People considering a career in the medical field may be asking what is analytics in healthcare? A multi-step approach allows medical facilities to cut costs while providing more personalized care to patients. Digital management of patient records and insurance claims makes analysis easier than ever before. Researchers can sort data by various population groups, helping them to understand trends and make better predictions in regard to health, wellness and illness risks. The overall goal is to make significant improvements throughout the nation and even globally.
In the healthcare analytics field, workers must be completely comfortable working with enormous amounts of data. Analysts with organizations such as such as Health Catalyst refer to these sets of information as “big data.” They ask questions for which doctors and other healthcare employees want answers to, and they then track and manipulate the data to find solutions.
In addition, U.S. consumers are demanding more affordable care and protesting skyrocketing insurance rates. They are justifiably alarmed when they become aware of statistics like the global rate for maternal mortality, in which the United States has a dismal ranking among so-called developed countries. It ranks behind the United Kingdom, Australia, Saudi Arabia, Kuwait, Switzerland, Spain and many other countries in this regard.
People who have been hospitalized and look over their invoices become angry when they see how much they are charged for seemingly trivial items. One aspirin or ibuprofen tablet can cost more than $20. One diaper for an infant might cost $90. This seems outrageous.
By using an analytical approach, healthcare facilities can see where money is being wasted and where costs can be reduced without decreasing the quality of care. The entire system may be able to restructure the way insurance reimbursement is handled so that prices for inexpensive items are not drastically inflated.
A Goal for Better, More Affordable Care
Doctors, nurses and other healthcare employees want to help patients, but they are forced to deal with the limitations of their work settings. Everyone in this field hopes that the increasing use of data analysis will allow for better and more personalized care that doesn’t send patients into medical bankruptcy.