Health Analytics is an exciting area of digital innovation. Health care is one of the fastest growing markets in the world and analytics plays a critical role in helping healthcare providers understand their customer and react quickly and efficiently to changes in consumer preferences, demands, and technology. Health care requires a seamless integration of information from various sources such as government and business, but also from the physician’s office, clinic, hospital, and nursing home. An effective analytics program will help healthcare providers improve their services by providing insight into the activities of their patients, while enabling them to make informed decisions about their patients and services.
One challenge for most physicians and administrators is gaining access to the enormous amount of data that is necessary to analyze and create effective medical decisions. Patient lifetime outcomes are increasingly important to physicians and other stakeholders in the health sciences industry because they are directly tied to patient care. Challenges in data management and security are leading healthcare organizations to embrace the use of third-party vendors who specialize in life sciences analytics and integrated data management to gain access to massive amounts of health information. By streamlining processes through improved productivity, reducing errors due to human or machine error, and improving quality of care, life science analytics can play a key role in healthcare improvement.
Healthcare is a billion dollar industry and each year the number of people insured grows significantly. As the baby boomer generation ages the need for long term care and hospice services is on the rise as the population ages. These increased needs and aging citizens will require more comprehensive healthcare programs that integrate health analytics to give patients a better understanding of their own healthcare and to provide them with more personalized care and the tools to make informed decisions. Health analytics will help to address these needs by collecting comprehensive data and presenting it in a manner that is easy to understand and ultimately help to improve patient outcomes.