According to a recent survey by CIO, 90 percent of respondents from the healthcare industry (higher than in any other industry) believe analytics has a positive impact on productivity and efficiency. Factors such as shifts in reimbursement models, evolving regulatory and compliance requirements and increasing accountability of financial and clinical outcomes are challenging the way healthcare organizations traditionally run their businesses.
We are seeing renewed collaboration within the healthcare ecosystem to deliver comprehensive, proactive, evidence-based patient centered care across the patient population. As a result, healthcare organizations are increasingly embracing analytics, with healthcare CIOs focusing on ways to leverage their existing data to produce useful, actionable insights for their organizations.
There are three basic forms of healthcare data – 1) Operational data such as electronic medical records; 2) research data such as genomic and genetic data and 3) Biometrics, qualitative data about patients etc. All these types of data can yield valuable insights to boost profitability and engagement. But for this, it is important to ask the right questions and select the right data for analysis.
Symphony Teleca Corporation (STC) has invested and developed a Health SymMetrics™ framework that includes guidelines for data integration, reporting, advanced analytics, decision support as well as mobility and cloud infrastructure. The framework helps in cost-effective and timely implementation of evidence based care which is key to accountable care and healthcare reform
For example, one our clients approached us to conduct a hospitalization risk analysis study for a dialysis center. We worked with the client to identify key factors that resulted in high hospitalization, expirations and transfer risks. We also studied disease clustering to show the impact of hospitalizations based on disease conditions. Finally, we developed models with predictive accuracy above 80% to generate a pursuit list of patients.
With the highly accurate models, the client has witnessed a 300% lift in the intervenability. The insights also helped control patient attrition from the dialysis center to other providers, thereby preventing loss in revenue.
If you are a healthcare provider looking to optimize your operations,