Don’t Let Data Hold You Back from Success

The healthcare industry need not be limited by technology

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The U.S. Department of Health and Human Services declares that approximately 75 percent of the country’s eligible professionals and more than 91 percent of hospitals are on electronic health records certified for Stage 1 meaningful use. These applications along with many others are creating valuable electronic data that – when integrated, shared and analyzed – can propel transformational initiatives like accountable care, population health and risk based contracting.

Success should not be limited by technology given other industries have demonstrated that near real time sharing and analysis of sensitive data is quite possible. What, then, could hold healthcare back from success?

Informatica recently released the findings of a survey targeted at understanding the answer to this very question. Respondents revealed that while 85% of are effective at putting financial data to use to inform decision making, many less are confident about putting data to use to inform patient engagement initiatives requiring access to external data and big data which they note to be more challenging. Complex, cross organizational transformational business processes require information sharing between applications yet over 65% of respondents say data integration and data quality are significantly challenging. So healthcare organizations are collecting data but many have yet to integrate these silos of application data to realize its full potential.

Similarly, International Institute of Analytics, a little over a year ago, offered a view of the healthcare analytics maturity landscape based upon deep quantitative assessments of more than 20 healthcare provider organizations. This research uncovered two important facts:

  1. Hospitals and other healthcare provider organizations have gone to great effort to implement core components of an EMR, giving them access to large amounts of data on patients, processes and costs.
  2. Those data assets have not yet been put to their highest and best use.

This is not uncommon, across industries and firms of all shapes and sizes, many have confronted the question of how well they are leveraging data and analytics to transform their organizations. Those organizations that have made the most progress in revealing meaningful and differentiated insights are those that have intentionally built and funded enterprise information management or data management programs in support of analytics. These programs accelerate stakeholder access to trusted information when and where they need it.

Informatica worked with International Institute of Analytics to publish a new whitepaper that explores this issue, with detailed definitions for how IIA measures analytics maturity within healthcare as an independent third-party. This report looks at how provider organizations are approaching their investments in analytics, with a focus on essential attributes like data quality and management, leadership support, the culture of data, analytics talent, and an enterprise-wide approach to analytics. If you haven’t read it yet, I urge you to read the report.

If you’d like to talk about these ideas, visit Informatica at HIMSS15 in Booth 3056.

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