The 10 Best Revenue Cycle Management Solution Providers 2018 Cycle Management Final File optimize | Page 42

researches, data from the clinics and data related to the
patient’s behavior. Using Big Data we can better manage
and analyze the data. Healthcare analytics will help the
industry in reducing costs of treatment, predict outbreaks,
and avoid preventable diseases.
Decoding Data
The key to implementing Big Data in healthcare is to filter
the important information and discard the unwanted ones. It
will also need feeding data from all possible sources,
binding them and then breaking them down into meaningful
pieces. Once the industry is past the initial hiccups, the
benefits it can reap are many. Some of the major benefits
are listed below.
Advanced Patient Care can be provided by using a patient’s
medical records and his/her health habits. Data collected
from the patient’s electronic health records regarding
previous health issues, current medications, and health
combined with data from wearable health gadgets can be
used to provide better care and treatment.
Reduced Cost and Time by managing data and identifying
cost incurring areas and reducing them wherever possible.
The processes and procedures taking more time and
incurring more costs than they should be can be handled
easily.
Better Staffing according to the footfall trends can be done.
A hospital never wants to be understaffed or overstaffed.
Gathering data to identify the admission and discharge rate
over the past few years can give an insight into the general
proceedings of the hospital in a day. Accordingly, more staff
can be assigned during the bustling hours and reduced
during the laid-back hours.
Minimization of Error in medications and personalized care
treatment can be achieved using the services of Big Data.
Patient’s records can be analyzed along with the prescribed
medicines and anything out of place can be flagged by the
system utilizing Big Data. This will help prevent issues like
wrong medication, drug abuse and grave drug interaction.
Fraud Detection like medical abuse and insurance fraud can
be predicted and minimized well in time. A large set of data
pertaining to claims history can be analyzed to find fraud
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patterns and prevent further such incidents. Possible drug
abuse cases can be similarly captured and curtailed by
analyzing diagnosis, test, prescriptions, and follow-ups.
Real-time Monitoring of high-risk patients can avoid an
emergency case. A patient’s vital stats can be constantly
monitored and an alarm triggered, alerting the concerned
doctor, allowing the healthcare professionals to take
appropriate action.
Optimal Reimbursement amount can be decided with help
of Big Data. It can take into account the quality of services
provided, the efficiency of treatment, and the patient’s
response to the treatment, the claim process, and many such
contributing factors.
Inventory Management in a hospital can be improved using
Big Data Analytics. Based on previous inventory records,
the analysis can predict the number of tools and supplies the
hospital is going to need in the current year. This will save
the hospital from over-stocking or under-stocking. It will
also help in proper budgeting allowing the hospitals to
allocate funds fittingly.
Predictive Analysis can be utilized to identify people,
classes and areas more susceptible to certain diseases and
health concerns. This will help in providing customized and
personalized services to individuals. Mass vaccinations,
free public health check-ups and other preventive measures
can be taken well in advance to prevent an outbreak.
Better Personal Health can be achieved by patients when
they are well informed about their medical condition, their
medicines, and their vital stats. Knowing about what they
can and can’t do and how they are performing right now
can be a great motivational factor for them to achieve better
health.
Data is easily available, but need is to filter, organize,
manage, re-arrange and make sense out of them. Big Data
can help the healthcare industry to do just what it needs
right now and make it better An improved health care
industry goes a long way in building a great nation.
- By Sneha Sinha