Innovation Through Analytics
Analytics has come a long way since the first scorecards landed in healthcare enterprises. Today, intelligent use of analytics may be the difference between profit or loss, growth or lost market share as healthcare moves from fee-for-service to accountable care. Analytics helps health leaders decide how to rearrange their businesses, processes, and work flows, and spark creative thinking about new opportunities or areas needing improvement.Part of the challenge is managing expectations in an era where big data is opening insights in all sorts of businesses, many of which can flow into healthcare. Savvy healthcare leaders have to evaluate the cost of implementing agile analytics systems and staff, weighing that cost carefully against real or projected benefits.