What has changed? Why Big Data?

Big Data/Predictive Analytics

What has changed? Why Big Data? Fiscal concerns, perhaps more than any other factor, are driving the demand for big-data applications. After more than 20 years of steady increases, health-care expenses now represent 17.6 percent of GDP—nearly $600 billion more than the expected benchmark for a nation of the United States’s size and wealth. To discourage overutilization, many payors have shifted from fee-for-service compensation, which rewards physicians for treatment volume, to risk-sharing arrangements that prioritize outcomes. Under the new schemes, when treatments deliver the desired results, provider compensation may be less than before.

Payors are also entering similar agreements with pharmaceutical companies and basing reimbursement on a drug’s ability to improve patient health. In this new environment, health-care stakeholders have greater incentives to compile and exchange information.

While health-care costs may be paramount in big data’s rise, clinical trends also play a role. Physicians have traditionally used their judgment when making treatment decisions, but in the last few years there has been a move toward evidence-based medicine, which involves systematically reviewing clinical data and making treatment decisions based on the best available information. Aggr egating individual data sets into big-data algorithms often provides the most robust evidence, since nuances in subpopulations (such as the presence of patients with gluten allergies) may be so rare that they are not readily apparent in small samples.

Healthcare organizations already have plunged into big-data analytics, with impressive results.At HealthCursor with our partner ENLIGHTIKS, we use multiple technologies and techniques, including data visualization software that provides a view of highly complex and large datasets revealing underlying and previously unknown patterns and interactions between patients and providers.

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Strategy Insights

If my healthcare data doesn’t reside in a cloud, what will BIG Data analytics do for me? The big data revolution is here, on an aggressive growth path, and the patient might truly be the biggest beneficiary of next wave. But hey! Where is that data?

  1. More than 65% of data across the globe stay non-digitized.
  2. 68% of digitized data isn’t integrated with channels or inter-operable systems.
  3. 99% problem in delivering effective healthcare is in bad data, old data and No data.

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