In healthcare, where the stakes are incredibly high, the speed at which we can share, process, and act on data significantly influences patient outcomes and brings success in value-based care arrangements. A recent survey found that only 47% of organizations are using data aged less than 24 hours for working care gaps, and just 39% of organizations use similarly recent data for patient stratification and building cohorts. Stale data can mean inadequate care and missed opportunities to manage medications or chronic conditions. It also means higher operating costs, as support staff use inaccurate chase lists for patient engagement and routine preventative care like vaccines and screenings. Patient outcomes, operational efficiency, and financial health are all functions of data velocity.
Data isn't a byproduct of operations -- it's a critical asset that can make the difference between scraping by and stellar performance. Below, I'll discuss why data velocity should be top of mind for every healthcare organization, and how you can tailor the flow of data to meet your needs.
How high-speed data powers high-impact healthcare
Where data freshness is paramount when a quick reaction matters most, there are also instances where static or highly selective data can help eliminate unnecessary noise. Data analysts, for example, can afford to wait out "frothy," less organized data, opting instead for cleaner retrospective-based insights. Claims, for example, can trickle in slowly, so a picture will be more complete with data that's one month old than it is this week.
One way to control the data accelerator is through a data analytics platform. The ability to create custom reports means organizations aren't stuck with what comes out of the box and can dial data recency up or down based on their specific needs. A data analytics platform also offers lineage and transparency, meaning organizations can trace and contextualize data-driven insights, looking backward at how and when they emerged and from what source.
High-quality, efficient healthcare requires data that's delivered rapidly to the teams and providers who need it most. High-velocity data reduces wasted time and shortens the window from insight to action, improving performance from BI spreadsheets to patient bedsheets. It's time to merge into the data fast lane.
About Nick Stepro
Nick Stepro is the Chief Product and Technology Officer at Arcadia, where he leads the design of the next wave of advanced healthcare analytics applications. He's currently focused on evolving the architecture of the company's next-generation healthcare data platform to simplify the continuous acquisition and orchestration of petabytes of data and millions of patient records across the modern healthcare enterprise.