{"id":4941,"date":"2014-03-29T23:55:07","date_gmt":"2014-03-29T18:25:07","guid":{"rendered":"http:\/\/ivyproschool.com\/blog\/?p=4941"},"modified":"2024-11-15T14:16:12","modified_gmt":"2024-11-15T08:46:12","slug":"spotlight-healthcare-analytics","status":"publish","type":"post","link":"https:\/\/ivyproschool.com\/blog\/spotlight-healthcare-analytics\/","title":{"rendered":"Spotlight: Healthcare Analytics"},"content":{"rendered":"<p><!-- [if gte mso 9]&gt;--><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><i><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">How can patient data be used to detect significant geographic trends in disease?<\/span><\/i><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><i><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Is the Hospital Standardized Mortality Rates (HSMR) within limits?<\/span><\/i><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><i><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Does the re-admissions rate within 30, and 90 days, reveal a significant pattern for any physician or department?<\/span><\/i><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><i><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">How can performance metrics be applied to detect hospital mismanagement?<\/span><\/i><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">As healthcare comes within the reach of common people and foreign patients flock to India for medical treatment, the healthcare sector in India is witnessing a boom like never before. Hospital and healthcare chains in the private sector have been mushrooming all over the country. This has triggered an aggressively competitive environment in the healthcare industry. Government regulations and stress on hospital performance have therefore compelled hospitals to store massive volume of structured and unstructured data. To make sense of all this patient and hospital data, advanced analytics and metrics are applied for internal business insights and public health intelligence. For instance keeping check on healthcare irregularities, gross anomalies in hospital procedures, trends in admissions; besides extending insights to health related sciences and insurance.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">The value of analytics in healthcare on both the clinical and business fronts is increasingly being felt. Although Descriptive analytics is already in practice, the need for predictive and prescriptive analytics in healthcare is fast growing. <\/span><\/p>\n<p style=\"line-height: 150%; margin: 0in 0in 12.0pt 0in;\"><!-- [if gte mso 9]&gt;--><\/p>\n<p style=\"line-height: 150%; margin: 0in 0in 12.0pt 0in;\"><!-- [if gte mso 9]&gt;--><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">It has been <a href=\"http:\/\/www.marketsandmarkets.com\/Market-Reports\/healthcare-data-analytics-market-905.html\">estimated<\/a> that the global Healthcare Data Analytics market will grow at a CAGR of approximately 25.2% from 2013 to 2020, from the currently estimated $4,430.9 million(2013) to $21,346.4 million by 2020. \u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">In India, the healthcare analytics market is expected to grow to $120 billion by 2015, with data analytics and big data featuring prominently, as healthcare sector <a href=\"http:\/\/archive.indianexpress.com\/news\/healthcare-data-analytics-ushering-in-data-revolution\/1130116\/\">ushers in a data revolution<\/a>.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><b><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">So what is healthcare analytics?<\/span><\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><em><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\"><strong>Healthcare analytics<\/strong> or <strong>health analytics<\/strong> is the application of analytics and modelling to gain insights into the massive and complex data; unlock and apply such insights to drive clinical and operational improvements. This includes traditional transaction monitoring together with embedded real-time predictive analytics models to enable organisations to create dynamic and personalised healthcare, fraud detection and predict patient behavior for a business edge.<\/span><\/em><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">As health IT becomes more advanced with increased adoption of cloud and sophisticated database management technologies, the emergence of Big Data in healthcare has fueled analytics in a wide range of applications.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><b><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">By Type<\/span><\/b><\/p>\n<ul style=\"margin-top: 0in;\" type=\"disc\">\n<li class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Descriptive Analytics <\/span><\/li>\n<li class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Predictive Analytics <\/span><\/li>\n<li class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Prescriptive Analytics<\/span><\/li>\n<\/ul>\n<p><b><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">By Application<\/span><\/b><\/p>\n<ul style=\"margin-top: 0in;\" type=\"disc\">\n<li class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Clinical Analytics <\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0 ~\u00a0 Quality Care<\/span><\/p>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0 ~ Medical Error Reduction<\/span><\/p>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0 ~ Physician Performance Evaluation<\/span><\/p>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0 ~ Customer Relationship Management (CRM) <\/span><\/p>\n<p><!-- [if gte mso 9]&gt;--><\/p>\n<p><!-- [if gte mso 9]&gt;--><\/p>\n<ul style=\"margin-top: 0in;\" type=\"disc\">\n<li class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Financial and Health Insurance Analytics <\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~\u00a0 Claims Analytics<\/span><\/p>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~ Revenue Cycle Management (RCM) <\/span><\/p>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~ Risk Management Analytics <\/span><\/p>\n<ul style=\"margin-top: 0in;\" type=\"disc\">\n<li class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Operational and Administrative Analytics<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~ Supply Chain Analytics<\/span><\/p>\n<p><!-- [if gte mso 9]&gt;--><\/p>\n<p><!-- [if gte mso 9]&gt;--><\/p>\n<p><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~ Human Resource\/Workforce Analytics <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">~ Strategic Analytics<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~ Real-time forecasting<\/span><\/p>\n<ul>\n<li>\u00a0<span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Efficiency in Life Science and Social Science<\/span><\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ~ Advanced analytics for better understanding of disease, identification of next \u00a0\u00a0\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 generation healthcare systems, optimization of strategies for <\/span><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">drug discovery, <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 clinical trials, sales, marketing, and manufacturing.<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Public Health Analytics<\/span><\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Healthcare data is not standalone patient information data, but also medical imaging and diagnostic data, genetic data, epidemiological data, disease data, hospital admissions data, re-admissions data, medical insurance data, and much more. All of this constitutes a huge database in structured and unstructured data (both internal and external), that needs to be analysed in real-time for wide applications and scenarios.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">As healthcare analytics becomes critical, t<\/span><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">he healthcare industry in India currently faces shortage of analysts capable of applying analytics to a Big Data ecosystem in the health sector. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><span style=\"font-size: 13.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\">For the student of data science, social science and analytics, the healthcare industry offers an excellent scope to work in a dynamic environment of healthcare sector where analytics has a philanthropic element.<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 12.0pt; line-height: 150%;\"><strong><span style=\"font-size: 13pt; line-height: 150%; font-family: 'Times New Roman','serif';\">Suggested Read:<\/span><\/strong><\/p>\n<p><span style=\"font-size: 12.0pt; line-height: 150%; font-family: 'Times New Roman','serif';\"><a href=\"https:\/\/www.ibm.com\/smarterplanet\/global\/files\/the_value_of_analytics_in_healthcare.pdf\">IBM Executive Report &#8211; The value of analytics in healthcare<\/a><\/span><\/p>\n<p><!-- [if gte mso 9]&gt;--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The healthcare is yet another sector where analytics is applied in a Big Data ecosystem for valuable insights. Healthcare analytics not only offers internal insights for a business edge but also extends value across the entire health intelligence in the public health domain. Health analytics applies descriptive, predictive and prescriptive analytics for a wide range of applications in real-time.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[310,126,308,311,307,208,132,309,143],"class_list":["post-4941","post","type-post","status-publish","format-standard","hentry","category-data-analytics","tag-application","tag-define","tag-health-analytics","tag-health-intelligence","tag-healthcare-analytics","tag-overview","tag-spotlight","tag-type","tag-what-is"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spotlight on Healthcare Analytics: Trends &amp; Growth<\/title>\n<meta name=\"description\" content=\"Discover how healthcare analytics is transforming patient care and operations with real-time insights, predictive models, and big data applications.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ivyproschool.com\/blog\/spotlight-healthcare-analytics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spotlight on Healthcare Analytics: Trends &amp; 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