Healthcare IT Spending Focuses On AI & Data Analytics In 2019
Think about the technology inside your average hospital—at any given time there are dozens of devices collecting data of all sorts, from patient intake information to vital-sign monitoring; prescription requests to hospital bed availability status. The types of data hospitals collect on a continuous basis goes on and on. On the patient side, hospitals aim to capitalize on this data to optimize the care they’re providing. On the business side, hospitals are trying to maximize their revenue while reducing wasteful practices.
Now zoom out. Within the overall healthcare landscape, there are other types of companies similarly aiming to use data to improve their operations—like pharmaceutical companies, insurance providers, etc. This is an industry rife with valuable data but still figuring out how to best use it to drive better decision-making.
A recent survey found that more than three-fourths (79 percent) of healthcare executives said “they have a greater urgency for investing in big data and artificial intelligence (AI) initiatives.”
But, despite the majority of executives who feel their organization needs advanced data analytics and AI to remain competitive and perform well, only 31 percent of survey respondents believe their organization is data driven. Even fewer say their company has achieved a “data culture.”
This points to a disconnect between intent and reality—healthcare leaders are obviously seeing the need for better analytics, but are still in the process of actually implementing the technology they need to reap full value from stored data.
Is Data Analytics in Healthcare an IT Issue?
A few challenges have traditionally plagued data analytics in healthcare. One major hurdle is that anything data-related has often been relegated to the realm of IT—meaning organizations using legacy systems saw their data heavily siloed. Business users with questions would have to work through data specialists, meaning it took a certain amount of time and hassle to get data-driven insights.
However, the advent of self-service analytics from providers like ThoughtSpot has bridged the gap between business users—like executives, administrators, physicians, pharmacists, nurses, etc.—and ad hoc insights. The latest wave of data analytics allows a wide range of users outside the IT team to ask questions and get answers from within stored data, complete with an automatic chart. The AI-driven analytics tools available also allow these users to launch advanced insight-detection algorithms with a click, helping them divulge insights that would have otherwise stayed buried deep in stored data until a data scientist went digging for it.
The latest wave of data analytics technology prioritizes accessibility for all, speed and user-friendliness—three attributes that make it very valuable within the context of a fast-paced healthcare organization.
The Transition to Value-Based Care
Healthcare organizations are increasingly gauging performance instead of value-based care as opposed to volume-based care. Instead of looking at the volume of patients served, organizations are looking at the outcomes they’re achieving. This means healthcare providers have more incentive than ever to offer the best care at the lowest cost.
Healthcare organizations serious about providing value-based care to patients need data to know how they’re doing. Data-driven insights help decision-makers within healthcare figure out what’s working and what isn’t; it helps uncover new ways to improve the services they’re providing. It has the potential to optimize daily workflows, streamline best processes, enhance the hiring and training process, reduce wastage, fine-tune the supply chain and fortify patient outcomes. Utilizing data can even help hospitals reduce readmissions and help patients recover from major procedures faster! The potential is there, but the payoff depends on deploying the right tools.
In today’s competitive healthcare landscape, organizations need every advantage on their side. This is why leaders anticipate healthcare IT spending will focus on AI and data analytics: because it can revolutionize how organizations operate.
7 Common Reasons Why WordPress Websites Get Hacked
If there is one content management system (CMS) that’s credited for revolutionizing the modern web, it’s WordPress. Thanks to this revolutionary software, making any type of website is not difficult today. Its flexibility and ease of use make it so popular that WordPress powers as…
Manage Endpoint Security With Cloud-Based Action 1
Meet a free Cloud-based endpoint security and patch management solution from Action1 (www.action1.com). This top-ranking solution facilitates network discovery, enables you to find installed software and orchestrate software updates across all your endpoints regardless of their location. With many tools over there, you might be…
Private Practice: Crucial Services Your Startup Needs
Medical professionals around the world dream of having their own private practice. It allows more freedom for dictating your own schedule but it does come with its own set of challenges and while many are similar to those most startups face, starting a business in…
How To Keep Your Personal Information Anonymous And Secure While Using A Web Browser
Browsing the web or checking Facebook a few times a day has recently become something natural as breathing and eating. People wake up, immediately reaching for their phones to be up to date. Is it already an addiction to the Internet? Of course, it depends…
How To Stay More Secure When Using Kubernetes
Kubernetes is an open-source system for automating deployment of new apps and software, and is becoming increasingly popular due to its utility in going back to previous versions. But while lots of developers are excited to take advantage of the benefits and convenience offered by…
- 3D Printing
- App Dev
- Artificial Intelligence
- Arts and Entertainment
- Big Data
- Blockchain Tech
- Business Technology
- Car Technology
- Cloud Computing
- Cloud Storage
- Computer and Technology
- Conference Calling
- Coupons and Deals
- Cyber Security
- Dark Left 1
- Data Center
- Data Recovery
- Digital Arena
- Digital Marketing
- Edu Tech
- Email Marketing
- Google Glass
- Guides and Tutorials
- Health and Fitness
- Home Appliance
- Home Improvement
- Home Security
- Internet and Businesses Online
- Internet Marketing
- IT Careers
- Mobile Apps
- Mobile Security
- New Tech
- Online Shopping
- Project Management
- Reference and Education
- Reputation Management
- Sales & Marketing
- Self Improvement
- Shopping and Product reviews
- Small Business
- Social Media
- Tech Trends
- Technical Support
- Technology in Education
- Tips & Tricks
- Tips And Tricks
- Video Conferencing
- Virtual Reality
- Wearable Technology
- Web Design
- Web Development
- Web Hosting
8 Best Home Updates To Do In The Spring
8 Best Home Renovations To Take On In The Spring When the snow starts to melt and the weather slowly warms up, you likely have the urge to do a little work around the house. Here are some improvements to make before summer arrives: 1….
Use Android Parental Control Apps And Take An Interest In The Digital Activities Of His Children Without Blame
The screens quickly create a gap between parents and children. They limit conversations, disrupt meals, homework… Children are absorbed by their smartphones, tablets and other screens, so that they quickly become a source of tension. We use the deprivation of such a video game as punishment on…
Online Security Tips You Might Not Know About
Technology is now playing a major role in our daily lives. From how we work to how we spend our leisure time; it is central to us all now. Of course, a tech advance that has transformed our lives the most is the internet. While…
Here’s How Proxies Can Aid Email Protection
Are you concerned about your email protection measures? If that is the case, then this is for you. It all began in November 2014 with leaked emails from Sony Movie Pictures. After this leakage of emails went viral all over the world, people, organizations and…
3 Ways to Prepare For Cyber Security Risks That Employees Must Know
In a world where everything is much easier to do via mobile, app, or device, technology is not going to slow down. We’re all guilty of potentially owning more than one device, whether that is our personal phones, work phones, tablets or fitness trackers. All…
Non-Negotiable Elements For Your Business IT Security Plan
In 2019, having a business IT security plan is more important than ever. An IT security plan is the first line of defense you have for protecting your business – and your clients – against cybercriminals. Cybercriminals include hackers, who frequently obtain personal information with…