Only 10 percent of healthcare professionals believe their organizations use data and analytics at their highest potential, according to recent research results..

Moreover, 21 percent of 271 responding organizations are still in their “infancy” when it comes to data/analytics capabilities and are only “planning their journey” at this point. Of the other respondents, 16 percent said they are using data in strategic decision making, 28 percent are relying on data warehouses to track key performance indicators and 24 percent are using data marts.

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“Many organizations are not where they need to be in leveraging this technology,” said Bharat Rao, KPMG’s national leader for healthcare and life sciences data analytics. “Healthcare organizations need to employ new approaches to examining healthcare data to uncover patterns about cost and quality, which includes safety, to make better informed decisions.”

Despite these potential benefits, respondents to the survey cited significant barriers to properly implementing data and analytics tools: unstandardized data in silos (37 percent), lack of technology infrastructure (17 percent), and data and analytics skills gaps (15 percent).

Overall, the benefits from data and analytics are seen by respondents as being balanced between business intelligence (34 percent), improving clinical outcomes (27 percent) and lowering costs (24 percent). Yet, the survey also found that life sciences, providers and payers had different perspectives on the value of analytics for their respective organizations.

Life Sciences companies saw business intelligence (56 percent) as the biggest benefit, while payers looked at big data as a means for more effectively managing costs (35 percent). At the same time, providers were divided about the biggest benefit, suggesting that improving clinical outcomes (32 percent) and business intelligence (29 percent) held the most value for their organizations.

The article courtesy of Information Management's sister media brand, HealthData Management.

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