Health care analytics

Health care analytics is a term used to describe the healthcare analysis activities that can be undertaken as a result of data collected from four areas within healthcare; claims and cost data, pharmaceutical and research and development (R&D) data, clinical data (collected from electronic medical records (EHRs)), and patient behavior and sentiment data (patient behaviors and preferences, (retail purchases e.g. data captured in running stores). Health care analytics is a growing industry in the United States, expected to grow to more than $18.7 billion by 2020. The industry focuses on the areas of clinical analysis, financial analysis, supply chain analysis, as well as, fraud and HR analysis. The current largest players in the market are medical consulting and medical software companies (IBM Corporation, SAS Institute, Inc. Optum, Inc, Truven Health Analytics Inc., Cerner Corporation, and McKesson Corporation) who have the ability to extend their reach with already existing customers.

Health care analytics allows for the examination of patterns in various healthcare data in order to determine how clinical care can be improved while limiting excessive spending.

Citing consultant George Zachariah from Dynamics Research Corporation, Healthcare IT News noted several potential benefits from health care analytics: 1) “cut[ting] down administrative costs,” 2) “clinical decision support,” 3) “cut[ting] down on fraud and abuse,” 4) “better care coordination,” and 5) “improv[ing] patient wellness.” A research article by Betty Jo Rochio further discussed how data analytics could be used to lower costs by “reduc[ing] variation in supplies, labor, and overhead.”

Multiple federal entities are heavily involved in health IT. Within the executive branch, the administration itself, Centers for Medicare and Medicaid Services (CMS), and Office of the National Coordinator for Health Information Technology (ONC) each have strategic plans and are involved in determining regulation. Within the legislative branch, multiple committees within the House of Representatives and Senate hold hearings and have opinions on using data and technology to reduce costs and improve outcomes in healthcare.

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