Big Data Proactive Risk Management

Overall Goals of Big Data Analytics in Healthcare

 

The large amounts of data enable for extensive analysis, correct treatment to each patient. Big Data in Healthcare provides benefits to all stakeholders i.e. patients, healthcare providers, payers, and management. The data environments in healthcare are diverse, complex and heterogeneous. Records are unstructured with medical images and extensive. The data volumes in healthcare are large. Other challenges that Big Data handles are analyzing clinical, behavioral and sensor data. The medical field can leverage Big Data to base decisions on healthcare evidence. Big Data and Electronic Healthcare Records will provide service and cost enhancements to medical service. It will enable for the reduction of hospitalizations that are not necessary, reduce healthcare costs, enable the use of predictive models and improve healthcare. 

 

 

If U.S. healthcare were to use big data creatively and effectively to drive efficiency and quality, the sector could create more than $400 billion in value every year. Physicians are able to personalize medicine because they can combine an individual’s personal genome and medical data.

 

Healthcare organizations are reliant upon data, but are missing the enterprise information infrastructure required for organizing and reporting on the data. The challenges are mounting with increased regulatory requirements, greater need for industry benchmarking, and pay-for-performance initiatives. To drive the informed and actionable decisions required, a new paradigm for data aggregation, analysis and reporting across the enterprise is needed.

 

We delivers innovative solutions based on best practices in enterprise performance management (EPM)—by integrating disparate data sources and business processes, while delivering on low cost for deployment and ownership. 

 

Margin Growth - understanding underlying cost impact is essential to driving healthcare margins. Sustain and grow healthcare revenue and margin by optimizing profitability and lowering costs. We help by providing: Profitability modeling & management, Budgeting & forecasting, Exception & variance reporting, OpEx & CapEx planning, Financial close, Cost center & service line analysis.

 

Improve Care - Service line analysis is a focal point in reducing costs and repairing inefficiencies in healthcare operations. Deliver value and patient satisfaction in high quality, optimized healthcare service lines by rebalancing projects, workforce and resources based on market signals. Tools include: Project portfolio management, Price modeling, Pay-for-performance, Workforce planning, Buyer fill-rate analysis, and Drill-down analysis & data mining. 

 

Improve Efficiency - Competition for customers is tougher than ever as specialty hospitals, surgery centers, and physician-owned facilities join the market. Achieve high operational performance and efficiency by reprioritizing initiatives and mitigating risk. Improve your Strategic planning, Integrated ad hoc reporting, Process automation, Operational planning & analysis, Activity-based management and ERP analytics.

 

Regulatory Compliance - Healthcare reform and government regulations bring increased reporting for safety and compliance. Drive accountable care that’s aligned with industry and government requirements. Tools for Governance, compliance & accountability, Strategic scorecards, Data flow analysis, Global consolidations and Master data management.

 

Key Performance Indicators, KPIs for Healthcare Analytics include: Activity – Census, Beds, Encounters (Admissions, Visits, Discharges) - Financials – Revenue, Costs, Profit - Medical Staff – Utilization, Quality, Charts - Human Resources – Employees, Benefits, Utilization - Patient Care – Clinical Indicators, Patient Support, Serviced, Patient Safety - Payers – Profiles, Utilization, Performance - Quality – Key Indicators, Measures, Survey Results and Markets – Markets, Employers, Legal Issues.