Couldn’t have said it better myself!
The U.S. healthcare industry has reached the $3 trillion mark, driving the great Healthcare Reform debate as the annual healthcare spending rises to worrying figures of $9000 per capita. Can data analytics help?
Big data analytics is already boosting retail revenues and improving law enforcement, but the healthcare industry is yet to embrace the revolutionary technology trend along the same lines despite experiencing the promising rewards.
Analysts at the McKinsey Global Institute believe the future of data analytics in healthcare is more than healthy. A recent McKinsey research study finds predictive analytics could account for up to 17 percent, or around $450 billion in the nation’s reduced healthcare spending. Healthcare analytics essentially enables faster identification of high-risk patients, more effective interventions and reduced patient readmission rates. And although concerns surrounding patient confidentiality and privacy have stifles healthcare data analytics adoption, digitization of patient records and application of big…
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