Healthcare is getting a massive boost from technological advances and we’re already starting to see positive changes in the field today. The healthcare industry in North America has been in dire need for reform as a result of rising costs, quality of care, and hospital-acquired illnesses. The tool being used to address and overcome these problems is “Big Data” and there’s no surprise here as there is just so much of it.
Big data has been on the tip of everyone’s tongue this year and the healthcare industry is no different. But experts believe that big data will have a huge impact on the field and this is just the beginning. By utilizing the power of data analytics, hospitals and clinics can streamline their services to make them more efficient.
Big data can be used to automate certain healthcare functions with a continuous flow of inbound data, analysis, and feedback. Further, big data enables one to see a bigger picture when it comes to health and patientcare. With access to good data, medical professionals can now make predictions and offer better service to the public.
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1. Prevent Re-admissions
Researchers have found that with the right access to data, about one-third re-admissions to hospitals can be prevented. By using predictive analytics, claimed data and health records can be used to predict which patients will require treatment and when they would require it. As a result, this set of patients can be identified as a hospital risk for six months.
2. Perform Interventions
Another aspect of preventing re-admissions is to perform interventions before the high risk patient has an emergency. By scheduling appointments or conducting home visits can significantly reduce healthcare costs for patients and enable them to continue living a healthy life.
Although we’re at the beginning of this journey, healthcare providers have already started using big data to provide advanced treatment options for congestive heart failure, diabetes, and chronic obstructive pulmonary disease. By using algorithms, medical professionals can be pre-warned of future hospitalization.
3. Control Adverse Events
Big data analytics also provides opportunities to control adverse events. By monitoring negative results during treatment, healthcare professionals are able to help patients avoid cost-intensive treatments that don’t work. This process also has the potential to save thousands of lives!
4. Quality & Accountability
The incorporation of data analytics has also made it possible to monitor physician-specific quality of care and accountability. By gaining actionable insights from the data, hospitals now have the opportunity to provide a full picture of the patient’s health, the care received, when and where care was administered last, and make predictions.
This was not possible in the past as access to electronic medical records (EMRs) was limited to basic information. These days, EMRs can also be used to keep track of physicians and their performance on the job (incentives for high performance, consequences for low performance). As the doctors have never been put on the spot before, this in turn could change the behavior of medical professionals.
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5. Lower Costs with Fee-for-Value
Hospitals have traditionally been operating on a fee-for-service volume-based business model. As a result, the success of the business was based on a high number of patients that were treated. This had a negative impact on patients as doctors chose to maximize tests and other medical procedures. However this is quickly changing as big data now allows the industry to switch to a fee-for-value model.
This new business model incentivizes physicians and hospitals to engage in proactive care that keeps people out of the ER. By utilizing data analytics, healthcare providers are now able to understand the needs of patient populations and effectively deliver the care that’s required. This enables the patient to be in front of the right hospital staff which can potentially eliminate the need unnecessary hospitalization.
The value proposition that big data brings to the healthcare industry can significantly revolutionize the field. By fusing all the different approaches of using big data in healthcare, new opportunities will also open up for future revenue generation. Not only does big data help the patients, but it also helps the whole industry become optimized and more efficient.
Are you looking to start an eHealth software development project to take advantage of Big Data? Request a free consultation with Intersog now!