Business Analytics is used by companies committed to data-driven decision making. Health analytics encompasses the technologies and skills used to deliver business, clinical and programmatic insights. Advanced analytics can deliver the crucial insights necessary to propel a business toward growth and success.
Business Analytics is used by companies committed to data-driven decision making. Health analytics encompasses the technologies and skills used to deliver business, clinical and programmatic insights. Advanced analytics can deliver the crucial insights necessary to propel a business toward growth and success.
Business Analytics is used by companies committed to data-driven decision making. Health analytics encompasses the technologies and skills used to deliver business, clinical and programmatic insights. Advanced analytics can deliver the crucial insights necessary to propel a business toward growth and success.
Business analytics (BA) is the practice of iterative, methodical exploration of an
organizations data with emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision making.
Abbreviated as BA, business analytics is the combination of skills, technologies, applications and processes used by organizations to gain insight in to their business based on data and statistics to drive business planning. Business analytics is used to evaluate organization-wide operations, and can be implemented in any department from sales to product development to customer service. Business analytics solutions typically use use data, statistical and quantitative analysis and fact-based data to measure past performance to guide an organization's business planning.
SAS (Statistical Analysis System)
Health analytics encompasses the technologies and skills used to deliver business, clinical and programmatic insights into the complex interdependencies that drive medical outcomes, costs and oversight. Through modeling, optimization, predictive analytics and business intelligence, organizations can gain insights to strengthen financial and budgetary performance, deepen consumer-centric relationships and improve the way health care is conceived and delivered for better outcomes across the entire spectrum of health industries: Health analytics for life sciences Diminished pipelines. Escalating development costs. A changing health care market. After years of therapeutic and commercial successes, life sciences companies are grappling with these new realities and searching for ways to survive and thrive in an evolving health care economy. Advanced analytics can deliver the crucial insights necessary to propel a business toward growth and success by: Getting new medications to patients faster. Providing regulatory bodies with evidence of drug safety and efficacy. Better understanding disease states. Improving manufacturing processes and sales and marketing efforts. Identifying and developing the next generation of health care treatments. Identifying optimal strategies to commercialize treatments. By providing the most advanced portfolio of analytical software and services in the world, SAS has become the trusted leader in health analytics. That's why, for more than three decades, leading life sciences companies have relied on SAS Analytics for drug discovery, clinical trials, sales and marketing, and manufacturing. Health analytics for health insurance In the midst of economic instability and health care reform, health plans face unprecedented challenges. As the market becomes increasingly complex, consumer-centered and regulated, critical questions surrounding future growth, profitability and sustainability abound. And answering them will require new data sources, more complex analysis and fact-based decision making at an unprecedented level. Advanced data management and predictive analytics enable data-driven decisions that will allow health plans to adapt to new market realities by fully understanding the new dynamics and applying them to their unique portfolios of business from predicting and managing shifts in the customer base, to transitioning from a wholesale to a consumer marketplace, to bending the cost curve through health and condition management, to detecting and preventing fraud, and beyond. SAS has in-depth domain knowledge and experience from more than three decades of delivering health analytics to the health insurer industry for aggressive fraud detection and prevention, health and condition management for improved outcomes, actuarial analysis for improved financial performance and new data- based methods for customer retention. With SAS Analytics, health insurers can gain real value and cost savings and demonstrate that value to those purchasing benefits and to government regulators. Health analytics for health care providers In the face of ever-rising health care costs, aging patient populations, the impact both actual and potential of health care reform, and unforeseen complexities, health care providers have never had a greater need to derive trusted insights from data. From increasing patient safety, to improving the management and quality of care, to becoming more financially stable through efficiency and cost management, the use of advanced analytics is critical. For more than three decades, health care providers have used SAS Analytics to: Measure, track and improve performance more effectively and efficiently. Improve health outcomes and patient safety by delivering evidence-based improvements in quality of care. Save millions of dollars through accurate forecasting and real-time access to information.
As we see more shared risk between providers and payers, SAS can be used to manage these new risk arrangements. Public health analytics While the cost to government of supporting a national health care system can be crippling, it can also result in health care modernization. With the goal of improving health care while lowering costs, policy makers are funding programs that encourage the sharing of data and adoption of electronic health records (EHRs). Governmental and non-governmental organizations collect and generate huge amounts of health care data. Clinical data combined with administrative data can be used to demonstrate if the money being spent to improve population health is actually working. And, as digital data streams grow, analytics will become more critical to manage costs and use scarce resources wisely. Organizations dedicated to public health are using SAS Analytics and business intelligence to support national health policy and budgetary decisions, perform regulatory and oversight activities, and fund and conduct health care research. But most important, SAS is helping implement better and more cost-effective health care.
