According to a report by MarketsandMarkets, the healthcare analytics market is expected to reach $18.7 billion by 2020. Part of this growth can be attributed to healthcare mandates from the U.S. government that encourage healthcare organizations to adopt healthcare IT solutions.
As we discussed in a previous blog, healthcare analytics offers organizations an opportunity to dramatically improve the quality of care by leveraging more value and insights from their data analytics. Healthcare analytics tools, which are designed to equip healthcare organizations with predictive analytics, data modeling and trending for operational, financial and clinical data, can transform this data into actionable insights.
A successful healthcare analytics program/system involves a combination of the following facets:
- A detailed plan based on organization needs, structure and resources
- A list of operational, clinical quality and performance goals
- Necessary technology and infrastructure
- A list of documented business rules to avoid inaccurate data
- Appropriate data governance policies and procedures across all data and systems
- Detailed business objectives with measureable outcomes
- Ability to integrate financial, clinical and operational data sources
- The availability of quality data sources
- Functionality to provide insight into various workflows and processes
- Ability to secure and keep patient data private
- Capability to identify opportunities to improve patient safety
- Instillation of a data-oriented culture/removal of cultural barriers
- A detailed data quality review process that describes how the data is being captured, transformed and normalized
- Capability for report generation by multiple business and clinical users
- A tool or combination of tools that have the ability to score predicted outcomes for improved care coordination
- Functionality to track compliance with regulatory requirements and clinical care quality measures
- Inclusion of appropriate techniques to ensure the data addresses specific user and organizational needs
More than any one item from this list, a successful Business Intelligence and Analytics implementation takes an organizational commitment. Hospital and clinical leaders must work together to define a vision for how analytics will be used to meet the overall goals of the organization. Department leaders need to work together to transfer cross-functional knowledge of work flows and share resources to create a climate of collaboration and unity. In every successful analytics program we’ve been a part of, executive level support is the one constant.
Though the healthcare analytics marketplace can seem overwhelming to many healthcare organizations, Syntrix Consulting offers healthcare analytics templates that allow users to see what matters and take action without dependence on IT. Whether you want to optimize your current healthcare analytics system/program or need custom support, we can help you move quickly from having data to celebrating results. Contact us today for a free initial consultation.
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