The healthcare industry is undergoing a major transformation due to the increasing acceptance of big data technologies and advanced analytics. Today’s medical data includes the data collected from different hospitals from many regional or geographical locations. This demands the use of new tools that can help data users and data providers to cooperate with each other. With so many innovations and progressive technologies making their way into healthcare, the way forward looks promising for healthcare companies. In this blog, Quantzig has listed the top big data trends in the healthcare industry that you should know about.
According to the big data experts at Quantzig, “The use of big data in healthcare is helping players in the healthcare industry to advance patient outcomes while simultaneously reducing cost.”
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Top big data trends in the healthcare industry
- Patient-centric care: Today, many healthcare companies are focussing on refining the quality of patient care. More doctors are discovering incentives in providing individual patient-related data. Today, the data quality relates to the quality of patient care. This is helpful for the patients since it is improving the quality of healthcare services that are being offered. It has also lowered health care costs and provided support for payment structures. This shift to value-based payments matches with the focus on patient-centric care and makes it mandatory for healthcare professionals and health insurers to work together to deliver personal care that is effective, brings about transparency in billing, and boost patient satisfaction.
Healthcare IoT: For healthcare companies, IoT devices help
track patient behavior, ranging from glucose levels to blood pressure
to heart functions. Most of this data is usually unstructured. Smart
devices that connect with each other and utilize machine learning
could alter this process; possibly replacing a doctor’s visit with a
phone call from a nurse.
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- Fraud reduction: Diminishing fraud, wastage, and abuse is another significant application of big data in healthcare. Using advanced analytical tools like predictive analytics, healthcare companies can avoid a large number of unfair and fraudulent practices and save massive amounts of money. The key to finding fraud is by investigating large unstructured datasets of historical claims and to use machine learning algorithms to spot anomalies and patterns. Healthcare organizations can examine these patterns and simply find anomalies.
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Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.