population Health Management, and more use cases.

You can request a demo of Arcadia Analytics from their website.

Founded In: 2002
Headquarters: Burlington, MA
Number of Employees: 200+
Estimated Annual Revenue: $37.5 million

Features/Services Offered:

• Automation tools for care management include identifying critical patients based on their medical history, and more.
• Helps in streamlining health equity initiatives by providing population-level insights.
• Delivers readymade and customizable healthcare reports based on mass data.
• Tools for integrating, warehousing, and sharing data across departments.

Pros:

• A unified, advanced analytics platform.
• Scalable solutions.

Why we like it: Arcadia is trusted by some of the top health institutions, including Castell, Rush Health, Tandigm Health, and more. It is a highly customizable, scalable solution suitable for healthcare institutions with large, diverse data sets.

Price: Contact directly for prices.

#3) UnitedHealth Group

Best for delivering technical services for healthcare providers of all sizes.

UnitedHealth Group is one of the Fortune Global 500 companies and is one of the best Healthcare Data Analytics Companies today. They currently work with over 1.3 million physicians and care professionals and more than 6,700 hospitals and care facilities across the USA.

It works with the mission of helping people live healthier lives and improving the health system. UnitedHealth Group allows users to get health insurance, find doctors and consult them virtually, order health supplies online, and more.

All of this data is then collected and used to improve the healthcare system. They use predictive analytics to examine the determinants of health.

You will get to learn more about their services and efforts to maintain sustainability.

Founded In: 1999
Headquarters: Minnesota, USA
Number of Employees: 400,000+
Estimated Annual Revenue: Over $324 billion

Services Offered:

• Their applications allow patients to have a virtual meeting with a doctor.
• Offers multiple payment options.
• They provide medical data about a vast section of the population.
• People can look for various insurance options through them.

Pros:

• They adopt sustainable methods of operation.
• They try to make healthcare available, and more affordable to everyone.

Why we like it: UnitedHealth Group is a globally acclaimed and very prestigious healthcare technology services provider. The range of services that they are offering is commendable. They always strive to deliver quality, innovation, and satisfaction to their customers while working to maintain environmental and social sustainability simultaneously.

Price: Contact us directly for a price quote.

#4) Epic Systems Corporation

Best for helping medical practitioners deliver personalized care to patients, with the help of huge health data of the patients.

Epic Systems Corporation is a healthcare software company. It claims to have a digital record of over 305 million patients, which means that with Epic, one can get access to the medical records of 78% of the patients in the USA and around 3% of the patients in the whole world. This makes offering personalized care easier for healthcare providers.

It is used in Academic Medical Centres, Children’s Organisations, Community Hospitals, Dental Clinics, Independent Practises, Integrated Delivery Networks, Hospice, Multi-Specialty Groups, Rehab Centres, Retail Clinics, Specialty Diagnostics Labs, and more.

Founded In: 1979
Headquarters: Wisconsin, USA
Office Locations: USA, UK, Canada, Copenhagen, Den Bosch, Dhahran, Dubai, Helsinki, Ireland, Melbourne, Singapore, Switzerland, Trondheim
Number of Employees: 13,000+
Estimated Annual Revenue: $3.8 billion

Services Offered:

• Provides medical records of each patient, including insurance, medical reports, etc.
• Offers data analytics based on patients’ medical data.
• It offers a good deal of automation like appointment scheduling, data entry, etc., that make providing healthcare easy.
• Helps organizations stay compliant with the latest industry-specific regulations.

Pros:

• Highly customizable and scalable.
• User-friendly interface.
• Good customer support.
• Multi-factor authentication and other security features.

Why we like it: Epic Systems Corporation is trusted by some of the largest healthcare services providers in the world. The customizability and usability of the software is incredible. The healthcare staff may have to go through a learning session before using the software, but eventually, their workload gets a lot smoother with the use of the application.

Price: Contact us directly to get pricing information.

#5) Merative

Best for being a powerful, flexible, and scalable solution that delivers good value for money.

