Data Analytics: The Dynamic Driving Force Shaping the Future of the Healthcare Sector

Did you know the healthcare industry generates approximately 30% of the world’s data volume, and is anticipated to increase to 36% by 2025, growing 6% faster than manufacturing, 10% faster than financial services, and 11% faster than the media & entertainment industries?

Wow, that’s a lot. There is no doubt that healthcare generates a great deal of data, but it is difficult to extract value from it for better patient outcomes, value-based care, telemedicine, interoperability, and other operational efficiencies. That’s where data analytics comes in.

Data Analytics in Healthcare

Healthcare professionals use data analytics to automate data collection, processing, and analysis to gain better insights and make informed decisions. It has significant implications for the healthcare sector, including lower medical costs, tailored treatments, patient behavior analytics, and pharmaceuticals. Some benefits of using data in healthcare:

  • Preventive Care: Using big data analytics, healthcare providers can predict a patient’s risk of developing a disease based on their lifestyle and behavior. As a result, they can detect symptoms of severe illness much faster and treat the disease more effectively.
  • Better health outcomes: Patient care improvements lead to better health outcomes. With the help of data analytics, healthcare providers can predict future outcomes, allowing them to formulate the best treatment for their patients. It is beneficial not only in serious cases such as diabetes mellitus but also in cases involving noncommunicable diseases and mental health issues.
  • Real-time monitoring and telemedicine: In recent years, telemedicine and the Internet of Things (IoT) have emerged as two of the most popular trends in healthcare. Patients can receive effective care without having to visit a healthcare facility thanks to the use of big data analytics.
  • Better patient care: When healthcare providers analyze patient data, they can see which treatments produce the best results. This will enable them to treat patients more effectively, particularly those suffering from severe conditions such as chronic kidney disease, multiple sclerosis, cardiovascular issues, and so on.
  • Electronic record-keeping: Electronic medical record storage is more efficient than paper records because it eliminates data duplication and boosts productivity. It also allows multiple healthcare experts to access the same medical records without requiring extensive paperwork.
  • Cost reduction: By using data to improve patient care, healthcare organizations can function more efficiently, saving hospitals and treatment costs.

The first step to efficient data analysis is comprehensive data management. The term “healthcare data management” encompasses both the organization and analysis of medical data for optimal patient care.

Every patient generates a vast amount of complicated data, including real-time recorded vital signs and electronic health records (EHRs), that must be stored, organized, and analyzed to deliver quality healthcare. In addition, the sector is subject to stringent regulations mandating the protection and storage of data for healthcare facilities. This raises a very critical question: Why do healthcare providers find it difficult to manage their data?

  • Storage: Many organizations are unable to control the cost and impact of on-site data centers as data volumes continue to grow. Not only is scaling expensive but creating and maintaining data silos across multiple departments is a challenge. A popular solution that saves money and is truly reliable is cloud storage. It offers faster recovery, cost reduction and easier scalability.
  • Security: Data security is one of the most pressing issues for healthcare organizations. 90% of healthcare organizations suffer data breaches due to security breaches. Patient health data confidentiality is ensured through transmission security protocols, audits, authentication protocols, and chain of custody.
  • Regulatory Compliance: Healthcare organizations must ensure the proper handling of patient data for two critical reasons:
    • To comply with regulations and privacy laws.
    • To build trust and understanding among patients

Organizations must be very careful when selecting partners or platforms to manage health data to ensure they understand the importance of HIPAA compliance.

Healthcare organizations can manage these concerns by partnering with Data Dynamics, which offers “one source of truth” for information regarding a patient’s well-being. Data Dynamics’ Unified Unstructured Data Management Platform enables organizations to structure their unstructured data and extract meaningful insights. It enables streamlined and secure management of healthcare data, effective data classification, and utmost compliance in safeguarding patient data.

The platform is proven in over 28 Fortune 100 organizations and comprises four modules- Data Analytics, Mobility, Security, and Compliance. It uses a blend of automation, AI, ML, and blockchain technologies and scales to meet the requirements of global enterprise workloads. With Data Dynamics, enterprise customers can eliminate the use of individual point solutions with siloed data views. Instead, they can utilize a single software platform to structure their unstructured data, unlock data-driven insights, secure data, ensure compliance and governance and drive cloud data management. Ultimately, the company’s vision is to help enterprises achieve data democratization so that users, no matter their technical background, can instantly access, understand, and derive maximum insights from unstructured data sprawls.

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