BUSINESS INTELLIGENCE IN HEALTHCARE (1)

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BUSINESS INTELLIGENCE IN HEALTHCARE HOW DATA
HELPS IN TRANSFORMATION
Everyone who cares about health should care about
data   According to Grandview Research, The
global healthcare business intelligence market
size was valued at 4.61 billion in 2018 and is
projected to expand at a CAGR of 12.8 over the
forecast period. business intelligence in
healthcare
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The increasing need to attain a better
operational workflow and enhanced patient care
mainly by healthcare providers, payers, and
manufacturers are some of the key factors
propelling the growth.   Business intelligence
and big data are expected to play key roles in
the future and are projected to boost market
growth. The healthcare industry has the potential
to positively impact all the stakeholders
including patients, clinical staff, physicians,
employers, payers, and providers with the help of
the business intelligence solutions. How data
helps healthcare to transform All major global
tech giants gather, aggregate and monetize
personal data in return for free online services.
What if this data-sharing model was applied to
medical discovery, or expanding treatments for
rare-disease patients?
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Recently, digital health has been growing
exponentially as big data, artificial
intelligence and other technologies come to the
fore, although many would argue healthcare is
slow to adopt and innovation is behind wider
society.   Healthcare analytics enables
hospitals and other healthcare units to
strategically move the core focus of their
organization from volume of patients to value
provided to each patient.   With the help of a
healthcare data analytics platform, organizations
will be able to reduce operational costs,
increase access, and improve care while creating
a positive financial margin in a dynamic health
economy.
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Digital technologies will help in understanding
the patient experience better, their environment
and lifestyle, particularly during clinical
trials. Data-driven decisions could increasingly
determine whether to accelerate or stop the
development of new innovations in healthcare.
  Harness the Power of Data Across Health
Systems and Institutions Healthcare Business
Intelligence solutions (BI) enable institutions
to unlock the full potential of the healthcare
business, making it quicker and easier to get
actionable insights out of the huge amounts of
data recorded from every individual from clinic
to specialist to hospital and back again.
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Technoverts Data Analytics solutions help
healthcare institutions to unlock the power of
data across health systems and institutions with
healthcare data analytics. We help in creating
analytics applications for any type of end-user,
technical or not, with the ability to embed
insights directly into the end-user workflow.
  Use cases   Better Patient Care (Analytics
and Digital Technology) Electronic Health Record
(EHR) Centralization Better Expense Management
and Allocation Accessing eHealth and Wearable
Devices Data Mining for Better Treatment
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The major benefits of Business Intelligence in
the Healthcare Sector include   Better and
faster decision-making There is a necessity
that healthcare professionals from different
departments need to collaborate in critical
cases. However, their collaboration, the
following decision-making, and treatment,
sometimes may be delayed due to the
unavailability of resources, especially of
equipment, facilities as well as complicated
system operations.   If there is a centralized
Business Intelligence portal in place, it will
provide easy and quick access to patients
insights which can enable rapid collaboration
among various departments, decision-making,
ultimately expediting patient care. Fluid
visualization provided can make it easier to
derive value from a patients historical data and
so, elevated care.
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Improved risk management If the complete
patient history is on the system and based on
their clinical, social and hereditary metrics,
Predictive Analytics enables healthcare
institutions to pre-empt potential medical
challenges patients would face.   This helps
them to take timely precautionary measures to
diminish the impact. Leverage BI to
electronically integrate and distribute patient
data across ER departments and significantly
reduced consecutive ER visits for many patients.
  Patient care and satisfaction Patients
might be spending extensively on tests and the
treatment as they and their families do not have
clarity of their medical conditions which can be
troublesome.
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Healthcare institutions can leverage a BI
application that can collate all reports and
present them in a visual format, providing a
detailed insight on every aspect of the patients
health.   This solution helps in eliminating
the requirement of repeated tests which in turn,
helps to save money. Moreover, with patient data
becoming so comprehensive and detailed,
physicians will be able to provide individual
patient care, thereby boosting patient
satisfaction, rather than continuing with a
one-size-fits-all approach.   Better Cost
Management Patient variation and waste
associated with treatment are the major
contributors to escalating hospital costs.
Healthcare providers should turn to data
analytics to reduce the cost of patient care and
cut wastage.
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A healthcare enterprise data warehouse (EDW)
organizes a health systems clinical, financial,
patient satisfaction and administrative data into
a single source of reliable information that
helps to take a data-driven path of cost
management.   With all the data available in
one place, tasks like costing and billing become
free of errors and variables can also be easily
calculated.   Summary   Digital health has
been growing exponentially as big data,
artificial intelligence and other technologies
come to the fore, although many would argue
healthcare is slow to adopt and innovation is
behind wider society.
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The industry will have to change the way it
talks. This is much broader than drugs or data.
Its about optimizing patient care and delivering
real outcomes. Pharmaceutical innovations have
saved millions of lives in the hands of
healthcare professionals.  Digital health is
the next step and it could go a lot further with
the right dialogue, so lets start talking.
  About Technovert Technovert offers
comprehensive business intelligence consulting
services inclusive of Power BI solutions, Data
Visualization, Dashboard Design Development
along with DBA support services.    Contact us or
schedule a meeting with our BI experts now.