A Unique Need for Strategic Analytics
The needs of the healthcare industry differ from other industries due to the immediacy and sensitivity of the issues at hand, as well as the nuanced nature of personal preferences vs. expert recommendations. If the benefits of good analytics and a well-organized dataset isn’t being taken advantage of, health providers will fall behind.
Data that Saves Lives
Healthcare decisions rely on highly sensitive information, require timely information and action, and sometimes have life-or-death consequences. This requires more immediate and regular monitoring of data. Done properly, this can take a huge weight off of staff and infrastructure.
Meeting Consumer Expectations
Health insurance companies can’t compete with the benefits and strengths of their health plans alone. Customers now expect complete transparency and an exceptional experience at every stage of membership. Data analytics can help deliver those experiences.
Healthcare and Predictive Analytics
Insurers need to provide more insightful recommendations to members based on their personal data. This allows members to make better decisions regarding their coverage and overall health. Predictive analytics allows for better insights, recommendations, and better care in the long run.
Accelerating Time To ValueOne of the world’s largest media companies approached us with a need to reach faster insights when forecasting digital viewership and ad impressions. They had a slow and laborious process for making data inquiries that often took a week or more to turnaround. Follow up questions on these inquiries took just as long, creating a frustrating and inefficient process, which was unacceptable for such a premier enterprise organization.
“I view Nick and DAS42 as the single most important strategic partner external to Snowflake that I have in the business. If somebody came to me and said, "You get to wave a magic wand and you can place any partner on this account, who are you going to choose? It’s DAS42 first every single time.”Evan BlakeSales Director, Strategic Accounts, Snowflake
The Issues Surrounding Healthcare Data
Data collection and analytics in healthcare is very complex. Here are a few problems specific to the healthcare industry:
- The healthcare industry has been resistant to making information available as open data for fear of privacy violations.
- Entrenched practices by hospitals and doctors make it hard for accurate data predictions to be acted upon.
- The adoption of new tools and data entry takes time, is burdensome, and leads to overall dissatisfaction with the tool.
- Misaligned incentives and unclear patient information being shared between various insurance providers and care providers can lead to a faulty or suboptimal level of care.
Solving the problem with proper data collection, strategy, and analytics
In an ideal world, policy changes could mitigate the systematic challenges in the healthcare industry, enabling hospitals to record and share patient data in useful ways. Until then, we need to be as systematic and diligent about our data collection as possible.
Knowing where the data is coming from, how that data is being collected, and what influencing factors there may be in the collection of that data may enable more accurate datasets to be brought together. Looking at the data properly enables doctors and insurers to make better decisions for their patients.
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