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In a field where millions of pieces of invaluable patient data are constantly being moved from one end of the system to the other, the value of data is immeasurable. Great information The penetration of technology into the market makes it possible to convert this data into knowledge that can then be applied to provide improved healthcare services to end consumers. The wave of digitization has gradually changed how hospitals and other healthcare systems manage and access medical records to provide improved care services to patients.
Unlike other businesses, the healthcare sector has been slow to adopt new technologies such as Big Data, although its impact has been felt in the short term. Companies that have successfully used Big Data to provide affordable healthcare services to an expanding population have seen improved performance.
How data intelligence enhances the efficiency of the healthcare sector
According to Grand View ResearchThe global market for data analytics in healthcare was estimated at $26 billion in 2019 and is expected to grow at a CAGR of 7.5% from 2020 to 2027.
The delivery of healthcare services will change as a result of data analytics in fields as diverse as cancer therapy, drug research and disease prediction. Almost every aspect of healthcare will be affected by the use of advanced analytics technologies and the ongoing geometric growth in the amount of data that can be analyzed, including the accuracy of insurance rates, the automation of administrative processes and the use of artificial intelligence (AI) in diagnostics.
Referral to high-risk patients
In the world of medicine, predictive analytics is all about leveraging existing data to provide medical predictions that help hospitals avoid reimbursement and financial penalties and improve patient care. The use of predictive analytics in the healthcare industry can help improve patient care, supply chain efficiency, hospital administrative operations, and chronic disease management.
In the case of emergency patients, hospital readmissions are relatively common, which ultimately leads to inefficiencies in the provision of treatment and increased costs borne by the service provider. If hospitals can identify high-risk patients early and treat them with personalized and patient-centered care, the problem can be brought under control. Predictive analytics can reduce the frequency of repeat visits to the emergency room by using real-time patient data to draw predictions that are clinically relevant and help make future decisions.
Help prevent security risks
The healthcare sector is highly vulnerable to security breaches as it handles an increasing amount of information, including patients’ personal and medical information. A little technical inefficiency or ignorance makes it easy for technically competent and sound attackers to access hospital databases and steal important patient data.
The security concerns of the healthcare industry can be addressed by big data. However, healthcare organizations often fail to recognize their true potential and are compromised by weaknesses for which they have no remediation. The preventive benefits of Big Data are underrated because many people are not aware of its development and applications. By using big data analytics to investigate past and present fraud activities, healthcare companies should prepare themselves to avoid the possibility of being attacked by any similar security threat in the future.
Offers better customer engagement opportunities
The implementation of Big Data technology has helped the healthcare sector not only in the secure management and storage of patient data, but also in converting the data into insights that enable healthcare businesses to understand the needs of their customers and cater to them accordingly. Companies developed the idea of wearable electronics such as health watches, mHealth apps and web-enabled Internet of Things (IoT) devices as a step towards providing better treatment. These products allow people to take control of their health without constantly seeing a doctor.
With the help of medical aid gadgets, people can now keep track of their heart rate, sleep duration, calories burned, number of steps taken and other data. All the information collected by these consumer engagement tools is then placed in the cloud, where it can be easily accessed by doctors around the world to use as a resource when needed and to create personalized treatment plans for each patient.
End medication errors
We often see reports of patients who have been given the wrong prescription, which in the worst case scenario can even result in the untimely death of the patient. The healthcare sector has not fully embraced technology in its operations and still relies mainly on manual record-keeping processes and other administrative tasks, which are a major source of such mishaps.
Research will reveal that due to improper maintenance, most of the hospital database has turned into a repository of inaccurate or partial information. Unpreventable human errors can only be avoided by using big data, which can help keep a structured record of a patient’s prescription history for current and future use. Medicine can be made error-free by systematically collecting, archival and analyzing massive amounts of medical data sets.
Lower hospital costs
The use of predictive analytics in the healthcare market, as in other sectors, can help anticipate future developments and trends and take appropriate action using well-thought-out plans and strategies. Big data presents healthcare organizations with a tremendous opportunity to reduce costs and the time it takes to provide a high level of patient care.
Final thoughts
The use of data analytics in healthcare is already having a significant impact on the ability of healthcare professionals to provide high-quality care to patients in an effective and efficient manner. However, as more types of data become accessible and new tools are created that make analytics results easier and more understandable for healthcare workers, the role of data analytics in improving patient outcomes and healthcare systems continues to grow and expand.
Understanding how technology can be used to meet challenges faced by healthcare providers, such as staff recruitment and utilization, operational efficiency and improved patient experiences, is the first step to realizing the potential of data analytics to transform the healthcare industry. Knowing what patients want and need is essential to providing patient-centered care. Contains the key to data analytics.
Ashwani Rawat, Co-Founder and Director Transserve Technologies Pvt. Ltd.
(Disclaimer: The views expressed are solely those of the author and not necessarily subscribed to by ETHealthworld. ETHealthworld.com shall not be responsible for any loss caused to any person/organization directly or indirectly.)