Merative, formerly known as IBM Watson Health, is a healthcare analytics solution that is built to help healthcare organizations in decision-making, thus improving their performance and health experiences.

The leading health organizations, almost 9 of the top 10 US hospitals, 40% of the Fortune 100 employers, 7 of the top 9 US Health plans, more than 35 federal and local government agencies, and all the top life sciences companies rely on Merative for advancing their healthcare system.

Merative provides the healthcare providers with their valuable data insights by working in the following steps:

1. They collect, clean, and organize all the data.
2. With the help of advanced analytics and AI, they generate actionable insights that can be used in decision-making.
3. They offer open-source capabilities to facilitate collaboration with stakeholders.

This way, the system benefits the members, patients, citizens, employees, and everyone else connected with healthcare.

Founded In: 1973
Headquarters: Michigan, USA
Number of Employees: 800
Estimated Annual Revenue: $168 million

Services Offered:

• They provide you with the insights of health data so that you can make better decisions.
• They offer a unified, cloud-based health data acquisition and management system.
• You can get access to full patient records and AI-based data insights quickly.
• Enterprise imaging solutions for Radiology, Cardiology, and other imaging needs.

Pros:

• Modern user interfaces.
• Supports on-premises, cloud, or hybrid deployment.
• Scalable.

Why we like it: Merative is an award-winning and highly popular company among health institutions. Customer reviews suggest that most of their clients are recommending their services to others.

Small businesses would find this solution to be a bit costly. I would suggest Merative for large-sized health institutions, as they would get good value for their money.

Price: Contact directly for prices.

#6) McKesson Corporation

Best for highly scalable drug delivery and analytics solutions.

McKesson is one of the biggest pharma data analytics companies in the United States of America. It is a well-established, highly popular, and reliable name in the healthcare industry. McKesson has been ranked as #9 of the Fortune 500 companies in 2023.

They offer healthcare supplies, equipment, pharmaceutical distribution, and healthcare technology solutions globally. Another plus point about the company is that it works to achieve its sustainability goals, with the purpose of impacting the people, their partners, the community, and the planet.

Founded In: 1833
Headquarters: Irving, Texas, USA
Office Locations: USA, Canada, UK, Australia, New Zealand, Germany
Number of Employees: 51,000+
Estimated Annual Revenue: $273.9 billion

Services Offered:

• Predictive analytics is done by examining historical data and targeting specific outcomes, for identifying patterns across the data points and devising strategies to reduce such occurrences in the future.
• They offer insights based on Utilization Analytics so that businesses can get more visibility into their performance and make better decisions.
• They offer pharmacy automation technology that can help healthcare providers cut costs, improve quality, and serve their patients in a better way.
• They offer branded, generic, specialty, biosimilar, and over-the-counter (OTC) pharmaceutical drugs, and other healthcare-related products distribution services in the USA.
• They provide over 285,000 national-brand medical-surgical products.

Pros:

• They have their own line of high-quality medical-surgical products and a distribution channel through which they supply vital medicines, supplies, and information technology solutions globally.
• An ISO-certified company

Why we like it: The customer reviews about McKesson suggest that their services and products are worth opting for. Businesses of large size would find McKesson to be quite suitable for them. They offer a wide range of features and services that can help in the advancement of the healthcare services of any institute.

Price: Contact us directly for the pricing information.

#7) Health Catalyst

Best for offering easy-to-use, self-service tools for delivering better healthcare through simplified data analytics.

Health Catalyst is a powerful healthcare analytics solutions provider. It has a comprehensive community health record and offers data insights to help in decision-making. They transform data into standard forms and offer reports with an easy-to-use user interface. These plus points compelled us to add Health Catalyst to our list.

Health Catalyst holds a number of certifications that validate the quality of services they offer, including Electronic Clinical Quality Measures (eCQM) certification, Data Aggregator Validation certificate, HEDIS Measures certificate, and more.

Services Offered:

• They offer actionable insights based on medical data so that healthcare providers can improve patient outcomes.
• They offer self-service data science and reporting services that are perfected for healthcare and help in decision-making.
• They offer a ‘Twistle’ app that helps automate patient engagement and improve patient satisfaction.
• Enhances patient safety by providing tools to identify trends and causes of harm and risk, establish improvement strategies, and prevent harm.

