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Comprehensive Scope of Analytics


Though the patient is the ultimate consumer, analytics has exhaustive benets to offer all the entities in the healthcare ecosystem.


Provider Analytics: Government subsidies and widespread investment in electronic medical records and health outcome data are laying a new foundation for analytics for healthcare provider organizations such as hospitals, individual physicians’ offices, and group practices. Analytics, if adopted for both clinical and business purposes of a provider organization, can make it feasible to determine the most cost- effective treatment and the provider that offers it. Widespread digitization of the sector can make it take off.


Payer Analytics: Be it government or private, health insurance firms always had access to structured claims data that is more susceptible to analysis than the unstructured medical records collected by the providers. Traditionally, payers have used this data to improve billing and accounting processes, rather than improving the healthcare outcomes. They are recently beginning to venture into analytics based disease management by modernizing their database to include electronic medical records.


Life Science Analytics: Life sciences companies


manufacturing drugs and medical devices have employed analytics significantly more than the providers or payers. However, their analytics need to be reshaped for the concept of ‘personalized medicine’, which is a treatment that is tailored to individual patient attributes. Another rising trend is marketing drugs directly to end consumers, rather than through the physicians. Consequently, there is new data for commercial analysis and an urgency to contain the costs by increasing the efficiency of Sales and Marketing.


The various applications/areas where analytics can be applied for a provider or payer organization are as follows:


• Clinical: Quality of care, physician performance evaluation, medical error reduction, and customer relationship management


• Financial/Commercial: Analytics for claims, risk management, and revenue cycle management


• Operational and Administrative: Human resources/Workforce analytics, and supply chain and strategic analytics


• Research


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