Healthcare providers and health IT solutions partners now generate a massive volume of data. Since EHR adoption became mainstream, providers have built massive data warehouses and silos. According to online statistics, the expected volume of data generated in the healthcare industry in 2020 is 2,314 exabytes. But how many CIOs can say this is the data we have, this is what it is worth? With the right data management approach and tools, it is possible to measure data, manage it, and transform it into useful information. In this post, we will present a three-step approach for turning your healthcare data into an asset.
1. Identify Your Data
To derive maximum benefits from your data asset, you need to treat it like a physical asset. Ask yourselves, what data do we have?
Be prepared to monitor and take inventory of your data like you will do to a physical asset. To do this, you need to identify the sources of data and their storage locations.
For effective management, you need to know where the data resides and how to keep it in a form that enhances searching, reporting, and analysis.
Just as your organization knows its bed and clinician capacity, it is possible to know the origin and storage location of the data in its system.
With the help of a well-designed data analytics platform, you can track data inflows and know exactly where data resides. Having a system that brings data under centralized control can be a foundation for effective data management.
In the process of developing or deploying your data management system, you will also be able to identify and quantify your data and monitor user access. That takes us to the next step.
2. Measure Your Data
After identifying your data, you need to quantify it. Virtually every department in your organization will generate data on a weekly or monthly basis.
Every system used to offer patients service will have data to measure, from appointment scheduling, pre-consulting, consulting, treatment, diagnostics, billing, and patient portals.
Unfortunately, you may not have decided to treat your organization’s data the same way you treat the tangible assets in each department. Still, your data can provide actionable insights that will transform your practice.
3. Transform Your Data
Your ability to leverage your data assets will determine how much value you derive from them. Just as you monitor your beds and who you place on them, you need to monitor, harness, and transform your data.
The primary goal for this step is to improve the quality of care, boost patient engagement, and enhance care outcomes. Other benefits of effective data utilization include:
- Reducing the cost of care
- Predicting the spread of disease
- Improving community or population health
To put all your data to productive use, you should invest in a data integration and management tool that can coordinate the data generated by all your applications. This solution will provide dashboards, reports, and analyses that you can use to identify services and processes that can be standardized to improve your bottom line.
Learn More About Transformational Health IT Solutions
Contact MediQuant at 844.286.8683 to talk to us about your health data management needs. You can also reach us through our contact page to book a free consultation.