IT PARK
    Most Popular

    Are 5G towers harmful?

    Jun 24, 2025

    Berlin showcases smart city innovations

    Jun 03, 2025

    Tesla and BMW lead supply chain renaissance with blockchain

    Jun 15, 2025

    IT PARK IT PARK

    • Home
    • Encyclopedia

      What is a port?

      Jul 01, 2025

      What to do with a laptop blue screen

      Jun 30, 2025

      Is it better to save the file as a zip archive or as the original file?

      Jun 29, 2025

      What is cross-site scripting attack

      Jun 28, 2025

      The difference between SLR and digital cameras

      Jun 27, 2025
    • AI

      Can AI Painting Replace Human Painters

      Jul 01, 2025

      Who owns the copyright of the paintings created by AI for you?

      Jun 30, 2025

      How does the meta universe "feed" artificial intelligence models?

      Jun 29, 2025

      Amazon Bedrock: How to Stay Competitive in Generative AI

      Jun 28, 2025

      AGI Avengers! Google Brain and DeepMind officially announced a merger

      Jun 27, 2025
    • Big Data

      Transforming the construction industry through digital twin modeling

      Jul 01, 2025

      How does big data start? From small data to big data

      Jun 30, 2025

      What is big data? What can big data do?

      Jun 29, 2025

      Benefits of big data analysis and how to analyze big data

      Jun 28, 2025

      Six benefits of big data for enterprises

      Jun 27, 2025
    • CLO

      Essential factors to consider for a successful cloud transformation journey

      Jul 01, 2025

      Building a Smart City: The Importance of Cloud Storage

      Jun 30, 2025

      SaaS sprawl: meaning, hazard, status quo and mitigation plan

      Jun 29, 2025

      What are the advantages and disadvantages of hybrid cloud?

      Jun 28, 2025

      Cloud computing has many applications in our daily life, what are the main ones?

      Jun 27, 2025
    • IoT

      6 Ways the Internet of Things is Transforming Agriculture

      Jul 01, 2025

      4 Big Challenges for IoT Data Collection and Management

      Jun 30, 2025

      Most enterprises expect a return on investment within one year of IoT deployment

      Jun 29, 2025

      What are the main applications of IoT in our real life?

      Jun 28, 2025

      IoT systems and why they are so important

      Jun 27, 2025
    • Blockchain

      Blockchain Common Consensus Mechanisms

      Jul 01, 2025

      How energy company Powerledger (POWR) is using blockchain to improve the world

      Jun 30, 2025

      Ten application scenarios for blockchain

      Jun 29, 2025

      What is a privacy coin? What is the difference between them and Bitcoin?

      Jun 28, 2025

      The difference between Bitcoin cash and Bitcoin

      Jun 27, 2025
    IT PARK
    Home » Big Data » Accurate data is more important than more data in the healthcare industry
    Big Data

    Accurate data is more important than more data in the healthcare industry

    By 2025, healthcare data is expected to grow at an average annual rate of 36%, far outpacing other sectors such as manufacturing, financial services, the media industry, and entertainment.
    Updated: Jun 02, 2025
    Accurate data is more important than more data in the healthcare industry

    By 2025, healthcare data is expected to grow at an average annual rate of 36%, an impressive rate considering that just 11 years ago, only 9.4% of non-transit hospitals had even the most basic EHR systems.

    So how exactly are practitioners going to efficiently access, interpret and share the vast amounts of information stored in EHRs? More importantly, changing physician and hospital payment models are creating new challenges for organizations.

    Until now, there are three other core pieces of data that have not received the attention they deserve - patient attraction, patient retention and patient repatriation rates - that often accurately reflect how well health systems are performing against financial and quality of care goals, and are essential for improvement in the coming period.

     Patient Attraction

    For decades, many hospitals and health organizations have not focused on attracting patients because the source of patients has remained relatively stable. But this situation has recently undergone a major shift - competition in the market for commercial health insurance plans is rapidly increasing.

    Even the more efficient hospitals have actual overhead for patient care that is 2% higher than Medicare revenue. Correspondingly, if hospitals decide to participate in FFV programs through CMS, the majority of Medicare and Medicaid patient visits translate into direct losses that health systems cannot avoid.

    In this regard, data and analytics will play a major role. For major health systems, this horses the ability to match referral pathways to various specialty hospitals, thereby attracting large numbers of new patients. Tracking and analyzing this information will be a new opportunity for improvement that will help health systems facilitate the FFS and FFV payment process and ultimately lead to a better patient experience.

     Patient Retention

    Once a patient is admitted and discharged from a hospital in a health system, that hospital will, of course, need to retain patient information in the inpatient and outpatient network to follow up on follow-up care, additions to FFS payments, and reasons for FFV payments.

    For example, in 2019 alone, nearly 11 million Medicare patients will visit 518 facilities under the Accountable Care Organization (ACO) program. The program requires participating hospitals and physician offices to care for patients according to contractual agreements while sharing revenue from visits with each other. In this program, ACOs are likely to lose money if patients receive services that are not necessary.

    In contrast, if the patient's care and related expenses consistently meet the standard requirements, the counterpart organization receives an incentive payment. In other words, even if a patient ends up going to a competitor for treatment of an illness, the ACO ends up paying for those potentially redundant, duplicative or unnecessary patient visits.

    By studying and analyzing patient records, Medicare claims, commercial insurance company claims, and other information, health systems can compile overall trends in patient care within the existing health system, as well as determine the facility strengths or subject matter expertise of their ideal referral hospitals.

    Likewise, the analysis can help health systems quickly identify hospitals that are unable to provide sufficient beds or have long wait times due to emergency physicians, particularly as a result of the resulting transfers. In short, the insights can help health systems solve existing problems in a variety of ways, ultimately improving patient retention.

     Patient Repatriation

    Similarly, the analysis of claims and other data can help health systems quickly and accurately identify patients who do not need to be hospitalized, resulting in significant savings in public health care costs. In determining which patients are eligible for priority services, health systems will apply a variety of factors supported by the data.

    Hospitals can make repatriation decisions accordingly, such as scheduling patients with less serious conditions to visit a primary care physician's office, using telemedicine to examine patients who are at home, or helping them to connect directly with a nurse or other clinician by phone. The key to this is ensuring that patients are aware that the health system and providers share the same goals and are working together to help patients receive quality care that is consistent with their condition.

    As healthcare data continues to accumulate, delving into these three data points will bring analytic advantages to the entire healthcare system. From a time management perspective, following up on these three core metrics will not only help improve efficiency, but will also significantly improve other traditional observations.

    Regardless of changes in payment models or the healthcare industry, the best way to arrive at the right answer is always to think from the patient's standpoint.

    Growth Medical Data
    Previous Article AI era, to recommend a few excellent artificial intelligence business tools
    Next Article Types of Big Data Analytics Data

    Related Articles

    CLO

    Healthcare Explores Cloud Computing Market: Security Concerns Raise, Multi-Party Collaboration Urgently Needed

    May 20, 2025
    AI

    Transforming Financial Services with Artificial Intelligence

    Jun 13, 2025
    IoT

    Why sensors accumulate so much sensitive data

    May 24, 2025
    Most Popular

    Are 5G towers harmful?

    Jun 24, 2025

    Berlin showcases smart city innovations

    Jun 03, 2025

    Tesla and BMW lead supply chain renaissance with blockchain

    Jun 15, 2025
    Copyright © 2025 itheroe.com. All rights reserved. User Agreement | Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.