What Is Healthcare Analytics?

Healthcare analytics is the process of analyzing current and historical industry data to predict trends, improve outreach, and even better manage the spread of diseases. The field covers a broad range of businesses and offers insights on both the macro and micro level. It can reveal paths to improvement in patient care quality, clinical data, diagnosis, and business management.

When combined with business intelligence suites and data visualization tools, healthcare analytics help managers operate better by providing real-time information that can support decisions and deliver actionable insights.

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For hospitals and healthcare managers, healthcare data analytics provide a combination of financial and administrative data alongside information that can aid patient care efforts, better services, and improve existing procedures.

Healthcare BI suites tend to emphasize broad categories of data for collection and parsing: costs and claims, research and development, clinical data alongside patient behavior and sentiment.

See a healthcare dashboard in action:

Healthcare Analytics Dashboard

The first category assists administrators with identifying areas to streamline operations and increase savings in a concrete fashion. Research and development are crucial aspects of healthcare, providing new innovative solutions and treatments that can be properly tracked, measured, and analyzed.

Clinical data is vital for administrators to determine what areas of their service need to improve and offer more granular information regarding treatment effectiveness, success rates, and more.

Finally, understanding what patients and clients are feeling and how they react to service and treatment is critical when working towards extending ever-improving services.

How Can I Use Healthcare Analytics?

Deploying a healthcare analytics suite can help healthcare providers leverage data for insights in several areas of operations. One major area where using analytics can optimize efforts is the management of hospital and foundation donations and grants.

For many healthcare providers, donations are the basis of their yearly budgets, so organizing and tracking expenses and activity is vital for setting appropriate goals. Moreover, it can help track donor engagement, retention, and previous contributions.

See it in action:

Hospital Donations - Healthcare Dashboard

Another area where healthcare data analytics shines is providing hospital administrators with information that allows for optimal physician scheduling. In this situation, healthcare analytics gives a birds-eye view of physician records, patient histories, and needs to ensure the right doctor or professional is deployed to the patients most in need. These systems can also be used to improve patient satisfaction and expedite the healing process.

For insurance companies, healthcare analytics suites provide an easier and more granular approach to track existing claims, clients, and premiums. With better real-time measurements and historic visualizations, insurance companies can adjust policies, monitor open claims, and present better prices for services.

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