The healthcare industry is experiencing a new transformation and focus on improving clinical efficiency, quality of care and affordability. In addition to traditional healthcare information management systems, data is now available from various sources like unstructured text documents, medical devices, and wearables.
- This new age of healthcare analytics is dominated by IoT, predictive analysis, and machine learning.
- IoT enabled devices like fitness bands, blood pressure, and heart rate monitoring cuffs, glucometers, etc., are now being used to provide personalized healthcare.
- Healthcare institutions are refining services like patient care, hospital administration, chronic disease management, etc., by using predictive analysis.
Summarizing data analytics scenario in Healthcare
According to a recent report by Oracle, the healthcare sector has about 50 petabytes of data which is expected to increase to 25K petabytes by 2025. The United States alone produces about 1.2 billion clinical documents every year, a vast ocean of data to be analyzed.
Healthcare organizations are now unleashing the potential of this large volume of data to gain insights and improve efficiencies. The Global data analytics market in healthcare is forecasted to increase at a compound annual growth rate of 17.7% through 2026, exceeding 45 billion US dollars.
The illustration below, from GE Healthcare, summarizes the current state of healthcare analytics.
How BIRD supports healthcare analytics
BIRD provides a powerful full-stack data management and augmented business intelligence solution. Users can now easily model, analyze, and visualize a vast amount of data coming from unlimited sources, to instantly get answers needed to make smart, quick business decisions. BIRD provides alerts required on key performance indicators such as re-admission rates, reimbursement times, claims, and fraud, etc.
Optimize operations
- Amend the patient to staff ratio to provide better patient care, promote patient safety and improve efficiency
- Monitor and upgrade response times for emergency cares and/or intensive care units.
- Troubleshoot discharging process to improve and accelerate it.
Fraud detection
- Inspect patient files and bills to detect possible anomalies such as overutilization of resources in short time periods.
- Identify twinned prescriptions for the same patient in different locations.
- Get real-time alerts to investigate before payment is made.
Reduce Re-admissions
- Find reasons behind high re-admission rates by analyzing data using descriptive and predictive analysis.
- Identify high-risk patients by analyzing their clinical, social, wearable, and/or historical data.
- Address these patients’ appropriate hospital stays by coordinating with health care providers.
Meet compliance standards
- Monitor overall performance by comparing it to peers in other areas.
- Compare standards through various hierarchies like divisions, regions, groups, and areas.
- Identify the number of facilities below the eligibility criteria of compliance standards.
Key benefits with BIRD
Eliminate data silos
Use our connectors to integrate your data one place
Predictive insights
Use multiple ML models for forecasting, prediction and text analytics
Self-service
Avail real time analytics with advanced visualizations
Big Data architecture
Event driven architecture to ingest and process real-time data
Modern ELT
Use high performance and extensive data preparation features
Universal data model
Create single data models with multiple fact tables
Augmented analytics through BIRD
Avail the benefits of combining machine learning and natural language generation to get automated search results and required insights from your data. BIRD finds these insights through its augmented analytics approach and its ML models like linear regression, clustering, classification, forecasting, random forest, text analytics, density-based clustering, etc.
BIRD comes with an in-built library of analytical functions and algorithms, running in the background, to analyze data and predict business outcomes. With these predictions, users can simulate impacts from their decision-making, mitigating risks. Enable your business to transit from:
Take Action from Insights
Leverage BIRD’s automated insights. BIRD uses artificial intelligence and machine learning techniques to automatically transfer raw data into recommended actions. It delivers personalized in-context information and helps save time from analysis to action.
The powerful and collaborative on-the go storyboards display real-time insights seamlessly, regardless of user location, ensuring timely business decisions.