The role of data-driven innovation in shaping the future of healthcare, Health News, ET HealthWorld

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Saikumar Chintareddy

Data is the key to unlocking the potential of our digital future. In healthcare, data science has provided unprecedented opportunities to lower the cost of care, enable preventive care, and improve patient outcomes. By introducing virtual assistants, artificial intelligence (AI), genomics, and blockchain, data-driven digital health technology is enabling more connected experiences across the healthcare landscape and changing the way patients, providers, and payers view healthcare.

According to a McKinsey study, 25% of US health care spending, or nearly a trillion dollars, is underutilized. This can be eliminated by up to 75 percent by making better use of data. Leveraging emerging technologies, advanced analytics, and diverse data sets will streamline healthcare processes and help achieve the four goals of expanding access to care and health equity, improving quality of care, improving patient and provider experiences, and reducing the cost of care.

Data can improve health

Data collection and processing improves healthcare delivery and can be used to improve patient outcomes and reduce costs.

Applying advanced analytics to broad, inclusive data sets empowers providers with a sharper lens to gain accurate insights for better outcomes.
A connected data ecosystem creates interactions that reduce risks in achieving desired outcomes.
The data also helps generate insights that help create overall health equity, allowing the health ecosystem to more effectively serve all communities.
Data empowers patients by informing them about their condition, offering better access and therefore an improved treatment experience.
Healthcare organizations are aligning their business models and strategies with data analytics to help optimize their operations and tailor it to each individual’s needs.

Barriers to data-driven innovation

Despite the promise of data innovation in healthcare, the industry has not been able to take advantage of its full potential due to certain challenges:

Analyzing health data is a complex undertaking that requires effective management to ensure data accuracy. To reap its benefits, institutions must create clean, accurate and comprehensive data sets
The lack of interoperability and communication also needs to be addressed. Improving the exchange of standardized health data reduces the administrative burden on providers. Connecting the healthcare workforce through data can speed up the diagnostic process and reduce costs for patients and insurers.
Research shows that to drive data innovation, health systems need skilled analytics resources, rapid integration of advanced technologies across multiple platforms, and increased data governance.
To unlock the full potential of health data, we must secure it and allow access with patient consent. Intractable information systems foster a culture of trust and openness, leading to a seamless and complete transition to digitization.

Shaping the future of healthcare togetherData-driven innovation will help further modernize, streamline, and simplify the healthcare system. Stakeholders recognize the potential of machine learning, analytics and other advanced digital tools in healthcare. However, the integration of data-driven platforms is urgent and fundamental to transform the quality and delivery of healthcare through AI-powered systems.

A survey of healthcare professionals by Harvard Business Review Analytic Services shows that the industry values collaboration and data sharing. According to the study, 86 percent of respondents agreed that significant reform could be achieved through strategic and operational alliances using shared data and agreed outcomes and decision-making criteria, and 84 percent believed that data sharing between healthcare organizations would increase. could have a significant impact on health care reform efforts.

The future of digital health will be data-driven, and it will connect all corners of the healthcare ecosystem—from manufacturers to pharma and providers. It encourages the co-development and sharing of creative solutions and a more efficient, integrated and well-connected system for all stakeholders.

With improved data management systems, this vision will soon become our reality, enabling people to live healthier lives and healthcare systems to work better for everyone.

Saikumar Chintareddy, vice president of software engineering and head of data, enterprise architecture and integration, UnitedHealth Group.

(DISCLAIMER: Opinions expressed are solely those of the author and not necessarily subscribed to by EHealthworld. EHealthworld.com is not responsible for any direct or indirect damages to any person/organization.)

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