Importance Of Business Intelligence In Healthcare

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What is Business Intelligence
To turn any business establishment profitable, the managers & the work force is highly reliant on decisions & those decisions are dependent on the kind of information available. This is where Business Intelligence comes into picture
Business Intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information and also sometimes to the information itself. The purpose of BI is to support better business decision-making.
BI systems provide historical, current, and predictive views of business operations, most often using data that has been gathered into a data warehouse or a data mart and occasionally working from operational data.
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Though, they have lot of data, but information is very less.
There are three broad categories of data that any healthcare organization is interested in : financial, operational & clinical. Healthcare organizations must apply business intelligence to organize clinical, business and operational data for decision-making purposes. This data is used to support programs like disease management, outcomes management, clinical performance and process improvement, cost and waste reduction, quality accreditation and predictive analytics.
Forward-thinking healthcare organizations realize that data—and, thus, business intelligence (BI)—is at the center of informed and precise decision-making that will improve patient and service outcomes in addition to ensuring their organizations’ future, thus, many leading hospitals have already adopted BI

Benefits of using Business Intelligence in a healthcare establishment :-

a. Consolidation & protection of data since there would be a single point access of data Better protection of patient data is also possible by providing access to data only to those with appropriate access
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BI allows providers to improve performance by leveraging evidence-based performance data, tracking variations in quality, providing patient dashboards, setting alerts, and checking drug interactions. Providers can use BI to monitor the quality of their care according to the Health Plan Employer Data and Information Set (HEDIS) standards established by the National Committee for Quality Assurance to allow for performance comparisons across quality, patient access, patient satisfaction, utilization, and financials. Additionally, Dashboard can be used for improving quality at healthcare organizations, which empowers managers to make more timely decisions and participate in on-the-spot quality improvements. BI allows providers to identify the presence or absence of interventions recommended by evidence based

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