More and more, healthcare is becoming a consumer-driven environment. Thanks to provisions found in the Affordable Care Act (ACA), the industry is shifting from volume-based to value-based models of reimbursement. And with the establishment of the health exchanges, patients are being given even more choices when it comes to selecting coverage that most suits their budget and needs. Additionally, websites offering ratings of facilities and individual physicians are giving healthcare a consumer feel to match other industries.
Recently, Health Management Technology hosted a roundtable discussion featuring David Fletcher, Streamline’s director of solution development, as part of the publication’s newly launched Exclusive Conference Call Series. Centered on Big Data Analytics, the conversation also featured Dr. Stephen Ober, chief medical officer of Emdeon, and Bimal Naik, chief client officer of CitiusTech.
Healthcare organizations have been working with large amounts of data for many years, and while the term big data is generating a buzz within the industry, the concept is far from new. Due to the rise in the prevalence and variety of healthcare IT systems put to use in hospitals, however, the sheer quantity of information being produced is reaching new heights.
Big data is not a new concept in healthcare analytics, but as we all know, collecting that information is only the first step. For organizations to derive true value out of their data, they need the ability to analyze it and make it actionable.