More than ever before, healthcare organizations must be able to make information-based decisions if they want to improve operational efficiency and deliver improved clinical care. And that’s where data analytics software comes in.
With the huge volume of data that comes to most healthcare providers through their EHR and other hospital management software, there’s a need for a robust and well-designed platform to turn the data into actionable information.
Data analytics software can enable providers to gain insights that will enhance patient safety and boost care quality while improving cost efficiency and the overall performance of the organization.
Here’s a brief outline of the benefits of using data analytics software that has been customized to meet the specific needs of your practice.
1. Timely Actionable Information
All members of the C-suite need timely actionable data from the CEO to the COO, CFO, CMO, and CIO. Everyone needs the tools to make quick and well-informed decisions based on transparent data. Many times, when board members need to make decisions, they’re plagued with the problem of insufficient data or they’re inundated with so much data that takes a long time to study and understand.
Today, analytics software can help track revenues and reimbursements and enable executives to discover ways to reduce operational costs, optimize resource levels, and quickly deploy new technology at the point of care.
2. Capability to Measure Care Effectiveness
The Chief Medical Informatics Officer (CMIO) is responsible for developing the health informatics platform and ensuring that clinical IT staff can provide an efficient implementation of health IT. For any CMIO, a data analytics solution will help provide a quick view of the effectiveness of any technology deployed in the organization.
This makes it easy to accurately measure and connect the care process with the outcome when presenting data to stakeholders and other executives. Analytics also helps in the process of data gathering to meet the reporting demands for regulatory compliance.
3. Access to Holistic Views of the Enterprise
A well-designed healthcare analytics solution uses sophisticated data warehousing tools to provide integrated and holistic views of the operations of the healthcare provider. This type of solution enables the provider to collect and analyze data obtained from both internal and external sources. These include:
- Electronic health records
- Patient accounting
- Clinical department systems
- Research departments
All the data obtained from different parts of the organization will be held in a single data repository instead of a set of disconnected data silos. Subsequently, analytics software can be used to obtain financial, clinical, and operational performance data and knowledge. Thus, healthcare providers can gather critical data from disparate sources quickly with the touch of a button.
4. Ready-Made Tools and Standardized Formats
Analytics tools make it easy to deliver data in automated or standardized formats. This is enhanced by using ready-made templates for reporting and for instant information collation. The software also allows users to build their custom reports to meet new reporting requirements for internal use or for regulatory compliance.
Learn More About Using Data Analytics Software to Improve Decision Making in Your Organization
Contact Lifepoint Informatics by calling 877.522.8378 today and get a free consultation on data analytics solutions for your healthcare organization. For over 20 years, we’ve developed custom medical software and supplied pre-built solutions for hundreds of healthcare providers. We have over 20,000 completed projects to date.