How Big Data can influence decision making in Healthcare Industry

By Smita Kumari |Email | May 10, 2018 | 9375 Views

Now a day a large amount of data is generated by billions of people using internet, mobile phone, computers, GPS, censors, medical devices. These data provide ample of opportunity to them who can exploit its benefit.

Analyzing the great potential of Big Data in health care industry, Doctors, Researchers, Scientist and other stakeholders are trying to real world evidence to influence their decision making. Healthcare industry is experiencing a rapid movement towards a new world where focus will be on value and outcomes.

Traditionally, the medical system tries to cure the patient with periodic interaction and episodic intervention. Now, they are realizing the significant influence of environmental and external factors in decision making and focus on continuous process and interaction to cure the patient.

To fully understand exogenous factors, healthcare industry is adopting technology advancement to gather real-time data. Researchers identified the sources from where organization can gather real world time data such as electronic medical records, patients claim and billing data, registration and records of various diseases, medical devices and user personal devices. Data received through emerging social media and cross industry collaborations are expanding the spheres of real world evidences in healthcare industry.

Researchers believe that the data received on real time basis can improve the decision-making ability when combined together with the historical data. As the traditional approach of decision making process has the limitation that historical outcomes cannot be fully generalize with masses.

Many developed countries have prepared a large database containing information of millions of patients and they are trying to extract valuable insights from unorganized data available to them. The biggest reality in todays that all key stakeholders in healthcare industry rare contributing to and responding well to impact the decision-making process viz. physicians, patients, regulatory body, pharmaceutical companies etc.

Working on these data have improved physicians research on patients. The regulatory body are trying to create unified system or supervising the safety of medical products which are marketable by using integrated system of data collection through electronic medical records a and claims data. Researchers are benefiting themselves with real world evidence in terms of improving their operational knowledge, capacity for pragmatic research.

The data gathers on real time basis has improved the standards and quality of services to the patients by medical practitioner and healthcare companies. To improve decision making capability using real world evidence, the health care companies require people with depth knowledge of data gathered and analytics. A medical practitioner with strategic vision can implement a medical case into real world evidence or future refences in decision making.

The data received on real time basis has significant impact on decision making, its benefits need to be understood by different stakeholders to have more contribution they also need to understand risk and benefits associated with sharing such personal data. In United Kingdom the medical practitioners are very much concerned about data privacy while real world evidence.

With the growing awareness, despites these issues, the implantation of data gathered on real time basis is increasing to make their process more organized and ensure cost effective decision to provide value to different stakeholders.

Source: HOB