Healthcare data analytics uses vast amounts of clinical, research, and organizational data and converts it into intelligent, actionable insights that help optimize decision-making; solve complex problems; and drive learning, innovation, and growth. Given the rise in competitive pressures, mounting operational costs, dynamic patient needs, and pandemic-induced challenges, healthcare data analytics can help organizations look for innovative ways to increase operations efficiency, quality, and margins.
To stay ahead in 21st-century healthcare, an organization needs to spot current and upcoming market trends and make quick and informed decisions. With healthcare data analytics, organizations gain access to reliable, timely information that drives better decisions. Quantzig’s advanced healthcare data analytics solutions deliver holistic, consistent, and accurate insights that healthcare decision-makers across the globe rely on to improve organizational performance. Combined with rich solutions and actionable insights, healthcare organizations leverage data analytics in healthcare to drive the highest productivity.
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The client is a multinational chain of super-specialty hospitals headquartered in Britain. The client is famous for providing unparalleled medical treatment and care to patients.
The Business Challenge
The client wanted to leverage the patient electronic health records (EHRs) to help identify large health patterns and reduce costs by avoiding unnecessary care or hospitalization.
The client wanted to leverage healthcare data analytics to improve patient care and use clinical insights to help both the organization and the patient deliver better outcomes.
The client also wanted to build a robust data management system to optimally collect, interpret, and analyze data and provide them with actionable insights that could be further used for accurate diagnosis and necessary treatment.
One of the highest costs incurred by the client’s patients was for the treatment of chronic diseases. They wanted to leverage healthcare data analytics to cut costs by predicting patients at a higher risk or requiring early intervention.
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During the first phase of this engagement, Quantzig’s subject matter experts (SMEs) focused on optimally collecting, analyzing, and interpreting the client’s organizational, clinical, and research data by creating a centralized data warehouse management system. The analysis of these datasets enabled the client to tap into years of medical history records, demographics details, diagnostic results, records of previous illnesses, and active allergies of patients. This enabled the client to provide necessary alerts to caregivers, pre-empt patient health complexities, create detailed treatment plans, and optimize patient care substantially.
During the second phase of this engagement, Quantzig’s experts derived advanced data analytics-based risk models by accounting for various medical conditions to predict high-risk patients or those requiring early intervention. This led to an increase in the quality of patient care provided by the client and a substantial reduction in unnecessary medical expenses incurred by patients.
In the last phase of this collaboration, Quantzig’s healthcare data analytics experts developed an in-house analytics-based healthcare application capable of providing information on EHRs, real-time access on patient engagement maps, and actionable medical insights to provide better care. This app also provided hospital administrators with ample details that allowed for optimal physician scheduling and made use of automation-based chatbots to engage patients in reducing missed appointments. The client was also able to obtain a real-time bird’s-eye view of physician records, patient records, and insights about patient pain points with the help of this application. Moreover, this app was also helpful for healthcare insurance providers as it provides a granular approach to track existing claims, upcoming claims, and premiums. With a real-time update, insurance providers could customize policies, monitor premiums, and open claims.
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By collaborating with Quantzig, the client was able to deploy healthcare data analytics to identify hidden factors responsible for reducing their business efficiency. Quantzig’s advanced data analytics solutions and the in-house healthcare app that Quantzig’s SMEs designed, helped the client streamline their operations management and improve patient engagement rates. The key business outcomes of this engagement were –
- Designed a healthcare app that provided real-time information to optimize patient care
- Created a centralized data warehouse management system to collect all organizational, clinical, and research data in one place
- Enabled the client to optimally analyze and interpret data to obtain intelligent, actionable insights
- 15% increase in patient conversion rates over three months
Data analytics in healthcare plays a crucial role in analyzing pain points and driving fruitful outcomes. Request for information on the scope of data analytics in the healthcare industry.