The cost-efficient delivery of quality medical services is a top priority for governments worldwide, and this task is becoming exceptionally difficult amid the steady increase in aging populations and the need to manage overwhelming amounts of data as healthcare providers undergo a digital transformation. “The 21st century is one of information overload, but this presents a massive opportunity for all industries as long as they are willing to embrace solutions that turn Big Data into their ally,” comments Trevor Silver, founder and CEO of leading analytics, data engineering, and cloud computing solutions provider Exusia.
In recent years, industry experts and business executives have started talking about Healthcare 2.0, using the term to describe an ecosystem where digital products and services have become critical for achieving quality improvements and savings. In the new age of healthcare provision, analytics tools have become a pivotal part of this ecosystem, with investment in such solutions growing at a robust pace, Trevor Silver notes. According to research group MarketsandMarkets, global spending on healthcare analytics will grow at a compound annual rate of 28.3% between 2019 and 2024, rising from $14 billion to $50.5 billion over the specified period. “Factors such as government initiatives to increase EHR [electronic health record] adoption, growing venture capital investments, growing pressure to curb healthcare spending and improve patient outcomes, the emergence of Big Data in healthcare, and the rising importance of real-world evidence are expected to drive the growth of the market,” the company says in its report. Acumen Research and Consulting is similarly optimistic about the outlook for healthcare analytics investment, projecting that it will expand at a compound annual rate of about 23.4% from 2019 to 2026 to reach $52.2 billion.
Recognizing the need for robust predictive models and cutting-edge analytics solutions, Exusia expanded its capabilities in 2015 to serve the healthcare, pharmaceuticals, and life sciences sectors. Speaking to Insights Success, Trevor Silver said, “The biggest common challenge we see amongst healthcare companies is getting the right access to the right data to the right people in large, complicated healthcare information systems.” He went on to note, “Prediction is critical to prevention in healthcare, and developing sophisticated data-driven models to identify individuals with elevated or increasing risks of developing chronic conditions provides care providers with the best opportunity to help patients and prevents longer-term health problems that are costly to insurance organizations and difficult to treat for providers.”
Trevor Silver has come to be regarded as a leading figure in the analytics and data engineering industry, as well as an insightful investor and entrepreneur. Over the course of 20 years, he has amassed outstanding credentials in the fields of enterprise data strategy, architecture, delivery execution, and managed services, offering agile technology solutions and operational guidance to companies across the healthcare, financial services, telecommunications, hospitality, entertainment, energy, and consumer products industries. As founder and CEO of Exusia, Trevor Silver has built the Miami, Florida-based enterprise into a leading provider of analytics, data engineering, and cloud computing solutions to organizations around the world. Since its inception in 2012, the company has expanded its employee base to more than 500, while its exceptional growth rate and client success score have been recognized by numerous publications, including Inc., Crain’s, CIO Review, CIOLook, Industry Era, CIO Bulletin, and Insights Success.