There is no doubt that big data is now in the limelight. Companies in various industries have come to realize how big data can potentially impact them in so many ways. The healthcare sector, in particular, has many exciting things to look forward to in terms of how big data is making the industry better. Below are some proofs of how big data is now transforming healthcare.
Managing Big Data with Technology
Big data can be found everywhere and is continuously growing. You can find data in hospitals, clinics, government institutions, insurance companies and more. The problem therein lies in the fact that it can be difficult to incorporate all these available fragmented data so that healthcare providers can see a more comprehensive view of the situation.
One of the solutions being prescribed to manage the continuous growth of all this data is the use of innovative technology. It is therefore not surprising to learn that venture capitalists have become very interested in investing in digital health innovations. An article from Forbes.com states that, according to Rock Health, nearly $700 million has already been invested by venture capitalists in digital start-ups during the first quarter of the year.
Putting all this data together is essential because it gives healthcare practitioners relevant information that can lead to new discoveries on preventing and treating diseases that will impact the future. It also improves the providers’ ability to recognize people who are at risk for serious health problems and be able to provide them with the appropriate care at the soonest possible time.
One major concern here though is the privacy of patient data. The challenge now for healthcare providers is on how to leverage that data in such a way that it will provide better quality of care to the patient but at the same time keep that data secure.
Individual Patient Care
One of the emerging trends in healthcare is the growth of personal health tracking devices. These wearable devices have stemmed from patients’ demand for a more proactive role in their healthcare experience. These devices generate a lot of data, now mostly being used by the patient alone.
Further, according to an article on Entrepreneur.com, there are more than 100,000 mobile health apps available in the market now. The same article states that, according to a Manhattan Research Cybercitizen Health study, 95 million Americans are now using at least one mobile health technology. Patient information from all these sources will continue to grow. It’s interesting to find out how technology will be able to integrate the information from all these sources and see how they can be put to use more extensively.
Affordable Health Care
The Affordable Care Act rewards health care providers not only for improving health outcomes but also for controlling costs. Big data plays a critical role in this because it enables healthcare organizations to facilitate more data sharing thereby making the healthcare system more transparent. Moreover, big data also encourages providers to use innovative technology to connect with patients in new ways. This paves the way for a higher level of care at reduced costs and consequently provides a better healthcare experience for the patient.
With these new trends now shaping the industry, we can already see the huge impact that big data has started to play in our lives. In the years to come, we can definitely expect big data to continue making changes on the quality and cost of healthcare.
No matter how cliché the statement, “Health is wealth” can be, it is definitely something that each individual should take into account. Need not worry though, because we can provide your medical institution all the assistance you’ll need through our exceptional patient services such as billing, coding, and even back office responsibilities. Learn more!