Healthcare Must Convert Data to Insight
As regulatory oversight continues to put mounting pressure on healthcare firms to transform operations to stay within the parameters of the sector, decision-makers are considering a new approach. Instead of building ad-hoc programs and hoping they align with critical requirements, organizations are adopting Big Data and business intelligence suites to get a better view of the "big picture."
Smart Data Collective noted that hospitals and other healthcare providers can use Big Data to look at internal operations and peel away the layers of processes that aren't necessarily needed because of financial or legal restrictions. Because the business intelligence and analytics landscape is so diverse, however, decision-makers need to ensure they select the most appropriate offerings to avoid having to go back and replace tools, which will tack on more wasted costs and energy.
Although some firms tackle Big Data projects to transform operations on a large, company-wide scale, others choose to take a more refined approach by only changing a few tactics at a time. Healthcare firms must take a middle-ground strategy between these two options because executives need to prioritize both their financial stability and the quality of service they deliver to patients, Smart Data Collective noted.
The healthcare challenge
Similar to other industries and sectors, healthcare is now collecting massive volumes of information due to the ongoing demand for digitization, mobility, and cloud computing initiatives. However, just because organizations aggregate large volumes of information doesn't mean all of those resources are usable and can translate into actionable insight.
TechTarget highlighted how hospitals and other healthcare firms often struggle to turn their images and other assets into information that can be mined and transformed by analysis. Although decision-makers know there are mountains of meaningful data hidden from view, organizations may encounter difficulties when they try to hack and slash through the brush to get to the oasis of data.
Rather than diving straight in to study such content, executives should first establish their priorities and objectives as well as how employees are expected to document the outcomes, TechTarget recommended. This organized approach will likely deliver better results and make embracing the Big Data concept as a whole less complex.
By properly strategizing and implementing business intelligence suites, healthcare firms can improve both internal and external processes without introducing unnecessary complications and hurdles.
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