Many hospital systems have the reputation of either embracing or resisting new technologies. It is true that the costs of funding and training staff create legitimate funding concerns. It’s understandable why there are existing barriers to enterprise-wide adoption of new innovations in hospitals, but the long-term benefits and cost savings far outweigh any operational or financial concerns. Many hospitals now recognize that technological advancements related to client websites and data analytics provide exclusive benefits and savings.
Research conducted by the National Institutes of Health (NIH) reveals that health care organizations like hospitals are taking advantage of the benefits of big data. For example, big data improves clinical operations through comparative analysis of care effectiveness, clinical relevance and cost-effectiveness. In-depth data analysis helps hospital research and development through predictive modeling, which lowers attrition rates and streamlines production pipelines, and statistical tools and algorithms that improve trial designs and patient recruitment.
Data analytics helps hospital administrators to better manage public health by identifying disease patterns and outbreak trends. Hospital administrators can transform patient data into actionable information that can be used to provide new services and update care processes. Big data is being used by hospitals to increase the effectiveness of evidence-based medicine practices. Hospital administrators can analyze unstructured data regarding clinical, outcome, financial and operational data to provide more efficient care.
Data Analytics and Hospital Administration
Health care executives now have universal access valuable operational and financial data. This means that they can better understand critical systems like accounts receivable and accounts payable. Efficient data management and tracking tools now helps hospital administrators to accurately document revenue cycles and trends in order to produce objective cost metrics. The costs of health care are still increasing, but the new Affordable Care Act (ACT) is causing small to medium sized businesses to cut back on employee benefits.
As a result, many working adults now may receive less than adequate health care insurance coverage. Hospitals that properly manage patient account policies and operational expenses will be able to offer competitive prices and quality patient care. Data analytics helps hospital administrators to extract actionable insights from complex financial reports. Hospital administrators with human resources responsibilities will improve employee and organizational performance through better understanding scheduling needs and staff strengths and weaknesses.
Hospitals consume massive amounts of energy in order to continually provide lifesaving services. For example, ambulances rely on electric power to operate vital medical equipment for patient care during transports. The need for electric power requires ambulance drivers to continuously idle their engines, which produces harmful emissions and causes costly fuel bills and engine repairs. The exhaust chemicals produced by vehicles, such as nitrogen oxide and sulfur dioxide, are inhaled by EMTs and patients being transported. These toxic chemicals have been linked to the development of asthma, cancer and heart disease.
The consequences of engine idling have motivated many hospital systems to adopt idle reduction technology for ambulance fleets. This innovative idle reduction technology allows EMTs to operate equipment for hours at a time without relying on fuel. This decreases fuel and maintenance costs while reducing harmful emissions and unhealthy side effects. The ROI for standard idle reduction technology will take less than one year to realize.
Centralized Hospital Information Systems (HIS) are reducing IT costs by offering lab and radiology reporting and archiving functions. This means that patients getting regular checkups will still benefit from PACS system functionality. As hospitals continue to embrace new technology, operational efficiency, resource optimization and staff productivity will naturally improve. This will improve the bottom lines for hospitals while streamlining patient care, billing cycle and continuous improvement systems.