This presentation looks at the role of Big Data with Healthcare. Healthcare is big spending area for both the private and public sector as such it is important to look at ways to improve the delivery of healthcare to patient care.
2. Author / Bio
September
9, 2014
• Paul Young, CPA, CGA
•SME – Financial Performance Management (TM1, Cognos Controller
and Cognos Disclosure Management, OpenPages, Algorithmics, Cognos
Integrated Server, Cognos Command Center and Datawatch)
•Industry Experience
•15+ years in Corporate Reporting, Budget & Forecasting, Costing,
Business Process Management, Internal Audit and Controls, Risk
Management, Financial Analysis, Costing
•11+ years in financial solutions (FOPM, FPM, Risk, Office of the
Finance, Risk Management)
•8+ years teaching Advance Finance, Advance Accounting, Public
Finance and Advance Management Information Systems
•Blogger in areas like Finance Analysis, Government policies, market
segment
3. Healthcare and Big Data
Key areas of focus
• Workforce Optimization
• Clinical and Financial Performance Management
• Understanding the true cost of healthcare
Source - CFO.com – May 26, 2017
4. Issues facing healthcare
• Reducing the wait times
• Government funding lock up in the system
• Drug costs
• Labor costs
• Aging Population
5. What is happening in the market?
For example, Google’s Verily division is developing wearables and
analytics for timely decision-making and care interventions.
Walgreens’ partnership with telehealth provider MDLive offers
consumers virtual services in 43 states, soon to be nationwide.
IBM Watson Health is applying big data and cognitive computing
to create personalized health and health-care protocols.
Source – CFO.com – May 27, 2017
6. Transforming Healthcare with Cognitive Solutions
According to a recent Gartner study, there will be approximately 8.4 billion connected
things by the end of 2017 – more than the entire human population – setting the stage for
20.4 billion Internet of Things (IoT) devices (such as Fitbits and other wearables) by
2020. This means that data will be even more embedded into our lives.
How can we leverage that data to improve clinical development processes, to unlock
personalized insights, and to drive growth and achieve success across the entire
healthcare ecosystem? We must recognize data for the resource it is.
By analyzing high volumes of data, IBM Watson Health is helping to improve the ability
of doctors and researchers to innovate by deriving insights from the massive amount
health data being created and shared daily. Last year, IBM Canada announced a
partnership with Hamilton Health Sciences in Ontario to create a centre entirely
focussed on healthcare innovation.
Source – IBM- May 12, 2017
7. Summary
• Government will need to be involved with automation of solutions to
better managed healthcare data
• Government needs to look at automated ways to handle the flow of money
as well as look at ways to better analyzed performance
• Private healthcare need to continue to look at both cost as well as efficient
delivery services
• Big Data and IoT will continue to transform healthcare. Both private and
public sector healthcare providers need to improve their IT infrastructure
to better support information flow between patients and providers.