Marketing, media and businesses are being forced more and more to live on a tighter budget and to prove their worthwhileness as part of continuing. This has forced anyone working the books to demonstrate the correlation between things like advertising and sales. But with a growing market in just about every industry and the reliance upon verifiable data, experts have been forced to move from educated guesses to concrete proof, which is much easier said than done. One of the biggest obstacles is that stored data isn’t always located at one site, sometime due to the shear amount of data being gathered. This is a huge dilemma especially within an industry as large as healthcare.
The fact that each of us as some point becomes a patient isn’t a bad thing; many of us seek out our doctor for yearly physicals or try to stay on top of illnesses. As we do this, we are adding to the vast amount of data being created. All this data cannot simply be stored on a general server or a number of siloed locations because it serves very little purpose, doesn’t necessarily fit on traditional databases, and provides no actionable information when spread out. The answer is found in enterprise data warehousing (EDW) where data is stored and available in a single place. This allows for analyzing and making data-driven decisions.
For all those that have had to write reports, conduct research or seek out detailed information in the time before there was Internet understand that many times all the information you were searching out was not housed at one scene like a library. The same is true when moving from individual databases, possibly at each office or location, and combining to create a single-source, single location data source. With everything from medical history to billing and insurance in one area, the ability to find “reliable and repeatable” data is possible.
Especially within an industry that is so vast and complex, being confident with the information you are receiving, along with the abilities of timeliness and accuracy, allow you to make better decisions, make fact-based decisions, avoid prolonged conclusions and even predict necessities within the organization. This exact strategy has been implemented by Crystal Run Healthcare of New York. In order to be more successful, to improve patient care, cut costs, and travel down a more evidence-based route, they have taken the steps to implement things like the EDW, population health management and single-source data system. Crystal Run is just one of many accountable care organizations (ACOs) that is moving as far away from educated guesses and toward value-based care.
In the fast-paced environment we all live in, and with the ability to change old ways of doing business, we have no excuse to not increase how businesses are run. Exchanging the piecemeal way of storing and retrieving data is only one step, but is one that improves that way information is handles and the accuracy in which data is now presented. In an industry that depend so highly upon accuracy and timeliness, healthcare has seen and will continue to see growth that can only be found within a single-source data model.