The healthcare sector is moving into an era of hyper-personalization. The escalating growth in the industry is driven by factors including growing populations, the evolution of developing countries, increase in labor costs, and progress in the medical field. Although the quality of care and patient satisfaction largely depends on the relationship between patients and physicians, it is also bound inevitably by technology and advanced capabilities such as healthcare business intelligence.
Organizations can leverage healthcare business intelligence to unearth hidden patterns and clues for balancing costs, improving patient care, complying with the accepted standards and norms, and defining strategies for further growth. According to experts at Infiniti Research, one of the major flaws in attempts to enhance business operations in healthcare is the lack of an effective healthcare business intelligence strategy. Let’s explore and understand the key obstacles that are holding back providers from implementing a successful healthcare business intelligence strategy and understand how to overcome them.
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Access to data
Large healthcare organizations usually have a greater number of EHR systems that are in use simultaneously. While some of these systems are built in-house, others may be hosted through EHR vendors. As every EHR has its own backend database, pulling information from all of them could prove to be a tedious and time-consuming process. During such events, healthcare providers can turn to either an EHR conversion company to bring disparate data together and then leave it to the provider’s healthcare business intelligence team or leave the whole process of collecting information to a healthcare business intelligence company. Either way, the process will be handled by savvy businesses that are well-versed with EHR systems on the market, as well as their unique attributes.
High data sensitivity
Healthcare companies not only deal with the financial and personal information of their patients’ but also record sensitive patient and clinical data regulated by the strict HIPAA rules. They require extra security while handling. When it comes to effectively managing data, healthcare providers must think through the strategy of managing access to confidential information, distributing roles, and ensure data security across all sources and data warehouses.
While the volume and value of healthcare data are breaking new ground, many payers and providers are struggling to keep up with the capabilities needed to support and deliver the basics. Get in touch with us to learn how you can up your game with a better healthcare business intelligence strategy.
Healthcare data is often derived from different sources such as HER, ADT, and ERP. Also, this data is used by different departments in the healthcare organization including radiology, cardiology, pharmacy, and several others. The formats in which data is processed can also vary from videos and pictures to text or other multimedia. When all collected data finally gets processed, healthcare provides find a lot of data in their analytical system that hasn’t been stored as structured, codified values. Instead, the healthcare business intelligence team faces tons of unstructured text information. Mapping these values and structuring them across systems to extract valuable insights is a resource-exhausting and time-intensive process.
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