With the increasing reliance upon data in health care comes the opportunity for improvements in the way various elements of a facility are monitored and evaluated. Insights into the waste of resources, performances of doctors, as well as the overall health of the client base can be easily discerned. In this way health can analytics can improve patient care, revenues and the overall health of the population in general.
Better Physician Performance
There has been a shift in the way care is provided in most medical facilities, where the emphasis was once on volume, it’s not about value. This has led to a need to rate the efficacy of individual practitioners. Analytics can be used to measure patient outcomes, wellness and overall performance evaluations for individual doctors. Data can be derived from the number of complaints lodges against a medical professional, the resources they use, and of course the overall wellness of their patients.
Value-based payment initiatives put the onus on doctors to perform or perish. Now, rather than being compensated for the sheer number of patients a physician sees, they are being paid based upon the patient outcomes they achieve. This reduces the potential for instances of unnecessary procedures, which can reduce costs for patients (and their insurance companies).
Paying closer attention to trends in outcomes, individual patient costs can be predicted, which can position the facility to make more accurate decisions regarding staffing and supplies. This enables administrators to minimize waste, which in turn reduces costs.
Chronic diseases, many of which are preventable, are responsible for the largest share of patient treatment costs in the healthcare industry.
Determining which patients are at risk for these diseases and instituting measures to intervene before they take hold can greatly reduce the costs a facility faces. Healthcare analytics can help monitor patient habits, evaluate socio economic factors and the environment in which patients live.
These elements have a direct role in the nature of chronic illnesses individuals contract. This data can be used to predict the risk a patient faces and take steps to help them avoid these illnesses before they can develop. Data harvested from wearable health tracking devices can be used to inform the design of personalized programs geared to each person’s situation.
Human error is an unfortunate aspect of any industry, including the medial profession. Prescriptions establishing the wrong dosages, or worse, the wrong medication altogether can contribute to higher costs and of course, poor outcomes.
Health care analytics can be employed to review patient data and prescriptions to trigger alerts when the two don’t quite match up. In situations in which doctors see a multitude of patients over the course of a day, such mistakes can — and do — happen. Leveraging analytics in this fashion can actually save a patients life.
Minimize Instances of Legal Action
Imagine the reaction of the family of a person who dies because they were prescribed the wrong medication. On the other hand, analytics can also be used to thwart those who would attempt to perpetrate fraud. Claims can be analyzed according to behavioral patterns to determine how likely they are to be legitimate. This can also result in more timely resolution of cases when the veracity of records, details and victims can be verified more rapidly.
These are but a few of the ways healthcare analytics improve patient outcomes. While we’re on the subject though, it should be noted, this, by extension also improves outcomes for healthcare professionals, facilities, and insurers.