Role of Big Data in the Healthcare Industry

Executive summary:
Big-data initiatives have the potential to transform health care value chain and
help patients achieve better outcomes. But the fruits of these initiatives will be
available only to companies who are committed to looking beyond the current
day to day work and are eager to commit resources and build their
capabilities. Only companies committed to this new line of thinking and are
focusing on innovation will be the first to reap the rewards of big data.
Healthcare industry Transforming
The healthcare industry is undergoing a significant change and transformation
in view of the changes due to the penetration of IT and use of data in the
society at large. This change is resulting in a host of new challenges that can
change customer experiences, impact care quality and also the bottom line of
the healthcare providers. With increasing demands from consumers for
enhanced healthcare quality and increased value, healthcare providers and
payers are under pressure to deliver better outcomes. Further the cost
dynamics of healthcare are changing, driven by people living longer, the
pervasiveness of chronic illnesses and infectious diseases, and defensive
medicine practices. Analytics provide the mechanism to sort through this
torrent of complexity and data, and help healthcare organizations deliver on
these demands.
Healthcare Delivery is getting Complex
The global healthcare industry is experiencing fundamental transformation as
it moves from a volume-based business to a value-based business. New market
entrants and new approaches to healthcare delivery are increasing complexity
and competition. But with the availability of big data analytics, the service

providers can move to data-driven healthcare that generates insights to the

organization which significantly improves the operational efficiency, quality of
care, and profitability.
Market Forces Driving Health Care Transformation
Increasing competition for the healthcare consumer
Health monitors and gene sequencing offering new opportunities
New engagement models
Increased regulatory requirements and reduced reimbursements
Customers are empowered by information, mobility and choice
Why analytics now?
Evidence continues to mount that healthcare is increasingly challenged by
entrenched inefficiencies. These inefficiencies can be attributed to several
factors, including the ineffective gathering, sharing and use of information.
The increasing regulatory presence of government places additional focus on
accountability, governance and oversight on the industry. Market dynamics
and competitive pressures require enhanced understanding of underlying
trends and a path to differentiation. Top performers in the healthcare industry
use analytics to differentiate, see the future and drive revenue growth. Beyond
the general application of analytics to business goals, the development and use
of analytics among top performers is geared towards achieving specific
objectives and priorities. Analytics can be focused in a variety of ways to
improve clinical quality of care, reduce costs and increase efficiency, and
increase revenue and return on investment (ROI.
Objectives of implementing Big Data Analytics?
Big data analytics is the key to unlocking the insights from the data
structured and unstructured. It empowers the healthcare providers to
combine, integrate and analyze all data at once regardless of source, type,

size, or format to generate the insights needed to:

Improve Patient Experiences and Outcomes
New regulations and technologies are giving patients more control over their
own care, as well as the freedom to choose innovative providers who can
deliver consistent, high-quality, personalized service. To compete and win,
healthcare providers need the ability to monitor customer experiences in real
time, minimize medical errors, and empower people working in the
organizations to make the most of each customer interaction at every touch
point.
Analyze structured and unstructured data together at once and
quickly
The insights of analyzing structured and unstructured data together at once
and quickly can provide help practitioners provide an exceptional healthcare
experience because they can monitor, analyze and improve their services in
totally new ways. At the same time, big data analytics can help improve patient
care quality and safety, by giving healthcare providers immediate access to
consolidated diagnostic information and reducing opportunities for medical
errors.
Increase Operational Efficiency for Higher Profitability
With Big Data Analytics companies can identify hidden opportunities to
reduce operational costs and gain efficiencies that directly impact the quality
of patient experiences and the bottom line. Taking action to improve
processes like these can tangibly enhance patient experiences and boost the
organizations reputation in the marketplace all while reducing the cost of
providing services.
Benefits and uses of Big Data Analytics?
With Big data healthcare providers get deeper insights about patients which

help improve health outcomes in the following specific areas

Population Management : understand patients at risk across the population
groups
Intervention : Getting into real time patient intervention using data
Health Economics : evidence that demonstrates a lower total cost of care and
better Outcomes
Patient Engagement : Managing customer feedback and reviews
Care Management : Reduce readmission rates with customized care
Customer management : Understand customer or patient needs in real time
using Big data analytics and social media
The following healthcare providers use big data analytics to improve the
patient outcomes across various segments of the healthcare market. We look
at few cases, were companies are effectively using Big data analytics and
technology to provide real value to customers.
Specific Use cases
Solving the big data problem at ICU and neonatal units of Children Hospitals
Using predictive analytics for epileptic seizures
Using big data to target preventable re-admissions
How hospitals are using Predictive Analytics to Improve Sepsis Outcomes
Conclusion: Finally, with the escalating costs of healthcare for citizens
across the world, the healthcare industry is addressing systemic inefficiencies
by improving data sharing and collaboration and applying analytics to
improve operations across the value chain, with a final objective to improve
and change the patient outcomes for better.