Analytics For Health care
Overview
Analytics at work in healthcare Healthcare systems around the world are facing aging populations, chronic illness and revolutionarybut expensivetreatments, which all put pressure on healthcare payers and healthcare providers. The massive amounts of data and ever expanding treatment options are making it difficult to balance patient care with controlling operational costs. Business analytics solutions from IBM help healthcare plans and providers address challenges in three key areas: Building more efficient, sustainable healthcare systems Collaborating in treatment decision-making to improve patient care and outcomes Increasing healthcare access while providing greater value to payers
Solutions IBM Business Analytics solutions for Healthcare
Healthcare providers IBM Business Analytics software helps hospitals, clinics and physician practices improve their financial status and patient care delivery models by: Driving process efficiencies and enabling better revenue cycle management and financial performance management Increasing patient access to services Improving the quality of patient care and outcomes by using predictive analytics to identify the best course of treatment
Healthcare plans IBM Business Analytics software provides health plans and insurers with systematic planning, analytics, reporting and predictive capabilities that: Drive operational efficiencies by gaining greater insight into claims processes and administrative expenses Improve member services while meeting regulatory and compliance demands Optimize provider, product and portfolio performance and reduce risk
Oracle Health Sciences Pharmacovigilance and Risk Management Solutions
Oracle Health Sciences case management and reporting, business analytics and intelligence, and signal detection and management solutions support regulatory compliance while reducing costs. Overview Automate and streamline entire drug development safety processes Identify safety problems and manage risk across product lifecycle Enable flexible deployment with on-premise, cloud, or hybrid options Integrated applications unify the user experience Identify and analyze safety signals from ICSR and clinical data Benefits Simplify processes, reduce cycle times, and make in-stream decisions Enhance the user experience with people- and process-centric solutions Enable collaborative workflows within and across organizations
API Heath care Make Better Decisions Thanks to Real-Time Information. Outdated information can make it difficult to proactively manage overtime and more efficiently control labor costs. Designed specifically for a 24/7 healthcare environment, our integrated Healthcare Business Analytics Solution delivers deep insight into all areas, promoting better efficiency and more fiscally sound labor decisions. Our solution doesnt just point out problems; it shows how to fix them. Now more than ever before, creating a link between the clinical and financial sides of the healthcare business is essential to delivering quality patient care enterprise- wide.
A Big Picture View of the Workforce.
When it comes to healthcare staffing, resource optimization is the goal. Its costly to deploy more resources than necessary, and its detrimental to quality care goals to not have the right resources in place. Integrated into the workforce management suite, our business analytics tools provide a broad real-time view of labor resources across every department, enabling managers to make instant adjustments. Optimizing for excellence begins with effective distribution of labor resources.
Controlling Overtime Keeps the Clinical and Financial Sides of the Business in Sync.
If left unchecked, overtime can become one of the largest expenses a health system will have. While not completely unavoidable, reining in unnecessary overtime is critical to bringing down expenses and ensuring the most effective use of labor resources. Our innovative business analytics technology allows for a complete view of the labor landscape that includes actual cost in dollars as well as hours. In addition it considers actual time worked and future schedules, alerting managers of preventable overtime situations and incidental overtime occurrences.
Improve Performance By Keeping Productivity Elevated.
Overtime isnt the only barrier to aligning clinical and financial goals. Productivity challenges also play a significant role in preventing a fully optimized workforce. Integrated time and attendance productivity data allows for the easy evaluation of staff efficiencies in relation to work completed. Understanding where to improve efficiencies is important to keeping performance elevated and quality high.
5 ways hospitals can use data analytics
When it comes to healthcare analytics, hospitals and health systems can benefit most from the information if they move towards understanding the analytic discoveries, rather than just focusing on the straight facts. George Zachariah, a consultant at Dynamics Research Corporation in Andover, Mass., explains the top five ways hospital systems can better use health analytics in order to get the most out of the information.
1. Use analytics to help cut down on administrative costs.
To reduce administrative costs its really one of the biggest challenges we face in the industry, said Zachariah. One-fourth of all healthcare budget expenses are going to administrative costs, and that is not a surprise because you need human resources in order to perform.
Zachariah suggests that hospital systems begin to better utilize and exchange the information they already have by making sure their medical codes are properly used, and thus, the correct reimbursements are received.
Right now, with electronic medical records, you can see that automated coding can significantly enhance how we can turn healthcare encounters into cash flow by decreasing administrative costs, he said.
2. Use analytics for clinical decision support.
Zachariah said that having all medical tests, lab reports and prescribed medications for patients on one electronic dashboard can significantly improve the way clinicians make decisions about their patients while at the same time cutting costs for the organization.
If all the important information is on one electronic dashboard, clinicians can easily see what needs to get done for a patient, and what has already been done. They can then make clinical decisions right on the spot, he said. In addition, clinicians will not be double-prescribing patients certain medications due to the lack of information they have on the patient.
3. Cut down on fraud and abuse.
Zachariah said that with such a significant amount of money lost in the healthcare industry due to fraud and abuse, its important for organizations to use analytics for insight into patient information and what physicians are doing for their patients.
Analytics can track fraudulent and incorrect payments, as well as the history of an individual patient, he said. However, its not just about the analytic tool itself but understanding the tool and how to use it to get the right answers.
4. Use analytics for better care coordination.
Zachariah believes that the use of healthcare analytics in the next 10 years is going to be extremely important for hospital systems. Even within the same hospital systems, it can be very disjointed, he said. I think we need to use analytics to help with patient handoff, both within systems and between all types of healthcare organizations across the country. Historically, within many organizations different specialties just didnt communicate to one another about a patient, and I think we can really work to have all records reachable across the country.
5. Use analytics for improved patient wellness. Analytics can help healthcare organizations remind patients to keep up with a healthy lifestyle, as well as keep track of where a patient stands in regard to their lifestyle choices, said Zackariah.
Analytics can be used to provide information on ways a certain patient can modify his or her lifestyle, he said. This makes a patients health a huge priority and I dont think people will mind be reminded to take care of themselves.