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How a Flexible Data Strategy Saves Lives—and Money

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1 minute read
A doctor speaking to a patient

Just a few years ago, health systems were generally operated as revenue centers—the more patients seen, the more money made. But, in today’s reality of outcomes-based reimbursement, hospitals must be run as cost centers—ensuring their margins by eliminating the process inefficiencies and waste that contribute to hospital readmissions, reduced reimbursement and costly penalties.

To improve quality of care while reducing unnecessary costs (e.g., duplicate tests, avoidable readmissions), providers need to be able to access and make sense of many untraditional types of patient data, including demographic and social information found in unstructured free text physician notes, diagnostic images and other sources.

However, according to JAMA, advances in analytics techniques are in contrast to traditional statistical methods which are “largely not useful for analysis of unstructured data such as text-based documents that do not fit into relational tables.”*

The remedy lies in building a flexible data strategy.

Use Data to Improve Quality of Care and Reduce Costs

Ultimately, striking an ideal balance of improving patient outcomes and reducing process inefficiencies and unnecessary costs will require a robust and flexible data strategy that enables a 360-view across all data sources to enhance clinical interventions specific to each patient. The problem is that trying to create this agile strategy on rigid, outdated technology is, in and of itself—costly and inefficient.

There is a better way …

How an Agile Data Strategy Saves Lives—and Money

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Want to Learn More?

Three Questions for Your Healthcare Data Strategy: With healthcare data projected to grow to a staggering 25,000 petabytes by 2020—for context, just one petabyte can hold 500 billion pages of standard printed text—developing a flexible data strategy is critical to a sustainable and competitive enterprise.

Webinar: Is Your Data Strategy Ready for Quality & Payment Reform? As healthcare transitions to a world of risk-based reimbursement, healthcare data strategy must also evolve. Dr. David Nace co-hosts a discussion that outlines strategies for payers, providers and other organizations to leverage high volumes of variable data to improve care coordination and health outcomes.

Nick Diamond

Nick develops market strategy and messaging for MarkLogic's healthcare and life sciences business. Before joining MarkLogic, Nick worked in advisory and consulting capacities at the MITRE Corporation and Booz Allen Hamilton, respectively, where he supported the U.S. Department of Health & Human Services with policy and operational challenges around implementation of the Affordable Care Act.

Nick has deep subject matter expertise across the health care domain, with particular strengths in health law, bioethics, and public health. His work has appeared in law reviews, leading peer-reviewed journals, and popular media outlets. He has taught health care ethics at the university level, lectured in both medical schools and schools of public health, and appeared multiple times on MSNBC as an expert in public health law.

Nick studied philosophy and theology as an undergraduate at Georgetown, law at Charleston Law, and bioethics at the University of Pennsylvania. He is currently finishing a master of laws (LL.M.) in global health law at Georgetown Law, where he also serves as an Articles Editor and member of the Article Review Committee for The Food and Drug Law Journal.

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