The American Bar Association (ABA) states that Big Data is the next revolution for health care operations. Health care costs are rising among both insurers, organizations, consumers and the government. Everyone wants to increase speed and efficiency without sacrificing quality of care. Health care organizations are now using Big Data, analytical tools, and business intelligence to identify opportunities to reduce costs, boost efficiency and increase quality.
Study the Supply Chain
All organizations depend on operationally lean logistics in order to maintain inventory, meet customer demand and prepare for the future. Big Data and analytics tools help healthcare administrators comparatively scrutinize patient billing, vendor invoicing, contract spending, inventory issues and procurement performance. Identifying and minimizing unnecessary inventory and wasteful spending are the keys to healthy profit margins. Healthcare administrators can analyze their supply chain and evaluate their supplier’s performance based on factors like pricing, quality, quantity and timeliness. The easiest way to improve supplier performance and weed out the poor performers is through analytically evaluating vendor compliance with contractual terms and obligations.
Minimize Machines Failure
Big Data tools can analyze the input from software that monitor’s essential hardware and systems to predict and prevent malfunctions and breakdowns. This involves programs that remotely download operational data from equipment in order to establish correlations between failure, maintenance, performance, and malfunctions. Patient safety and quality care depend on the instant availability and accurate performance of medical equipment. These, in turn, are dependent on proper preventative maintenance. Healthcare administrators can now predict equipment failures based on past performance and maintenance standards. Most hospitals prefer to use online dashboards that provide IT teams with insights into non-medical hardware like servers, printers, and computers.
Big Data is also being used to optimize block scheduling activities. As a result, management will simultaneously understand staff, room and equipment usage and availability patterns.