Significant Benefits of Big Data Analytics In Healthcare Industry

​Data analytics in healthcare is a mixture of clinical innovation and technology altogether. As the healthcare industry is continuously generating large amounts of data in different forms, it is almost impossible to manage this data over soft or hard copy formats. The current trend favors digitization of these large amount of data. Driven by mandatory requirements, the current generation favors “Data Analytics”. This promising technique supports a wide range of healthcare functions to improve services and tackle problems in healthcare sector. Big data platform is capable of processing terabytes and petabytes of data, as a result of which, data analysis becomes easier.  

Big data analytics has offered a new way to healthcare organizations to develop actionable insights, organize their future vision, boost up the outcomes and reduce time to value. This approach is also helpful to provide insightful information to the healthcare enterprises regarding their management, planning and the measurements. The evaluated results can further help enhance the decision making capacity of the top management.

Data analytics in healthcare can be used to raise the standards in following fields!

• Public Health: By analyzing disease patterns and recording disease outbreaks, public health issues can be improved with analytics approach. Large amount of data can help determine needs, offer required services and predict and prevent the future crises to benefit the population.
• Electronic Medical Record or EMR: An EMR contains the standard (structured and unstructured) medical data that can be evaluated with the data analytic approach to predict patients at risk and provide him effective care.

• Patient Profile Analytics: Advanced analytics can be applied to patients’ profile for identifying individuals who could benefit from proactive approach. This may include lifestyle changes.
• Genomic Analytics: The data analytic approach can be effectively included in genomic analytics to make this approach a part of regular medical care decision process.
• Fraud Analysis: This data analytics approach helps analyze greater number of claim requests to curtail down fraud cases. An effective analysis can help reduce fraud, waste and abuse.
• Safety Monitoring: Data analytics can also be used to analyze real time large volumes of brisk data in hospitals. The approach may help in the safety monitoring and negative event prediction.

Data analytics in healthcare has the potential of transforming the ways healthcare organizations offer their sophisticated clinical facilities. This powerful analysis method is ideal to improve the care, save patient’s life and lower the cost of the health facilities charges.

Why Data Analytics in Healthcare

The health data volume is increasing and the graph is expected to breed dramatically in the years ahead. However, the current data managing ways that are residing as prominent techniques of evaluation are not as capable as data analytics can prove to be. These data analysis techniques have the capacity to capture, process, distribute and manage the analysis in specific form that makes it easy to get reliable information. With this particular evaluation, vast amount of patient-related health data is analyzed in a better way to get a deeper understanding of outcomes, which may be applied at the point of care for better facilities.

This technique is equally effective for different healthcare organizations ranging from individual physician to multi provider healthcare organizations. The technique can be used to manage:

• Specific individual and population health issues
• Fraud management in an effective way
• Clinical innovations to determine affordable ways to diagnose and treat patients
• Effective R&D methods for the drugs and devices
• New treatments that are introduced into the market
• Analyze clinical trials prior to a product (medicine or device) reach to the market

Few Big Data Analytics Companies  

In this extremely competitive scenario, healthcare companies are ending up as the biggest gainers. In the present market state, vendors are in an increased competition to outdo each other while providing innovative healthcare services.

We have listed some prominent big data analytics companies who are leaders in the global healthcare spectrum:

1. Oracle: Oracle is one of the vendors that is providing data analytics services in the healthcare sector. The company provide solutions with data transparency. The data is further evaluated to improve patient’s safety and security.
2. Sparx IT Solutions: Sparx IT Solutions offers integrated portfolio having healthcare information that works as a solution for hospitals and physicians. In addition to this, it increases the organization’s caring approach towards patients.  
3. IBM:
   IBM’s offering as a healthcare vendor includes improving healthcare system. The smart analytic platform from this company reduces the complexity of data to provide strategic opportunities for developing effective plans.
4. Allscripts healthcare solutions:
   Allscripts healthcare solutions’s data analytics services provide health management solutions such as wellness and decision support system that help improve collaboration of treatment, which further improves patient care and offer optimal value return to the payer.
5. Verisk analytics:
   Verisk analytics is one of leading vendors in the healthcare data analytics market. The company provides health solutions in different aspects that include enterprise analytics, payment accuracy, quality and compliances, and revenue integrity.
6. Big data analytics is emerging as an exceptional leader that helps to manage the large amount of data in a digitized form. The approach is getting bigger and better as a number of companies have ventured in the contest to provide the best healthcare analytics services. With an effective data analytics approach, it is easy to plan and manage the decision related to healthcare issues. However, the current market trends predict a huge expansion in data analytics services with a number of companies expanding as big data analytics service providers. 
   
   ​Source: http://www.builtinla.com/blog/significant-benefits-big-data-analytics-healthcare-industry