Data Analytics Solutions in Healthcare: Applications and Benefits

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Out of the many positive contributions data science and technology have made, the most remarkable is the wonders it has done for the healthcare industry. There is nothing more important than health, and anything that aids in improving people’s medical condition should be considered a Godsend, which in this case is data analytic solutions.  

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Let’s shine a much-needed light on how different data analytic solutions have played a significant role in transforming the healthcare industry for the better and how we should not just leverage these facilities but also be utterly grateful for them.  

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To begin with, let’s discuss the different use cases and applications of data analytic solutions in healthcare.  

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6 Applications of Data Analytics in Healthcare  

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‍Patient Care and Treatment

Data analytics have helped provide in-depth insight into a patient’s health and treatment. It also enables medical professionals to make accurate and timely decisions about the treatment plan.  

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One of the most impressive additions to medical technology is real-time alerts to healthcare providers, which results in improved decision-making processes.  

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In addition to this, big data analytics, a branch of data analytics that consists of greater volume and variety, aids in predicting outbreaks of illness, which has further enabled practitioners to plan for long-term health catastrophes. This prediction is made by analyzing large-scale data and identifying trends or patterns that may lead to a specific outbreak.  

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One of the best examples of this is the outbreak of the Coronavirus and how data analytics helped in tracking the new variants and taking preventive measures accordingly.

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Operational Efficiency and Resource Optimization

We know that when it comes to curing a disease or choosing the right treatment plan, the quicker, the better.

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This is where data science makes a heroic entry. Data analytics has improved operational efficiencies in several ways.  

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Many workflow processes have been streamlined due to the addition of powerful tool sets that provide timely and personalized treatments. The best part is that data analytic solutions not only provide better healthcare facilities but are quite cost-effective as well.

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This has helped practitioners make more fact-based and accurate decisions. Moreover, it provides meaningful insights about improving the productivity of pharmaceutical and medical services with the help of useful datasets.

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‍Risk Management

Thanks to the internet, all kinds of information is available at people’s fingertips. A person can only imagine the number of times they googled disease symptoms only to learn they are not accurately diagnosed.  

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However, thanks to Natural Language Processing (NLP), text mining will help analyze large amounts of data on the internet and understand the concept, relationship, and intent behind each text.  

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With the help of this, unstructured data (or misinformation) will be eradicated from the internet. This process is still in its infancy stage, and experts are taking necessary measures to improve it.  

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Healthcare Research and Development

Did you know that a drug is only released in the market after six to seven years of extensive research and countless A/B testing?

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All thanks to data analytic solutions.  

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It shouldn’t be surprising that data science plays a huge role in medical research. To be more specific, data science made its gracious contribution by spotting patterns of illness within large datasets and allowing researchers to learn more about different diseases and remedies.  

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Medical technology has also helped in the early detection of any medical condition, identification of any gap in care, highlighting any side effects of a drug, and increasing the accuracy of clinical trials.  

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In a nutshell, data analytic solutions have helped in researching what drugs have worked on people and making necessary improvements for those that didn’t work.

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Fraud Detection

With the help of machine learning algorithms and data analytics, you can now analyze large amounts of data that too from various sources. This makes it super convenient for healthcare professionals to detect if fraud is occurring and who is the source perpetrating it.  

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For example, data analytics can flag claims for services that are not legitimate. Data mining is an extensively used method to detect any nefarious activity in the medical sector.  

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Centers for Medicare & Medicaid Services (CMS), a federal agency focused on promoting health equity, faced substantial financial losses because of extensive fraud. CMS opted for an advanced data analytics system, Fraud Prevention System (FPS), which uses sophisticated algorithms and predictive analytics to analyze large volumes of claims data in real-time. The impact was significant to say the least: CMS was able to save an estimated $1.5 billion by preventing fraudulent payments  

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(Source: Government Accountability Office (GAO) Report on CMS FPS)

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Patient Follow-ups

Thanks to data analytical solutions, patient follow-ups have become a piece of cake.  

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Medical devices like biosensors, smart pills, and medical applications make monitoring a patient’s health in real-time easier. This further makes it easier for doctors to identify the state of their patients and decide when their next appointment should be held. This especially helps older and neurodivergent patients who may struggle to stay on top of scheduling doctor appointments. If patient follow-ups are automated and integrated with data analytics solutions, it will take a lot of stress off patients of such categories. Furthermore, they will become self-reliant, without the need for a second person handling all their appointments.  

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Benefits of Leveraging Data Analytic Solutions in the Healthcare

Using data analytics solutions for the healthcare sector comes with unique advantages.  

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For starters, it gives a competitive advantage. This means that data science enables marketers to understand the trend and demand of a drug and take necessary action to invest in that drug. Plus, Machine Learning (ML) can also help track the future sales of these drugs.  

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As mentioned earlier, you can also trust ML to automate tasks such as filling out forms. By doing so, hospitals and clinics can save time and reduce the risk of error.  

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Future of Data Analytic Solutions in the Healthcare Industry

When it comes to discussing the role of data analytic solutions in the healthcare industry, it’s safe to say that the future looks bright. As someone witnessing this revolution of technology, we should be prepared for the upcoming changes and embrace them wholeheartedly.  

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Advanced gadgets will be introduced to diagnose patients and keep track of their data (hint: something like the medical tricorder in Star Trek)  

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Speaking of which, the Viatom CheckMe Pro is a medical tricorder already being used in developed countries.  

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In the future, microscopes will become even more advanced, and sensors will be able to detect any abnormalities in the DNA.  

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Advanced analytical dashboards and monitor systems will be introduced that will collect data quicker and enable doctors and medical professionals to take preventive measures quicker.  

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Wrapping Up ‍

Data analytics solutions are here to transform the healthcare industry for good, and it is high time that we put all our faith in technological advancements and pray for more accurate and helpful gadgets that’ll help people live longer and healthier.  

Data Pilot has also partnered with clients of the healthcare industry to create a central structured data repository, leading to enhanced patient engagement and improved patient insights.  

Are you a player in the healthcare industry looking to maximize revenue? Well, you cannot oversee the importance of data analytics, and that’s exactly where we come in!

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