How the democratization of analytics can improve patient outcomes
A decade ago, healthcare financial analytics were nearly the exclusive province of… financial analysts. These sophisticated experts were comfortable using their skills to make structured queries, chiefly into financial databases, and to produce reports that shed some light on past performance. Typically, these reports were requested by business users – typically CFOs – who would use them to fine-tune their financial models. They were useful for long-range planning, but since they were largely confined to the financial arena, they had little impact on care delivery itself.
Fast-forward ten years, and all that has changed dramatically. Today’s analytics span financial, operational, clinical and patient-centric activities, and have a number of new capabilities that have converged to improve outcomes across the enterprise.
In no particular order of importance, these advanced capabilities are: