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[REPORT] Why healthcare providers need to prioritize business intelligence and analytics

How important are analytics and data to your business as a healthcare provider? If you arent making data analysis a priority, now may be the time to sta...

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|Oct 16|magazine7 min read

How important are analytics and data to your business as a healthcare provider? If you aren’t making data analysis a priority, now may be the time to start. According to a new report from HIMSS Analytics, the savvy use of data can be critical to becoming a more efficient and cost-conscious organization.

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The study, performed by HIMSS Analytics on behalf of visual analytics solutions provider Qlik, surveyed more than 400 director-level and C-level executives in the healthcare industry on the implementation, usage and challenges of business intelligence (BI) and analytics platforms. What the study found was that those who use BI and analytics platforms regularly have greater internal transparency, and are able to take advantage of that transparency to recognize where improvements can be made within the organization to create a better environment with a higher level of patient satisfaction. Among healthcare providers that identified as early adopters of analytics platforms:

48 percent reported being able to make decisions more quickly and easily;

47 percent reported that use of analytics systems created cost savings, and;

56 percent saw an improvement in overall patient care.

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“Utilizing a modern and contemporary BI and analytics platform provides real-time data that is simple for self-service use, as it removes the guess work by the end-user and increases adoption,” said John Hoyt, executive vice president HIMSS Analytics, in a press release discussing the study. “With 42 percent of those surveyed reporting that a hiccup in leveraging BI and analytics platforms is end-user adoption, it is imperative that healthcare organizations implement a system that is user-centric and has the ability to provide quick access, analysis and dissemination of information. This enables healthcare organization executives to make operational improvements, improving overall patient care and efficiency.”

At the end of the day efficiency is vital to any operation, including healthcare providers. Cost savings translate into funds that can be used toward expansions, new technology, research and staff. When you have better control over where you can place your funding, you are one step closer to having the ideal program. This study suggests that the right analytics tools can help you get there that much faster.

[SOURCE: Businesswire]