New York, June 10, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Explosion of Data Drives the US Social Determinants of Health Market” – https://www.reportlinker.com/p06090608/?utm_source = GNW
In fact, many non-medical SODH are important factors in a patient’s care path. As the world emerges from the global COVID-19 pandemic, there has been renewed interest in using SDOH as a component of a patient’s medical history.
SDOH can play an important role in improving the health of millions of people. Patients can benefit from knowing how lifestyle factors affect their quality of life for many years to come. Despite long-term awareness of SDOH, the concept is in an early stage of large-scale deployment. Analyst estimates that by the end of 2020, 40% of U.S. healthcare systems and commercial payers will have used data on social determinants of some type in risk assessments, patient education and decisions commercial. Among the companies targeting SDOH are start-ups looking to focus directly on SDOH services and software, and larger, established entities that are excited about the potential benefits of SDOH. Large companies are designing new programs or looking to acquire smaller companies to launch their SDOH solutions. Considering the similarity with using data for population health management (PHM), data analytics and MPS companies are also keenly interested in the SDOH space. The common factor across the market is the need for robust data that can be used in developing new analytical models. SDOHs are truly data driven and will create a new big data opportunity in healthcare. There are many challenges that will need to be overcome for SDOH to realize its enormous potential. For example, some providers are concerned that SDOH may result in new and higher healthcare costs due to the complexity of adding new data to clinical protocols. Specifically, there are concerns that the SDOH implementation model is complex and difficult to standardize, and that the torrent of data threatens privacy and security. Also of concern is the fact that the vision for using SDOH is not systematically defined by regulators, industry advocates and companies that come up with relevant solutions. The study includes an overview of four notable companies in the SDOH space and reviews the types of products and services that make up SDOH solutions. A major service offered by pure SDOH companies is the ability to generate referrals that can lead patients and providers to a solution capable of transforming an SDOH problem into a healthier and more productive life.
Author: Victor Camlek
Read the full report: https://www.reportlinker.com/p06090608/?utm_source=GNW
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