Big data has already become a focal point for professionals in a wide variety of industries. One place where it promises to make a big impact is in healthcare.
Big data and analytics are becoming critical factors in everything from clinical trials to everyday tasks for professionals in the healthcare industry. Let’s examine.
The process of implementing a data analytics solution into an organization can be time-consuming and costly. Once an analytics platform is in place, employees must learn to use the technology. However, it seems the largest stumbling block in the data integration process is not so easily defined.
A surprising development arose from the 2019 Big Data and AI Executive Survey conducted by NewVantage Partners. While many organizations are increasing their investments in analytics, there are many stumbling blocks. And the biggest challenge to analytics success: people.
According to an Ernst & Young survey, more than 90% of healthcare executives were planning to undertake at least one technical adoption project in 2018, with the majority of initiatives directly related to making better use of data. As a result, providers will be exposed to a number of different sales strategies — and they will need to develop the business savvy to choose vendor partnerships that will lead to the best possible outcome for their organization.
Choosing a healthcare analytics tool is a major decision with long-term implications for the success of any provider group. Every health IT selection process must be considered as one part of an overall business strategy that combines input from clinical, financial, executive, and administrative stakeholders. What are the factors that providers need to consider as they evaluate software vendors? Let’s take a look.
B2B payment structures have been thrown into flux by recent developments in transaction technology. Most notably, blockchain algorithms offer a safe and efficient way of trading goods and their recent rise in popularity speaks to their viability in this space going forward.
Blockchain algorithms supplant the role of a central bank or government backing to support the virtual coins that they create. This technology has been a rapidly expanding field for major corporations, especially B2B distributors. A 2018 study found 82 of the Fortune 100 companies have begun researching or investing money into blockchain technology. Mastercard, Visa, and J.P. Morgan have launched blockchain networks to ease B2B transactions, especially cross-border payments. With the technology becoming more available, let’s dive into the benefits of blockchain technology for B2B distributors.
We are all unique individuals. But despite our differences, we share one thing in common: we are all patients. At every stage in our lives, we place our trust in our healthcare system to be there for us to provide safe and quality care. But have you ever experienced a time where you received anything but that?
Many colleges and universities are focused on using data and analytics to help students succeed. But what does that look like in practice?
The answer is different depending on the schools. One thing they have in common, though, is that they rely on data that shows them which classes students are struggling in the most. Here are a few ways institutions of higher education have found success intervening on behalf of students who need help.
Over my last several blog posts on artificial intelligence, I’ve taken a look at the massive upside for distributors that the technology promises. But with these steps forward in business efficiency comes huge steps back in labor and employment.
The robotics and cognitive automation spoken of by Sergi Mesquida will be the largest contributor to job loss for distributors in the future. This label encompasses the robots used in car manufacturing, telemarketing, and the driverless cars threatening the trucking industry. These concerns are existential for many areas of the country and have been garnering serious attention in the upcoming debate for the 2020 election. Let’s take a look at some of these concerns.
Last week I joined my colleagues in Orlando, Florida at HIMSS19. HIMSS19 is the largest healthcare information and technology event in the world, and comparing this event to anything back home in the Netherlands is almost impossible. The only thing that comes close in size to the Orange County Convention Center is the entire “Jaarbeurs,” a convention center of 100,000 square meters in Utrecht.
What did I think of my first visit to HIMSS? Here’s a look.
Healthcare organizations are making significant investments in data analytics – an estimated $11 billion last year, forecast to surpass $30 billion by 2022. But spending does not necessarily bring success. Healthcare organizations need to put thoughtful, collaborative work into laying the foundation for analytics success.
There are three crucial areas to address before any healthcare analytics project starts rolling down the tracks:
- User community perspectives, opportunities, and imperatives
- Data governance
- Business rules
Let’s take a closer look at each one.
Tweet: 3 Steps Toward Success in Healthcare Analytics
Implementing an analytics solution can be a game changer for your organization. It allows you to turn your data into information that employees in all areas can take advantage of.
Tweet: How to motivate your team to get analytics results
However, despite all the promise of analytics, in practicality, implementation is often met with mixed results (a lot of failures) and a loss of momentum. How can you get your team motivated to get the results you’re looking for? Let’s examine. (more…)