Can Big Data Help Provide Affordable Healthcare?
Big Data and data analytics have become a major game changer in every field of work ranging from healthcare industry to the judicial department. With the ever-increasing amount of data that is being produced, it is becoming easier to obtain useful analytics from the data. One of the major factors that has been fuelling the growth of data is the expansion of the Internet of Things devices.
Here we shall have a look at the effect that big data analytics will be having on the healthcare industry and what can be expected from it in the future.
The massive expansion in the market of health devices is one of the major boosters for the data analytics marketplace. There are all sorts of trackers which include tracking a person’s sleep, heart rate, calories burnt in exercise, distance walked and what not. These trackers generate huge amounts of data which can be then analysed to predict and thus prevent any illness that could possibly occur. This will help people live a better life. As is said prevention is better than cure.
Helpful for the high-risk cases:
If the health data is available on the go, it helps in providing better treatment to the high-risk patients. In case of serious illnesses this acts as a game changing factor and could even have life-saving consequences. With the increasing digitalisation of hospitals, the doctors could make batter decisions on whom to prioritise the treatment on and what treatment must be provided. This works good for both the doctor and the patients.
Humans err machines don’t:
This is another important factor for the rapid growth of data analytics in the healthcare sector. There are chances that errors could happen by even the best of doctors. Errors such as prescription of wrong medicines can be resolved to a large extent by using software to keep track of the situation. This system can be particularly helpful for doctors who cater to a large number of patients in a day.
How Big data can help in cost reduction?
Big data can be very helpful in reducing the costs to the hospitals. One of the methods of cost reduction would be to predict the exact amount of staff that would be required for the prefect operation of the system. This can be done by using the data analytics of the admission rates and the previous data on the workloads. This can help in 2 ways, first it can prevent the overburdening of staff if the staff present are less than those required, and secondly this can prevent having too many staff and thus increasing the cost to the hospitals, which in turn increases the cost to the patients.
This also helps the insurance industry as they can obtain accurate data on the ailments of the patients.
This reduces the costs to the patients in turn as when the costs of the healthcare organizations are reduced, they in turn pass on the benefits to the patients. It is to be seen as on how soon the industry adopts to this trend.
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