Big Data Analytics Accelerates Growth in the Healthcare Industry

Jul 31, 2017

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Big data refers to the large amount of data generated from several internal and external sources that help businesses to gauge market trends and gain customer insights. Big data analytics has revolutionized the way industries operate, including the healthcare industry. Big data and analytics are making the world a better place by assisting organizations to drive efficiency and productivity. Companies are increasingly turning to big data analytics technologies to analyze the information and gain strategic market insights. Big data analytics has helped healthcare companies to improve profitability, reduce wastage, predict epidemics and prevent deaths. Through big data analytics, healthcare service providers can understand patient’s needs and devise treatment delivery plans accordingly.

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Big Data Analytics Trends in Healthcare

The healthcare companies are capturing value and developing strategies with the help of big data analytics to achieve their objective of improving patient treatment outcomes. Big data can prove to be beneficial to the stakeholders in the healthcare industry if they focus on minimizing health care spending and medical outcomes by undertaking a patient centric approach to create value. Let’s have a look at the major big data analytics trends in healthcare industry.

  • The worldwide adoption of electronic health records (EHR) by healthcare service providers to understand the patient patterns and medical history has improved operational efficiency and patient care
  • Big data and analytics helps the hospital staff to streamline their operations and increase their work efficiency by using sensors that monitor patients’ blood pressure levels, heartbeat, and respiratory rate to detect changes
  • Big data is used across organizations to gain healthcare intelligence that helps hospitals and providers to devise strategies to help them gain a competitive advantage by developing patient centric solutions.
  • It also enables healthcare organizations in smooth administration, preventing human errors, and keeping track of patient prescriptions. Big data analytics also helps insurance companies to prevent false insurance claims and eliminates fraudulent practices

To know more about big data and its role in the healthcare sector, request a free proposal.

However, at present, big data in healthcare is at a nascent stage and faces two major challenges. Firstly, it lacks the technical expertise that is required to leverage the benefits of big data analytics and secondly, the healthcare industry lacks an integrated and strong security infrastructure to protect patient data. But apart from these roadblocks, big data analytics is here to stay and is the next big thing in the global healthcare industry.

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