With the proliferation of EMRs and the trend toward value-based reimbursement, healthcare organizations have become inundated with previously unavailable clinical data. Hospitals have struggled to gain insights from the vast amount of data available to them in the new EMR age. Hospital leaders know there is actionable insight to be gained: improve quality of care, measure KPIs, reduce operational costs, track performance and increase patient safety. But collating that data in a meaningful way can be a challenge for information technology groups. Because of these challenges, the healthcare industry has experienced a huge and rapid growth in the business of healthcare analytics. Here are some of the biggest trends we’re seeing in the healthcare analytics industry:
One big trend that has arisen in healthcare analytics is the utilization of big data. Big data is defined as data or data sets that are too large or complex for traditional data processing/database systems. Used to improve patient quality of life by predicting epidemics, curing diseases and avoiding preventable deaths, big data allows healthcare providers to determine which patients are at risk for certain types of diseases so they can give preventative care to combat it. If used correctly, big data can help those providers leverage their EHRs and implement other tools and technologies for better patient care. At a large healthcare IT conference I recently attended, the first seminars to fill-up were all on big data. I think that says a lot about what our industry is being asked to do.
Population Health Management
The goal of population health management is to improve overall care management and reduce unnecessary clinical tests, procedures, hospitalizations, readmissions and more. By identifying a population of people who are at risk, it can prevent many costly health conditions and reduce overall healthcare costs.
The growth of population health management is due primarily to the transition to value-based reimbursement. Therefore, healthcare organizations are working harder to analyze the wealth of data obtained through EHRs and other technologies. Having a proper population health management system in place enables them to effectively stratify patients, identify risks and provide care to those who need it.
Analytical dashboards allow healthcare organizations to enjoy almost real-time insight to view and track patient visits, measure health outcomes, manage appropriate access to private health information, analyze performance data and support quick problem solving. They can be used to monitor a variety of clinical performance metrics, financial trends, and track clinical practice guidelines.
Healthcare organizations that utilize analytical dashboards allow for the optimization of patient flow through their organization by giving their employees secure, immediate access to critical patient information. Those dashboards can even be customized to quickly obtain specific information to comply with an organizational goal, governmental guideline or any other targeted measure.
According to MicroMarket Monitor, the predictive analytics market will reach nearly $2.3 billion by 2019. As in other industries, predictive analytics analyzes large amounts of data to find patterns, assess probability of occurrence and predict outcomes. As the amount of data that healthcare organizations obtain and store continues to increase, this technology becomes especially important.
Predictive analytics programs used by healthcare organizations should be timely, role-specific and actionable. They benefit providers by reducing patient readmissions, enhancing the accuracy of patient diagnoses, delivering more targeted care to high-risk patients and improving overall patient care.
Sifting through all the newest healthcare technologies can be confusing, but Syntrix Consulting can help you combine the right tools to meet your unique organizational needs. Contact us today for a free initial consultation. At Syntrix, We Make Healthcare Data Talk!™
If you're interested in ensuring your hospital is utilizing big data, predictive analytics and dashboards best, the first step is to implement an EMR reporting system that can handle dashboard creation and customized reporting, like Epic. Check out our FREE eBook below to see what an Epic Reporting implementation looks like: