Day-by-Day Data Analytics is Becoming Vital Part of Healthcare System
Leveraging healthcare database, researchers are now able to drive results in a very short time in crucial areas including patient comorbidities, drug effectiveness and safety, treatment patterns etc. Data analytics tools or services are able to influence key decision-making, driving improvements and results for clinicians and policymakers by enabling research experts to quickly uncover strategies.
The ongoing COVID-19 crisis deliberately demands rapid results in each and every division of healthcare. Right from diagnostics, drugs/vaccines R&D and manufacturing to treatments etc. Here data collection and its analysis play vital role to track care and outcomes, demographics and more measures for every patient within a hospital and in outpatient settings. To fulfil the demands, many companies are seen performing strategic activities such as partnerships and collaborations etc.
For instance, Boston Health Economics (BHE) and Premier Healthcare Solutions, Inc. (Premier) recently joined forces to streamline data analytics and quickly uncover strategies that could improve patient care.
In the statement, Joseph Menzin, Ph.D., Founder and CEO of BHE said, “As we continue to navigate the ongoing pandemic, the ability to access up-to-date real-world data and efficiently conduct robust analysis is more important than ever”. He also stated, “Speeding the development and dissemination of impactful research is vital for the U.S. response to COVID-19, as it can help governments, healthcare providers and communities respond to patient needs and provide high-quality care.”
But, if we look at the transformations happened in healthcare in previous few years, the sector has welcomed the technological advancement in its every field. Rise in the prevalence of chronic diseases like cancer, diabetic or heart diseases, etc. and continuous advancements in new technologies are the two of the main reasons accelerating the growth of clinical data analytics market.
It has been witnessed that healthcare organizations, pharmaceutical companies, research or government organizations are implementing data analytics services or tools for quality improvement and clinical benchmarking, clinical decision support, comparative analytics/comparative effectiveness, regulatory reporting and compliance, and precision health.
With this transformation, health data interoperability for health payers and providers is also becoming important for data strategies of health plan. The platforms are used to secure connections between payers, providers, and patients. Onyx Health announced its partnership with CareJourney to solve data interoperability challenges for health payors.
In the press statement, Aneesh Chopra, President, CareJourney said “This partnership with Onyx enhances CareJourney’s Interoperability Advisory Services with the ability to integrate with a proven interoperability solutions provider. Onyx brings to the table the experience and expertise of the CMS Blue Button 2.0 service, and they are perfectly positioned to extend these capabilities to commercial payers.” Edward Yurcisin, Onyx Technology’s Chief Product Officer added, “The SAFHIR platform is the foundation for a payer’s interoperability needs. This platform built on top of Microsoft’s Azure API for FHIR enables the exchange of data for both internal and external users. SAFHIR not only enables payers to meet their regulatory requirements, it also enables payers to utilize data more efficiently in order to better serve beneficiaries.”
Looking at the changes happening in healthcare, research analysts state that the high cost of treatment is restricting the growth of clinical data analytics market. On the other side, they also predict that an increase in healthcare expenditure will bolster the growth of the market.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.