The healthcare industry has experienced some massive revolutions recently, especially with new treatments, care plans, and overall quality of care. Most of these developments have been enabled by data, which can help inform patient needs on a macro and individual level. There is a massive amount of data generated by this sector – 30% of the world’s total data – so there are lots of further improvements that can be unlocked if this information is used and stored correctly.
However, 80% of healthcare org executives don’t believe their company has the resources to enable proper data use. This is a serious concern because improper data usage can expose companies to a whole host of problems, including reputational risk and lawsuits. Patient care can suffer too, with delayed treatments, medication errors, and misdiagnosis.
Combining fragmented data sources into a single data warehouse is one of the best ways to solve the problem. This method lowers the possibility of privacy violations, enhances data quality, and expedites access to important information for knowledge workers. Building a internally can be a huge lift and require lots of time, money, and resources. However, outsourcing the setup to a third-party vendor can have patient outcomes in as little as 90 days.
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