About 59% of organizations worldwide use big data analytics to improve their businesses - and the healthcare industry doesn't fall short of that. Healthcare organizations have collected data on their business processes and patients for years. And, while healthcare data analytics as a concept is not new, the COVID-19 pandemic has shone a bright light on its importance.
Entities from across the healthcare industry have moved quickly to leverage healthcare data analytics to better understand the pandemic, as it's played an increasingly significant role in healthcare decision-making. Healthcare data continues to be used by providers, researchers, and healthcare executives to appropriately allocate resources, improve patient care and outcomes, and deploy preventive measures.
And it’s also been used to highlight where healthcare organizations are falling short. After all, emergent circumstances often unearth improvement opportunities that have either been delayed or were not previously apparent. And that’s key to why we anticipate investing in healthcare data analytics to be a key trend in 2022.
Here’s a little more on why:
Even as the pandemic continues to progress, the healthcare industry continues its shift to value-based care. Healthcare organizations are becoming increasingly accountable for delivering high quality clinical care - and providing proof of its delivery. Healthcare data analytics play a key role in both.
From a global perspective, healthcare data analytics enable healthcare organizations to define and measure quality by tracking patient progress and outcomes. It enables organizations to more easily identify areas of opportunity and where to focus resources. Similarly, it also empowers organizations to identify best practices, and where care delivery currently excels.
Then, at a more tactical level, health data also enables providers to partner with their patients to promote preventive care. Rather than treating symptoms as they present, providers can leverage healthcare data analytics to identify patients at increased risk of developing certain conditions, and begin preventing or delaying those conditions from surfacing.
As quality of care delivery continues to take on increased priority within healthcare organizations, so must the importance of collecting and utilizing health data.
Just as hospitals increase focus on quality, they are also challenged to reduce inefficiencies. The “do more with less” mantra has never rang more true than it does today.
Hospitals continue to combat high volumes due to the pandemic and, outside of the operational challenges COVID-19 presents, every hospital and health system knows of operational inefficiencies that require addressing.
But where to start? Enter healthcare data analytics.
Access to healthcare data analytics helps clinical teams identify variation in care delivery and highlight opportunities to standardize care. Reducing variation is key to improving clinical outcomes and operational inefficiency.
The pandemic has resulted in a surge of health data collection, but it's also brought to light the need for greater accessibility and transparency. Today, healthcare organizations struggle with utilizing healthcare data that is siloed in different systems, and siloed across facilities. And as burnout continues to plague the healthcare industry, having centralized sources of healthcare data has never been more important.
The right healthcare data analytic solutions can help break down those barriers and begin to bridge the gap.
In 2018, it was estimated that there was 4.7 billion U.S. dollars worth of investments made in healthcare data, and that number was expected to increase to 7 billion dollars by the end of 2021. In 2022, we anticipate that number will only continue to climb.
Learn how PatientIQ empowers organizations to collect and measure patient outcomes. Schedule a demo.