Why we like it: Some of the leading healthcare organizations, including Allina Health, Orlando Health, Mass General Brigham, and more are clients of Health Catalyst and have given awesome reviews of the services received.

They offer an easy-to-use UI so that healthcare providers don’t find it troublesome. The University of Kansas Health System used their services and claimed to have saved $4.7 million worth of costs. Another client named Billings Clinic claims to have achieved a 37.3% relative reduction in mortality and a 10.9% relative lower cost of care.

Price: Contact directly to get a price quote.

#8) Microsoft Corporation

Best for being a unified healthcare technology services provider.

Microsoft is a well-known and trusted name due to its wide range of quality services and products available at very reasonable prices. It is one of the best healthcare analytics companies in the world that provides its services to some of the top healthcare providers.

They help make healthcare operations more efficient through their tools for communication, healthcare data synchronization, deep data insights, data interoperability, security, privacy, and compliance management.

Services Offered:

• One place for communicating through secure messages, video, voice, photo annotation, and screen sharing.
• Allows data interoperability across multiple systems so that valuable data insights can be shared among providers, payors, life sciences companies, and government agencies.
• Health information security, privacy, and compliance management features.
• AI-based tools for predicting outcomes.
• They offer tools for delivering healthcare virtually.

Why we like it: Some of the most prestigious clients of Microsoft Corporation include Markham Stouffville Hospital, HUS (the largest healthcare provider in Finland), Steward Healthcare System, and more. Their ratings are outstanding.

It has time and again proved to be highly beneficial in improving healthcare, providing personalized care to patients, offering valuable data insights that are useful for decision-making, and much more.

Price: Contact us directly for pricing information.

#9) Change Healthcare

Best for being a unified company that offers innovative solutions for enhancing healthcare experience.

Change Healthcare, which is now part of Optum, is one of the best healthcare big data companies that offers services to healthcare providers, payers, partners, and patients.

Change Healthcare holds a number of certifications and accreditations including AICPA SOC, HITRUST certifications, PCI DSS compliance, EHNAC accreditation, and more, that speak about the reliability of the company.

Services Offered:

• Tools for connecting with healthcare systems, labs, pharmacies, radiology centers, EHRs, and payers.
• They offer help in clinical decision-making based on evidence.
• Tools for establishing seamless communication across teams inside and outside the hospital.
• End-to-end workflow, image management, viewing, and analytics solutions.

Why we like it: It claims that about $15 billion worth of transactions are being completed with Change Healthcare and every 1 out of 3 patient records is touched by their clinical connectivity solutions.

They have partnered with companies like Adobe, Microsoft, Amazon Web Services, Hyperledger, Tibco, and Experian to help healthcare providers deliver an improved patient journey.

Price: Contact us directly to get the pricing information.

#10) Oracle Health

Best for low-cost, yet highly beneficial healthcare analytics solutions.

Oracle is a widely popular name and one of the top healthcare analytics companies in the US. They have a team of over 100 members for conducting high-volume medical trials and outcomes research. They provide healthcare providers with one of the largest medical data sets in the world.

They even help with life sciences innovation and research, done with the help of the unified data from clinical trials.

The company has helped its clients in improving the employee experience, overcoming rising costs, promoting equity in healthcare, and much more, thus having a good client retention rate.

Services Offered:

• They offer tools for integrating data across healthcare systems to provide actionable insights.
• They offer advanced reporting and analytics tools.
• Data security services include encryption, access controls, and more.
• Tools for digitally interacting with patients.

Why we like it: Oracle Health is one of the top healthcare analytics companies in the USA. It has more than 430K customers from all across the globe, including Siemens Healthineers, Integra, Northwell Health, Adventist Health, The University of Tennessee Medical Centre, and more.

Price: Contact us directly to get the pricing information.

#11) SAS Viya

Best for being a powerful, scalable solution that delivers actionable insights from data quickly.

