The future of health analytics

Executive Summary

Technology advances have provided health care organizations with myriad disparate systems from which to obtain information. From revenue cycle systems and supply chain management to human resource systems and data warehouses, the volume of available data – and the need to capture and process it – has exploded in recent years. Each new wave of innovation claims to simplify or streamline a process that the previous wave had supposedly made efficient or effective. Subsequently, there are so many versions of the truth it’s hard to tell which one is right.

As data volume has grown exponentially, consolidation within the health care industry has exacerbated access and availability problems by creating organizations with multiple clinical, financial, and revenue cycle systems and as many reporting and analytic tools. Concurrently, government compliance and coding requirements have contributed to make this a “perfect storm” for analytics in the health care industry.

360° insights for health care organizations

To weather the storm, health care organizations require analytics to understand the threats and challenges they face and to identify opportunities to improve and expand. Specifically, organizations need to understand four key analytic domains:

• Market Domain
  
• Clinical Domain
  
• Operational Domain
  
• Financial Domain