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Nearly 80% of Healthcare Execs Investing More in Big Data, AI

Happy 2019 everyone, here is a good article on how Big Data and AI are gaining a lot of executive attention in the health care space. Some article highlights from Health IT Analytics…

  • nearly 80 percent of healthcare participants also reported a greater urgency to invest in advanced analytics capabilities

  • nearly 80 percent of data analytics leaders said their organizations still struggle with big data analytics and AI adoption, with 92.5 percent naming cultural and organizational resistance as major barriers

  • 91 percent of respondents said business transformation, agility, and competition were spurring additional spending, while just 4.8 percent named cost savings as the driving factor

  • Among healthcare respondents, concerns over disruptive forces and competitors were a major motivator for investment, with 78.6 percent citing this as their main reason for increased spending

  • AI and machine learning proved to be the priority for investment, with over 96 percent of executives saying their organizations are spending more on these solutions

  • Cloud computing is also a major area of focus, with 90.5 percent of executives reporting increased spending in this domain

  • Blockchain has emerged as an innovative solution to big data challenges, only a small number of healthcare organizations reported increased investments in the technology

Artificial Intelligence in Community Health Center Operations

Jonathan Lee, CEO of Signature Health, and I had the pleasure of speaking at the National Association of Community Health Centers (NACHC) Finance, Operations Management, & IT (FOM/IT) conference in Las Vegas a few weeks ago.

We talked through some practical ways for every sized health care organization to start using AI to improve their operations.

A key theme is that “Any organization can use AI, and every organization should”

What would you do if you could Predict whether your patient was going to show up at the time you made the appointment?

We step through how advances in Big Data, Artificial Intelligence, and Cloud technologies make this accessible to everyone - something not possible 3 years ago.

We discuss how to add AI to your arsenal with some practical steps to generate a positive cash flow experience with a suite of targeted “AI apps”.

For a copy of this presentation, please reach out to info@hcanalytics.net.

2017 Predictive Analytics in Healthcare Trend Forecast

The Society of Actuaries has put together a nice survey focused on predictive analytics for the healthcare space - some key points are:

  • 93% say predictive analytics is important to the future of their business

  • 89% of providers currently use predictive analytics or plan to begin in the next 5 years

  • 47% of providers currently use predictive analytics

  • 57% of executives forecast predictive analytics will save their organization 15% or more over the next 5 years, with 26% forecasting saving 25% or more over the next 5 years. (Among respondents whose organization currently uses predictive analytics)

article dated 2017