Analytics in healthcare: a hot topic that is frequently discussed among leading healthcare leaders.
Any healthcare professional knows that there is a ton of data used in the industry.
Using this data to create meaningful analytics can improve patient care and support a variety of healthcare functions.
“Enterprises that are able to collect and analyze data, and effectively implement insights, can create the types of experiences that improve patient engagement, lead to patient retention and proactive care, and lower providers’ overhead costs.” Data-informed reports.
Let’s dive into a few big data trends that are improving healthcare.
Genomic analytics measures and identifies genomic features.
These features can include DNA sequences, structural variation, and gene expression.
All three of these factors is important for researchers when understanding how genetics affects the future of healthcare.
This is where personalized medicine comes into play.
“Indeed, this is the main goal of using big data and genetics — creating personalized medicine. By studying the data from a human genome, scientists can create more effective and appropriate treatments for patients.” dataversity reports.
Using patient’s genetic information, hidden patterns unknown correlations and other insights can be revealed.
This puts providers in a position to deliver unique, patient-centered care.
Predictive analytics is the act of finding patterns in data to make predictions about the future.
These predictions offer hints about risk and opportunities for the future.
“Predictive modeling and machine learning on large sample sizes, with more patient data, can uncover nuances and patterns that couldn’t be previously uncovered” Mapr reports.
The market for predictive analysis is expected to grow due to the growing need for patient outcomes.
“In recent years, there is a surging interest among payer organizations and several healthcare institutions in using predictive tools for mediating hospital readmissions.”
Predictive analytics helps providers detect diseases early on.
When a disease is detected early on, a cost ultimately goes down because it can be treated right away.
Thus, creating an outcome that benefits both the provider and patient.
This is a win, win for hospitals and patients, driving predictive analytics to make a huge impact on the healthcare industry.
Public Health Increases
Big data has given physicians the ability to target specific individuals driven by accurate information.
Turning big data into effective information can be used to:
- Identify needs
- Provide services
- Predict and prevent crises
“Potential benefits include detecting diseases at earlier stages when they can be treated more easily and effectively; managing specific individual and population health and detecting health care fraud more quickly and efficiently.” biomedcentral reports.
By leveraging technology used in big data analytics, providers are able to connect to patients in an innovative, effective way.
With predictive analytics, providers can also profile patients in order to gauge what care is necessary.
“…applying advanced analytics to patient profiles to proactively identify individuals who would benefit from preventative care or lifestyle changes; broad scale disease profiling to identify predictive events and support prevention initiatives…
thus assisting patients in determining the care protocols or regimens that offer the best value…” Biomedcentral continued.
Challenges of Big Data in Healthcare
Big data can be complex and can require providers to pay attention to detail, in order to make sure the information is accurate and efficient.
Providers can face some challenges along the rocky road of data collecting.
Here are a few.
Quality of Data
When data is being captured, it is crucial for it to come across as clean and accurate.
Unfortunately, during the capturing process, that does not always happen.
This is because data is mostly entered by humans, who are prone to human error.
“Current reimbursement policies require extensive documentation and clinicians often respond by using templates that automatically populate large quantities of data or by using copy-paste features that propagate mistakes or outdated information.” AJMC reports.
In order to fix this, providers can partake in clinical documentation improvement programs in order to ensure that data is being entered effectively.
Incomplete data is also an issue that providers encounter, affecting the way data collection is conducted.
Healthcare has a vast amount of data available for providers to access to create benefits for patients.
Storing this data can be costly and a challenge to manage.
In order to fight this challenge, healthcare professionals have integrated cloud storage which provides a lower cost for providers.
With big data, comes security concerns.
It is crucial for providers to always have data secured and protected from any type of breach or security threat.
“From phishing attacks to malware to laptops accidentally left in a cab, healthcare data is subject to a nearly infinite array of vulnerabilities.”
All in all, big data is a driving force in the health care industry, enabling providers to use a vast amount of tools that benefit patients, contributing to the future of digital health.
HEALTHCARE PROVIDERS TRANSFORMATION ASSEMBLY
The Millennium Alliance is pleased to announce that applications for our bi-annual Healthcare Providers Transformation Assembly is now open. Join leaders from North America’s leading Health Systems at The Ritz-Carlton in Dallas, TX to discuss how the industry is adapting to a healthcare customer-centric transformation.
With the evolution of big data, providers must stay up to date with the new trends that develop through this widely used tool. Patient care is rapidly growing, shifting the industry to become customer-centric.Businesses must address rapid innovation and competition from non-traditional players, but above all, they must continue to respond to empowered consumers as customer-centric transformation sweeps healthcare.
Consumer demand for greater price transparency and cost savings remains strong.
Stay up to date with the trends that affect the healthcare industry, particularly healthcare providers, in order to stay informed, knowledgeable and innovative.
Through a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions offering insight into industry-specific topics and trends, will help you stay one step ahead.
This is not just another “Healthcare” event. Spaces are reserved for the best in the business. Apply for Millennium Membership today
Our agendas and attendee lists are for Millennium Members only. Apply today for access!