Healthcare reimbursements and increasing consumerism have made it critical for healthcare executives to understand and unlock the power of their organizations’ data. Health systems are progressively leveraging their data to eliminate waste, enhance efficiency, and deliver upgraded patient service. For public or private fee-for-service organizations, the market demands competition on clinical, financial, and service outcomes founded on the data examined by providers, payers, patients, and purchasers.
All these factors congregate to the chief information officer’s (CIO) desk as information systems departments are tasked with implementing data in a suitable manner to meet new operational requirements. A majority of CIOs are confronted with new data warehousing overhaul efforts, as their current practices are hampering their adaptation to new payment models and needs.
For successful data implementation, CIOs need to verify that their new data lake is an efficient investment for their executive processes. To deliver value, a data lake requires specific applicability to clinical and business problems. Healthcare organizations require a complete data management system that extracts competitive outcome metrics and delivers actionable insights for them.
Redundant data sources propel high maintenance and operations costs for care organizations. Legacy electronic medical records (EMRs) offer inefficient workflows and a poor user experience that decreases the efficiency of care management, patient appointments, follow-ups, and other care operations. Hospital leadership requires solutions with a strong data lake foundation that rationalize their information technology (IT) expenditures, simplify regulatory reporting for staff, and address the evolving needs of end-users. Here, rationalized and aggregated data sources in a data lake save considerable IT and management costs, and facilitate a wide range of reporting requirements for health systems with bolt-on solutions.
What is a data lake?
A data lake is a consolidated repository for data that allows organizations to research, integrate, and analyze large quantities of information at once. Healthcare organizations may use it to execute clinical analytics using patient data stored in the electronic health record (EHR), or they may refine their financial forecasting by drilling into business intelligence and revenue cycle analytics using claims and billing codes.
Innovaccer’s Data Lake is a connected care framework that centers all healthcare information around individual patients and helps generate actionable information at all points of care. For health systems, it presents a cost-effective business strategy that offers simplified analytics support, accelerated implementation and speed to return on investment (ROI), substantial back-end automation, and a flexible structure that allows the organization to adapt to evolving competitive and regulatory pressures and evolve into the next generation of analytics.
Healthcare organizations CIOs, CMIOs, and CNIOs are shifting to these new systems to better understand and deploy analytics and adapt to new data tools. This update from traditional warehouse strategies is reinforced with the availability of new data sources and new data tools. Let’s understand the benefits that Innovaccer’s Data Lake brings to healthcare organizations:
How can you accelerate your digital transformation journey with Innovaccer’s Data Lake and key accelerators?
Our Data Lake is foundational to an ROI framework that minimizes the health system’s investments by realizing cost-saving opportunities within IT infrastructure. It is the most cost-effective data archiving solution that deploys a variety of use cases to realize productivity, efficiency, and quality impact for physicians, care coordinators, and healthcare leadership.
While most data platforms have predefined formats for data ingestion, Innovaccer works directly with the hospital’s source systems to integrate data into its proprietary Data Activation Platform (DAP). Our solution provides end-to-end ownership of healthcare data management and its applications.
Our Data Lake architecture provides 200+ pre-built connectors to allow hospitals to onboard and test data in just twenty weeks. With intelligent algorithms, our platform delivers deep AI- and ML-powered predictive insights to drive the hospital’s operations. Let’s understand the key accelerators on Data Lake that work to transform healthcare data for clinical and business insights:
As Innovaccer aggregates data from multiple sources, health systems can create longitudinal records for patients from various data sources. Innovaccer’s master patient index (MPI) algorithm creates a unique MPI for each patient and allows providers to identify duplicates by matching the MPIs across patients, thereby minimizing duplicate patient records.
Processed and clean high-quality data, available in the integrated data lake, can be accessed through Innovaccer’s library of pre-built APIs, leveraged to power custom-built applications. Later, DAP’s Enterprise Master Patient Index (EMPI) engine helps uniquely identify members (patients) across disparate healthcare IT systems, which is imperative for any downstream applications. DAP employs our proprietary Bayesian-based flexible matching algorithm that produces more than 95% accuracy every time.
Stay tuned to learn more about how Data Lake has helped large organizations pick pace on their digital transformation journey, and build impactful solutions on it within weeks! We would love to hear from you, write to us at email@example.com