In the last few decades, the healthcare industry has grown tremendously. big data analytics solutions have also rapidly started to gain momentum in healthcare after increasing importance in the economic sector, logistics, and manufacturing. This emerging, IT-driven innovation wave’s potential is huge.
The healthcare industry has generated huge amounts of data with enormous volume, enormous speed, and vast range. As hospitals now tend to implement electronic health record (EHR) systems, it also comes from a multitude of new sources. These sources have strained the existing capacities of existing database management systems.
What is Big Data Analytics?
Healthcare analytics have the ability to reduce treatment expenses, predict epidemic outbreaks, avoidable illnesses, and enhance the overall quality of life. The average lifespan of humans is growing alongside the world population, which result in posing new challenges to the methods of treatment delivery.
- Accordingly, the market potential is enormous. The Big Data and analytics market in the U.S. is valued at $80 billion for the year 2020 (SNS Telecom 2015). – Source
A great deal of hope is connected with Big Data in medicine: decreased treatment costs, shortened hospital stays, individualized therapy plans allowed or optimized, and the fight against false claims.
Big Data Analytics Increase the Ability of the Health Care sector
- Improve Quality of Life
- Increase Preventable Care
- Cure Diseases.
Why do we need Big Data Analytics in Healthcare?
In this sector, we need some intelligent, data-driven thinking. Current incentives are also changing: many insurance companies are moving from fee-for-service plans (which reward the use of expensive and sometimes unnecessary treatments and the fast treatment of large numbers of patients) to plans that prioritize patient outcomes. Well, healthcare suppliers did not have a direct incentive in the previous scheme to share patient data with each other, making it difficult to use analytics authority. Use of Big Data Analytics shows considerable improvements in patient experience and quality treatment through the collection of data. It accommodates the latest technologies slowly and helps individuals make better choices. It enables patients to be safer in managing their health circumstances.
- “After more than 20 years of steady increases, healthcare expenses now represent 17.6 percent of GDP —nearly $600 billion more than the expected benchmark for a nation of the United States’s size and wealth.”
Importance of Big data Analytics
You can store the data in both structured and unstructured forms with the help of Big Data. Where structured data can be readily managed and, on the other hand, unstructured data cannot be easily managed. This big data analytics service providers technology is useful for both small organizations, and big data in the company are of huge importance.
Big Data Healthcare’s most significant aspect of understanding the importance it can bring into the scheme and enabling organizations to make efficient use of enormous data.
- Decreasing Healthcare Costs to Get Financial Profit
Big data can help in many ways to reduce the cost of offering medical treatments. In addition, data analysis provides health care providers with insight to identify populations at risk of illness. It is easier than ever to share data and its analytics. Big data can more correctly identify where education and prevention are needed at a lower cost to generate healthier populations.
- Medicare revenue will continue to be important to physicians–expenditures are estimated to reach $1,038 billion in 2024
2.Promotes Research and Innovation
By data analytics, patients’ current health status provides them with insight to take more ownership of their healthcare. The mechanism for sharing information improves productivity and reduces data overlap. Therefore, the coordination of care is enhanced.
Lifestyle illnesses can be predicted through genetic blueprints for the last few years. By determining the tests and treatments required for each patient, big data will further personalize medicine. Early treatment can decrease the cost of health and eliminate the danger of chronic diseases.
4.Strengthen the Preventive Care
It is always believed that prevention is always better than cure. Following this rule thumb, it is simple to capture, evaluate, and compare patient symptoms previously with the introduction of Big Data analytics to provide better preventive care.
- Predictive Analytics in Healthcare
The healthcare business intelligence’s objective is to assist doctors in making data-driven choices in-second and enhancing the treatment of patients. This is particularly beneficial for the patients suffering from various circumstances with a complicated medical history. For instance, new instruments could also predict who is at risk for diabetes and thus be recommended to use extra tests or do weight management.
- Prevent Human Errors
It has been observed many times that either the experts tend to prescribe a wrong medicine or mistakenly deliver another medicine. In particular, such mistakes can be reduced as Big Data can be used to evaluate user data and medication prescribed. It can corroborate out – of-place prescription data and flag potential to decrease mistakes and save a life. Such big data analytics consulting software can be a great instrument for doctors to take care of a lot of patients in a day.
Some opportunities provided by the big data in the Healthcare Industry.
- In-depth Research of Market condition
- Saves Times
- Save Cost
- Customer Understanding
- Understand Market Condition
- Improve Online Reputation
Challenges Faced By Big Data Analytics
With rapidly changing technologies it’s hard to address all the issues. Here are some challenges faced by Big Data Analytics in Healthcare Sector.
1.Reducing Healthcare Costs
One of the major difficulties in taking complete advantage of big data from health care is policies that safeguard the privacy of information for patients. Many regulations safeguard the data of the patient and do not disclose the identity of the patient that makes it hard to analyze big data.
On the contrary, because of market competition, sometimes health care companies are themselves unwilling to share information. Many doctors don’t want their rivals to understand precisely how many operations, they have conducted and where. Also, hospital demographics provide an economic benefit over another hospital.
- Data Aggregation
The data is unstructured in the healthcare industry. The data are in the form of pictures, charts, doctor’s notes, etc. The nature of structured data, apart from that, is mostly heterogeneous. These can cause a huge problem when these data are aggregated.
- The requirement of Expert Knowledge
Big Data Systems involve dedicated data researchers to assist design, execution, and ongoing use. Data researchers need sets of extremely technical skills. They must possess soft skills such as communication, collaboration, leadership, creativity, and more. The McKinsey Global Institute estimates that by 2020 there will be a shortage of more than 100,000 people. It implies that 50–60 percent of the positions of information scientists may be vacant.
Health data are very much personal data. If they will engage completely in Big Data analytics projects, patients anticipated additional privacy protection. Users should be permitted at distinct rates and times in such kinds of projects this will discourage unauthorized access to medical records.
To know more about the challenges and opportunities of Big Data Analytics in Healthcare Sector
We may consider Big data as the latest evolution in the field of decision that supports data management systems. On the other side, the digitalization in the health care sector is in peak. In the near future, there will be a widespread implementation of big data development services across the health care organization and the healthcare industry. Big data solutions could definitely save millions of lives and improve patient services.
If you are interested in investing in the future and want to use Big Data Analytics to be part of evolving healthcare industry, then you can choose a BR Softech company which is highly functional and provide Big Data Analytics software services to their clients according to their requirement with appropriate technologies.