A well-known market intelligence company, Infiniti Research, has announced the completion of their latest article on roadblocks to building a flawless healthcare business intelligence strategy. In this blog, experts at Infiniti explore the key obstacles that are holding back providers from implementing a successful healthcare business intelligence program and explains how to overcome them.
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Roadblocks to building healthcare business intelligence. (Graphic: Business Wire)
The healthcare sector is moving into an era of hyper-personalization. The escalating growth in the industry is driven by factors including growing populations, the evolution of developing countries, increase in labor costs, and progress in the medical field. Although the quality of care and patient satisfaction largely depends on the relationship between patients and physicians, it is also bound inevitably by technology and advanced capabilities such as healthcare business intelligence. According to experts at Infiniti Research, one of the major flaws in attempts to enhance business operations in healthcare is the lack of an effective healthcare business intelligence strategy.
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Roadblocks to building healthcare business intelligence
Access to data
Large healthcare organizations usually have a greater number of EHR systems that are in use simultaneously. As every EHR has its own backend database, pulling information from all of them could prove to be a tedious and time-consuming process. During such events, healthcare providers can turn to either an EHR conversion company to bring disparate data together and then leave it to the provider’s healthcare business intelligence team or leave the entire process of collecting information to a healthcare business intelligence company.
While the volume and value of healthcare data are breaking new ground, many payers and providers are struggling to keep up with the capabilities needed to support and deliver the basics. Get in touch with our experts to learn how you can up your game with a better healthcare business intelligence strategy.
High data sensitivity
Healthcare companies not only deal with financial and personal information of their patients’ but also record sensitive patient and clinical data regulated by the strict HIPAA rules. They require extra security while handling. When it comes to effectively managing data, healthcare providers must think through the strategy of managing access to confidential information, distributing roles, and ensure data security across all sources and data warehouses.
Healthcare data is often derived from various sources such as HER, ADT, and ERP. Also, this data is used by different departments in healthcare organizations including radiology, cardiology, pharmacy, and several others. When all collected data finally gets processed, healthcare providers find a lot of data in their analytical system hasn’t been stored as structured values. Instead, the healthcare business intelligence team faces tons of unstructured text information. Mapping and structuring them across systems to extract valuable insights is a resource-exhausting and time-intensive process.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us