The healthcare industry is evolving, given the following key business imperatives:
- Accountable care organization has transformed the healthcare landscape to preventive and population-based care. Healthcare organizations are heavily investing on integrating care delivery across the value chain. With a wide adoption of digital and mobile technologies, niche players are rapidly innovating to bridge the gap between consumer, provider, payer, regulator and researchers.
- Secondary use of healthcare data is emerging as a key component of the data infrastructure for care providers to achieve their care quality, operational efficiencies, real world evidence and compliance requirements.
- Convergence of healthcare and life sciences with complete bench to bedside collaboration is helping achieve newer scientific frontiers for care providers. New biomarkers and diagnostics are helping healthcare organizations to bring innovative treatments faster to patients and in saving lives.
Healthcare organizations are looking to leverage data and analytics to improve patient experience and address regulatory needs effectively. By adopting mobility and digitization and effectively generating insights, healthcare organizations ranging from single-physician offices to multi-provider groups, large hospital networks, and accountable care organizations can realize significant benefits. Some key potential benefits:
- Healthier lifestyle and better care
- Patient-centric personalized medicine
- Reduction in cost of care
- Early detection of diseases driven by data
- Fraud detection
- Improved satisfaction
Infosys point of view
Healthcare is inherently a data-driven industry and historically, has generated large volumes of data driven by record keeping, disease database, compliance and regulatory requirements and patient care. In the healthcare industry, data resides in multiple channels or sources:
- Providers generate clinical data related to healthcare services and outcomes
- Federal and state agencies provide operational information about compliance and quality standards
- The health plan generates claims data, provider and member satisfaction data and financial data
Healthcare organizations are looking for a boundaryless data platform which could seamlessly integrate with all the disparate data sources comprising of structured and unstructured data as well as master data. Such an integration capability would enable analytics solutions to leverage the boundaryless data platform and generate powerful business insights to drive decision making in the enterprise. Combining historic data with data science-driven predictive models, outcomes such as length of stay (LOS), choice of elective surgery, patients not likely to benefit from surgery, potential complications, patients at risk for medical complications and more can be predicted.
Leveraging data and analytics will enable healthcare organizations to effectively manage and respond to the following key trends in healthcare industry:
- Move to value-based model from a fee for service model which entails hospitals to optimize costs and increase data exchange between payers and providers to truly measure efficacy of care through data analytics
- Cloud-based solutions to handle big data – clinical, genomic data, sensor data, doctor’s/ lab transcripts
- Emphasis on reducing cost of care; simplified and integrated systems can deliver medical insights to doctor helping with data-driven decision making and deliver care more efficiently, faster and at lower costs
Analytics is playing a major role in transforming the healthcare industry. Here are some key analytics solutions for healthcare:
Improved fraud detection – Analyze large numbers of claim requests to detect and reduce fraud, waste and abuse (repeat billing, fake prescriptions, fictitious claims etc) more quickly and efficiently
Healthier lifestyle and better care – Capture and analyze data to help providers recommend healthier lifestyle choices to patients
Patient-centric personalized medicine – Genetics, biomedics and big data can help deliver personalized medicine
Early detection of diseases - Detecting diseases at earlier stages when they can be treated more easily and effectively through patient data analytics
Improved satisfaction – Improved patient and provider satisfaction driven by improved quality of information available
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