IS THE HEALTHCARE INDUSTRY MOVING FAST ENOUGH?
1
[1] TDWI Healthcare Services Study 2017 | TDWI, a division of 1105 Media, Inc. 1 - https://tdwi.org/research/2017/11/aa-all-oracle-checklist-report-7-industries-using-analytics-for-businessvalue.aspx?tc=page0&tc=assetpg&tc=page0 See for example, http://www.nic.org/blog/readmissions-medicare-whats-the-cost/ [2] NTT Data, Trends in Telehealth http://americas.nttdata.com/Industries/Industries/Healthcare/~/media/Documents/White-Papers/Trends-in-Telehealth-White-Paper.pdf [3] BI Intelligence and Business Insider, Internet of things in healthcare http://www.businessinsider.com/internet-of-things-in-healthcare-2016-8 [4] Advisory Board, Google Flu Trends shows promise https://www.advisory.com/daily-briefing/2014/11/12/google-flu-trends-shows-promise-peril-of-big-data [5] Health Inf Sci Syst., Big data analytics in healthcare: promise and potential https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4341817/#CR24 Copyright © 2018, Oracle and/or its affiliates. All rights reserved. Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners. The healthcare industry is changing to a value-based model of care and one that is increasingly consumer driven. Here’s how the industry is moving forward. IS THE HEALTHCARE INDUSTRY MOVING FAST ENOUGH? KEEPING READMISSION COSTS DOWN IS A PRIORITY Roughly two million Medicare patients are readmitted to hospitals each year, costing billions. $ 17 DATA ANALYTICS TELLS THE PATIENT STORY PREDICTIVE ANALYTICS WILL DRIVE EFFICIENCIES Telehealth, IoT and wearable devices for healthcare will need advanced analytics to interpret vast amounts of data BETTER CARE AND LOWER COSTS IS A WIN-WIN Data analytics can help U.S. healthcare save over $300 billion per year. $300 billion per year of patients are comfortable communicating with their doctors via text and video. 2 Predictive analytics will enable 80% of daily tasks handled by doctors now to be handled exclusively by technology systems. 4 Clinical Operations ( $ 165 billion wasted): Treat and diagnose more accurately and quicker. 5 Research & Development ( $ 108 billion wasted): Streamlined approach, from drug development & vaccines to genomics & device/remote monitoring. 5 The top areas of savings fall in two buckets: million healthcare related IoT devices are forecasted to be used by the year 2020. 3 70% 646 $27 billion out of the billion in Medicare readmission costs is potentially avoidable. 1 SUMMARY GO TO: ORACLE.COM/BUSINESSANALTYICS To learn more and download a free trial. Find out more how data analytics can make an impact The healthcare industry is changing rapidly and a value-based healthcare system will depend heavily on data analytics in order to realize lower costs and better health outcomes.
Transcript of IS THE HEALTHCARE INDUSTRY MOVING FAST ENOUGH?
[1] TDWI Healthcare Services Study 2017 | TDWI, a division of 1105 Media, Inc. 1 - https://tdwi.org/research/2017/11/aa-all-oracle-checklist-report-7-industries-using-analytics-for-businessvalue.aspx?tc=page0&tc=assetpg&tc=page0 See for example, http://www.nic.org/blog/readmissions-medicare-whats-the-cost/[2]NTT Data, Trends in Telehealth http://americas.nttdata.com/Industries/Industries/Healthcare/~/media/Documents/White-Papers/Trends-in-Telehealth-White-Paper.pdf[3]BI Intelligence and Business Insider, Internet of things in healthcare http://www.businessinsider.com/internet-of-things-in-healthcare-2016-8[4]Advisory Board, Google Flu Trends shows promise https://www.advisory.com/daily-brie�ng/2014/11/12/google-�u-trends-shows-promise-peril-of-big-data[5]Health Inf Sci Syst., Big data analytics in healthcare: promise and potential https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4341817/#CR24
Copyright © 2018, Oracle and/or its affiliates. All rights reserved. Oracle and Java are registered trademarksof Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
The healthcare industry is changing to a value-based model of care and one that is increasingly consumer driven. Here’s how the industry is moving forward.
IS THE HEALTHCARE INDUSTRY MOVING FAST ENOUGH?
KEEPING READMISSION COSTS DOWN IS A PRIORITYRoughly two million Medicare patients are readmitted to hospitals each year, costing billions.
$17
DATA ANALYTICS TELLS THE PATIENT STORY
PREDICTIVE ANALYTICS WILL DRIVE EFFICIENCIES
Telehealth, IoT and wearable devices for healthcare will need advanced analytics to interpret vast amounts of data
BETTER CARE AND LOWER COSTS IS A WIN-WIN
Data analytics can help U.S. healthcare save over $300 billion per year.
$300 billion per year
of patients are comfortable communicating with their doctors via text and video.2
Predictive analytics will enable
80% of daily tasks handled by doctors now to be handled exclusively by technology systems.4
Clinical Operations ($165 billion wasted): Treat and diagnose more accurately and quicker.5
Research & Development ($108 billion wasted): Streamlined approach, from drug development & vaccines to genomics & device/remote monitoring.5
The top areas of savings fall in two buckets:
million healthcare related IoT devices are forecasted to be used by the year 2020.3
70%
646
$27
billion out of the
billion in Medicare readmission costs is potentially avoidable.1
SUMMARY
GO TO: ORACLE.COM/BUSINESSANALTYICS To learn more and download a free trial.
Find out more how data analytics can make an impact
The healthcare industry is changing rapidly and a value-based healthcare system will depend heavily on data analytics in order to realize lower costs and better health outcomes.
