Healthcare industry turns to BI to improve decision-making

Healthcare providers face an ever-growing number of challenges to providing quality patient care, but business intelligence (BI) tools may aid in filling this gap. With the help of DBA services, enterprises can capitalize on BI analytics to design more intelligent treatment programs.

Healthcare Finance News reported that the Franklin Memorial Hospital in Maine is one organization that has recognized the importance of BI. According to the news source, the hospital recently decided to take part in Value Journey, a project with 35 participating medical organizations that seeks to overcome common obstacles such as fragmented care delivery. Wayne Bennett, chief financial officer for the Franklin Community Health network, told Healthcare Finance News that BI is a major component of the hospital’s strategy for change.

The source revealed that Franklin Memorial began its BI initiatives by addressing the issues of data warehousing and integration technologies as well as desktop search, reporting and analysis tools. 

“We are at the data warehousing period of the evolution, where we are not only working off of one database, but we are also delivering business intelligence dashboards of information and putting more energy on analyzing information, rather than gathering information,” Bennett explained to the source. “Relationships of data drive the business intelligence, and you can stop working off of anecdotal information and focus on straight facts. Really, data intelligence is an evolution.”

Problem-solving with data
Jim Goodnight, the founder and CEO of SAS, told Health Data Management that new visualization tools will be especially advantageous in providing real-time, tangible access to analytics through customized reports. For example, he revealed that practices will be able to more immediately detect fraud or health-related trends.

“For the first time in history, you can look at every claim with every payer and see exactly what we spend our money on,” he noted. “You can see which hospitals are charging way too much for a drug. You will be able to explore health data in a way you could never do before.”

Organizations like Franklin Memorial can continue to use these data-driven tactics to both improve costs and solve inherent problems in the healthcare community.

RDX’s business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.

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