SAS Viya offers a cloud-based AI and analytics platform that helps in analyzing your data, predicting outcomes, and making quick improvements to the healthcare system. Their clients have saved significant operating costs with them.

With SAS Viya, you get an intuitive interface to transform data into actionable insights and thus make better business decisions. They offer a 14-day free trial that allows you to test the capabilities of the services.

Price: Contact us directly to get a price quote.

#12) Inovalon

Best for being a dedicated data-driven healthcare solutions provider.

Inovalon is a popular and one of the top healthcare analytics companies. They work by combining huge chunks of primary source healthcare datasets with advanced analytics, to improve decision-making and health outcomes.

Inovalon can benefit Healthcare Payers, Providers, Pharmacies, and Life Sciences. 17 of the top 25 global pharmaceutical companies, all top 25 U.S. healthcare provider systems, and 7 of the top 10 U.S. specialty pharmacy companies benefit from the cloud-based solutions offered by Inovalon.

Price: Contact us directly for the pricing information.

#13) Vention

Best for: Developing scalable, high-performing solutions boasting instant insights, predictive analytics, seamless integration capabilities, strict data security, and intuitive interfaces.

Vention delivers solutions for:

• Real-time patient monitoring systems.
• Predictive care management platforms for forecasting patient care needs and optimizing outcomes.
• Healthcare IT Integration for a unified patient view.
• ML-based tools to enhance diagnostic precision and personalize treatments.
• Operational efficiency tools that streamline operations, manage resources, and cut costs.
• Data visualization dashboards for disease surveillance and public health management.
• Insurance claims analytics, claim rejection pattern identification, and payment fraud detection.

Vention’s offering includes:

• End-to-end analytics solution development.
• Advanced healthcare analytics platforms featuring customizable dashboards and reporting tools.
• Predictive modeling to anticipate health trends and outcomes, optimizing care and resource allocation.
• Seamless integration capabilities for cohesive data exchange between EHRs, LIS, and other healthcare systems.
• Implementation of AL and ML to refine diagnostics, tailor treatments, and enhance clinical efficiency.
• Strict adherence to regulations, including HIPAA, GDPR, and HITECH, through comprehensive data governance and compliance solutions.
• Data visualization services for healthcare data. 
• Maintenance and refinement of healthcare analytics software.

Why we like it: Vention’s outstanding expertise, proficiency, and depth of experience shine in developing healthcare solutions that not only meet crucial regulatory standards, but also cater to specific institutional needs.

They’ve notably enabled organizations like Yale School of Medicine to revolutionize internal data management and crafted pivotal solutions in the fight against COVID-19. This blend of regulatory compliance and innovative customization sets Vention apart in the healthcare technology field.

Founded In: 2002
Headquarters: New York, NY, USA
Office Locations: US, UK, Germany, Austria, Lithuania, Poland, Mexico, and other major IT hubs
Number of Employees: 3,000+
Estimated Annual Revenue: $100 million

Pricing: Pricing is available upon request. Each quote is carefully adjusted to address your requests and needs in the most cost-effective manner.

Healthcare Analytics Companies – FAQs

Conclusion

Our research of the top healthcare analytics services suggests that ScienceSoft, Arcadia, UnitedHealth Group, Epic Systems Corporation, Merative, McKesson Corporation, Health Catalyst, Microsoft Corporation, Change Healthcare, Oracle Health, SAS Viya, and Inovalon are the top data analytics healthcare companies today.

Their services have helped several healthcare providers, payers, partners, and researchers to get a clear picture of the medical scenario. They provide clinical data and analytics solutions so that healthcare providers can determine the causes of certain problems and take appropriate steps to avoid those problems in the future.

But the problem is, that the data must be reliable & managed properly and the software must be able to provide accurate, authentic results. Therefore, one must do proper research about the reviews of healthcare data analytics companies before using them for the organization.

Research Process:

• Time Taken to Research this Article: We spent 32 hours researching and writing this article so you can get a useful summarized list of tools with a comparison of the top 5 of them for your quick review.
• Total Tools Researched Online: 38
• Top Tools Shortlisted for Review: 12