Big Data is reforming nearly every modern industry and has the potential to transform everything. And now, innovative companies have started using Big Data to make health care better. With various programs aimed at improving healthcare and reducing costs, health providing organizations have more reasons to become data driven. There is more data available to work than they can ever realize, and the data landscape is changing rapidly these days.
Key issues faced by the Healthcare markets (Payers & Providers) today is data liquidity. The data is very crucial and comes from various sources not limited to, Legacy Electronic Medical Records, Laboratories, Transcriptions, clinical trials, Digital imaging, social media, etc. The key to addressing these challenges in healthcare is to become skilled at data maintenance to improve patient care, drive innovation and enhance organizational performance.
Healthcare stakeholders, payers, providers and pharmaceutical organizations have now started to use business analytics and more specifically Big Data. Due to the use of modern architectures this could be resolved and patients, hospitals could be benefitted in numerous ways be it in disease prevention & timely treatments. Although these actions are still in the early stages, big data can collectively help them address problems related to inconsistency in healthcare quality and accelerating healthcare spend. Like, researchers can mine data to see what treatments are most effective for the specific condition, identify patterns related to drug side effects, and gain actionable insights that patients, doctors, and business users can understand.
Big data has the potential to create significant value in Healthcare by improving outcomes and lowering costs. These technologies not only reduce the burden of timely care to patients but also relieves the providers by systematic assignments and reduce duplication of work. This could be achieved by predictive analysis, real-time monitoring, equipment managements and EMR, EHR analysis thus giving opportunities to new and innovative methods of operations.
The big-data revolution is in its early stage, and most of the potential usage is still unclaimed. But we will see a rapid change in the Healthcare sector due to data-driven technologies- the spotlight in today’s market. This helps healthcare organizers focus on patient care rather than wasting time in managing assets. It has set the industry on a path of rapid change and new innovations; the healthcare committees that emphasis on innovation will more likely be first to gain the rewards.