A number of market forces, including the drive to reduce costs, increased regulatory demands, and the rise of the empowered consumer, are transforming the healthcare industry. This transformation will be enabled by the increased availability of healthcare data, and the emergence of big data and advanced analytics methods. Vince Vickers and Bharat Rao, principals at KPMG, share their thoughts on how healthcare is changing into a data- and analytics-driven industry, and how providers can be prepared.
What will be the impact of the big data revolution on the industry?
Big data is already being used in pockets, but the complete transformation, which is inevitable, could take many years. Pay-for-performance means that providers and hospitals need to do more to attract, retain, and monitor patients— they need to make operational, financial, and clinical improvements, which can be daunting. Big data tools can inform and support these changes in multiple ways. Applying advanced analytics to healthcare data can yield actionable insights into critical areas including provider payer collaboration, cost reduction, improved health outcomes, patient safety, and physician satisfaction. It is really exciting that within the provider community, it is now possible to use large external patient-claims data sets, accessed through collaborations, to understand what is happening to patients outside the four walls of their institutions, and then apply that knowledge to transform the delivery of care.
What can providers do with these large external patient-claims data sets?
The new era of healthcare requires providers to manage and monitor their patients regardless of the care setting. Providers can gain value from these broad data sets by performing longitudinal analyses across the continuum of care, and using advanced analytics to understand the care decisions. We’ve found that these data sets can be useful for understanding the total costs across the continuum of care, improving population health management, monitoring patients with chronic diseases, and measuring patient safety and the quality of care as mandated by the Affordable Care Act.
What is the biggest data obstacle healthcare organizations face?
As healthcare organizations become more mature in terms of business intelligence, they spend less and less time actually collecting data and more time acting on what the data indicates.”
Many healthcare organizations spend too much time collecting data rather than analyzing the data and using that analysis to make decisions. As healthcare organizations become more mature in terms of business intelligence, they spend less and less time actually collecting data and more time acting on what the data indicates. It is also important that healthcare organizations align their analytics maturity with their business needs.
What challenges can healthcare organizations expect once they start working with big data?
Big data in the healthcare industry comes from multiple sources—for example, bringing together disparate silos of imaging, clinical, billing, claims, and research data. Getting all that data—which in raw terms has very little information—to yield answers to complex questions, such as how your nurse overtime policy is affecting ICU quality and patient satisfaction, or which geographic areas would benefit most from increased local specialty services, can be challenging from a data integration perspective. A second challenge is that heavy lifting is required to get clean, normalized data into a well-structured data warehouse. That takes robust extract, transform, and load (ETL) tools, and is the most demanding part of a data warehousing and analytics effort. In addition, IT research firms say that unstructured data accounts for more than 80 percent of all enterprise data. Merging the structured data—the data warehouse information and the enterprise applications, for example—with unstructured unstructured data, which can include physician notes, e-mail, and web and social media, is very complex. Finally, current analytics creation, distribution, and consumption processes are highly manual for most providers, and overcoming that is both a technical and a cultural challenge.
How does KPMG bring value to healthcare organizations looking to capitalize on big data?
KPMG has made a large, strategic investment in a Data and Analytics Solution Center that is home to a team of leading data scientists and other specialists with experience in predictive analytics, optimization, and modeling. This team provides a platform to accelerate the design and delivery of analytical solutions that are created in partnership with our client engagement teams as well as with a robust suite of data and analytics offerings, and access to one of the largest integrated medical and prescription claims data sets. We’re particularly well equipped to help healthcare providers thrive in the converging and constantly evolving healthcare landscape. We have years of experience in the healthcare field, and our transformational services including revenue cycle, cost analysis, and process redesign are built to support the healthcare industry during this time of increased economic pressure and ongoing regulatory change. And, we also never lose sight of the big picture: helping a practice or a hospital transition to a quality driven, outcomes-based culture.Why have you chosen to partner with Oracle?
The partnership between KPMG and Oracle is a natural one because Oracle has made a deep commitment to investing in the healthcare industry. Oracle’s executives have acknowledged that the escalation of costs in the healthcare industry is simply not sustainable, and that the technology that has been used in so many industries can be deployed to transform the delivery of care. KPMG is able to leverage Oracle’s comprehensive, integrated solutions for business functions in the healthcare industry to elevate providers’ level of care and their profitability.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates.
This advertorial was originally published in the May 2015 edition of Profit.
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