Data is the new oil. But the million dollar question is what are healthcare organisations doing with their data? In a survey conducted by Sage Growth Partners, almost 100 healthcare executives across the world were asked questions on their data. Almost 80% believed that high quality data was key to efficient decision making. But only 20% completely trusted their data. Almost 50% cited poor data quality and lack of interoperability as barriers to good quality data.
In a previous article that was also published in the CRS Mandate, I had talked about Data Driven Approach to Preventive care, and how it can change the way care is delivered today, specially with the use of Smart Phones, the development of the health ecosystem and use of data. Today we have the ability to collect data and analyse it to help understand what we can do to identify key disease markers and identifiers. While this has been available for a while, there is a gap in keeping track of parameters, which robs of valuable longitudinal data. Most patient records are locked up with various hospitals, labs, or with physicians. Though there is a move to have interoperable data that can leverage the national health stack, to convert the data into information that can be tracked longitudinally.
Most healthcare organisations leverage their data for the following areas
- Improved patient experience- Mostly CRM, Patient relationships, Appointments, billing etc.
- Clinical Outcomes- Improved diagnosis, decision support,
- Operational Efficiency- Reducing errors, cost optimization
- Clinical research- Ligand research, target molecule optimization
- New Care Models- Digital Models for care, telemedicine, consultation, genomic research
But as clearly evident from the survey cited about a lot of that has to do with data quality. Lets not forget most of our data strategies were built for storage and not analytics, or Big Data. I had expressed similar views on this topic in the 5th episode of the Healthcare India Podcast. You can hear the recording below.
I would love to hear your views on the topic. Do write in with your thoughts and I will be happy to discuss them.