More and more healthcare organizations harness the power of big data through investments in data mining and analytical tools. Here are some infographics from key healthcare network influencers to reveal trends in healthcare analytics.
IT leaders within pharmaceutical, payer and provider organizations identify a significant opportunity for big data analysis. 54% of health IT stakeholders who spent 1-5% of their total budget on analytics achieved greater success for financial and clinical management processes, according to EMC.
We have viable solutions to the historical big data analytics operational challenges, according to Evariant. While this analysis helps to improve patient quality of life, increase preventable care and cure diseases, Evariant points out that big data analytics can even predict epidemics within 70-90% accuracy.
Increased accuracy and treatment of patient diagnosis, more targeted care for high-risk patients and better overall outcomes are just a few of the benefits of predictive analytics - a market that will balloon to $2.3 billion by 2019, according to Micromarket via Perficient.
The majority of healthcare organizations focus their data analytics efforts on specific patient/consumer populations, including high utilization, high cost or other complex groups. 86% collect clinical data for analysis but only 45% combine socioeconomic information with that same database. Via Healthcare Intelligence Network.
Data analytics also provides value for healthcare oversight and regulating agencies, like the Centers for Medicare and Medicaid Services. A recent analysis shows that administrative actions, powered by analyzing payer data, saved over $650 million.
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