Financial Impacts on Healthcare
Q: What are some of the key financial challenges facing healthcare providers today?
A: One of the big challenges is the rapid technology change from health tracking, diagnosis, and risk modelling. That, combined with growing care quality and population management solutions, will change the way we look at health.
Q: What are the financial benefits of using data analytics for healthcare providers?
A: The key financial benefits for providers are the ability to manage patient risk and tailor care plans more efficiently to improve patient health. Healthier patients will likely get better jobs and be able to afford more healthcare. (Who isn’t willing to spend on their family’s health?)
Remember, value equals cost / quality, so lower cost increases value and higher quality increases value. The U.S. healthcare industry is spending a lot of time looking at value in recent years. Patients, too, are slowly shifting to an awareness that they need ... read more