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Healthcare providers collect massive amounts of data today across a wide array of disciplines, and the data- dependency will only grow. Despite this wealth of data, most healthcare organizations are not effectively using this information to fully benefit patients or themselves. An unprecedented opportunity exists to leverage patient information as well as non-clinical data to support a variety of healthcare functions, including population health management. Let’s explore how a data- driven approach can transform your organization.


In healthcare, a number of trends are converging to make data analytics more important than ever. First, the shear amount of available data is greater and growing rapidly, boosted in part by the increase in electronic health records, sensors, wearables and other technology. Virtually every aspect of the healthcare ecosystem now yields digital data.


In addition, healthcare policy and operations are moving from a provider-centric model to a value-based, patient- centric delivery system. One sign of this is the shifting payment structure for physicians in the United States and in other countries. Physicians are now tracked by metrics such as quality, outcome and patient satisfaction, and this often determines reimbursements.


The final trend is patients’ growing awareness of healthcare costs and information. Better-informed, technology-savvy consumers are seeking more personalized attention from physicians, as well as access to their patient records and plans of care.


Keys to improving population health include gaining a better understanding of health patterns and diseases. A study by McKinsey & Company estimates that the healthcare industry could potentially realize $300 billion in annual revenue by leveraging patient and clinical data. In this environment, hospitals, systems and other health- related organizations have the opportunity to leverage actionable data to accomplish three goals: 1) improve patient interactions and outcomes through better- informed decisions, 2) provide patients with a better experience in the healthcare environment, and 3) reduce costs.


Five Key Questions To put it simply, organizations can start to wrap their minds around this transformational data initiative by formulating and along the way answering these five questions:


Vol. 5 Issue 4 Aug 2016


HOSPITAL & HEALTHCARE MANAGEMENT www.hhmglobal.com


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