Here are five things to know about big data analytics in healthcare, based on a report from Health Information Science and Systems.
1. The volume of health data is expected to grow dramatically over the next several years as more clinicians collect data and patients participate in health data gathering and sharing initiatives.
2. Reimbursement models are changing toward pay-for-performance, placing more pressure on healthcare organizations to acquire the tools, technology and infrastructure for big data. Big data can leverage findings to lower clinical risk and potentially save millions in revenue and profits.
3. Physicians and clinicians can use the health data gathered to educate patients during the treatment decision-making process to tailor solutions to each particular patient. The healthcare data can be used at single-physician offices through multi-provider groups and large hospital networks to treat patients more easily and effectively.
4. Big data analytics can save the U.S. healthcare $300 billion per year, with two-thirds of that through an 8 percent reduction in national healthcare expenditures. The clinical operations and research and development segments could save $165 billion and $108 billion in waste, according to the report.
5. Enhanced data and analytics could yield the greatest results in:
• Identifying patients who are the greatest health resource consumers
• Identifying patients with the greatest adverse outcomes risk
• Providing information to make informed decisions
• Allowing patients to manage their own healthcare
• Making it easier to track and adopt healthier behaviors
• Eliminating programs that don't help
• Reducing readmission through lifestyle changes and treatment plan adjustments
• Monitoring patients once they return home
• Bringing together clinical, financial and operational data in real time to analyze resource utilization