Healthcare Industry Free Essays

The global healthcare industry is expected to grow at a CAGR of 24.7%. This is made possible by the leveraging of various analytics tools and practices by the healthcare providers for improving their operational efficiency. We will write a custom essay sample on Healthcare Industry or any similar topic only for you Order Now Source: http://www.thehealthcareanalytics.comUnited States is at the front of the growth, accounting for 65.84% which can be attributed to country’s substantial investment in healthcare. Europe and Asia are on a path of steady growth with increased expenditure on technology, R;D and the emergence of Big Data. Source: http://www.thehealthcareanalytics.comThe volume of data available is expected to be increasing at an exponential rate in the years ahead. Current cumbersome techniques of evaluation will soon have to pave the way for advanced analytics. These techniques, which have the ability to process, act on, manage and distribute data from variety of sources, will become the backbone of the healthcare sector. With this evaluation, the vast health data will be better understood and more effective, real time, specific decisions can be taken. Source: http://www.techferry.com Current SituationBefore discussing about the future, it is important to reflect upon the current scenario. After the introduction of Electronic Health Records (EHR), amount of data collected have gone up significantly, creating meta data that can be used for querying. Healthcare organizations have resorted to analytical tools to improve the efficiency of patient examination. With a wide range of information about patient’s history, genetics and demographics, more customized quality care could be provided. More and more venture capitalists have started investing into healthcare analytics. However, healthcare organizations are a long way from making effective use of such information. Proper understanding about the vast applications of such a resource is still scarce. Differentiating between quality data and noise has been becoming more and more difficult. High cost of analytic solutions and lack of skilled professionals have been a pain point in many organizations. Leveraging bigdata analytics in healthcare Patient profile analytics: Analytics can be applied to the existing patient profiles to identify those who may need preventive care. Patients who are at a risk of developing a disease like diabetes can be helped with lifestyle changes and preventive care. Public health: By analysing the large amount of data available, disease patterns can be identified and outbreaks can be predicted by finding various correlations among the data points. Resource management: With the development of location tracking technologies like RFIDs, patients, staffs, instruments and other resources in the enterprise can be effectively tracked and managed on a real time basis. Fraud analysis: Hospitals on a daily basis receives large number of insurance claims. With the help of big data analytics, valid claims can be segregated out reducing wastage of time and resources. Genomic Analytics: Genes of an individual and high-powered computing are combined to produce personalized treatments for each patient. Genetic disorders can be identified and target therapies can be developed. Real-Time health care: Various mobile applications are being developed that help individuals to manage their care in a personalized manner. Wearables are being developed that can effectively track the safety and monitor the conditions in real-time by analysing the large volumes of fast moving data. R D: Predictive modelling and statistical methods can be used to improve clinical trials and finding the follow-on indications. Trial failures can be reduced and new product development can be given the push it demands. Concerns and mitigation strategies Data Integrity: The data in many situations comes from places with questionable data governance standards. Obtaining data that meets with the standards required for accurate use is one of the major ongoing battles in organizations. Lack of understanding of the usage of EHR (Electronic Healthcare Records) and importance of capturing quality data further adds to the lack of data quality.Future: Improvements in data capture by prioritizing valuable data types and educating clinicians about how to ensure that data is useful for downstream analytics are some of the ways forward. Filtering: Presence of inaccurate unwanted data (noise) can derail the effectiveness of the analytics system. The data, which comes from disparate data sources in multiple formats, unless acted upon properly will lead to inconsistency. Though Data cleaning, process of ensuring the datasets are consistent, accurate and relevant, are being done, most organizations still use inefficient manual methods. Future: IT vendors are now coming up with applications which use machine learning that use rules to filter and segregate data, which will make the process effective and affordable Storage: With the latest developments in technology, amount of data being generated and captured is increasing at an alarming rate. Even though most enterprises currently prefer on premise data storage which has the advantage of having better control on security and access, it has become difficult to modify, scale and adapt to situations.Future: Many organizations are slowly shifting to cloud storage and various hybrid approaches to store their data. This provides a highly scalable, cost effective solution which provides ease of access. Security: With the recent episodes of high profile hackings, security breaches, ransomwares etc security has become a huge concern in this technological era. From a small action like leaving the laptop unsecured to highly sophisticated hacking, data is not safe in spite of many initiatives being taken.Future: Employees are being educated in transmission security, authentication protocols, and controls over access, integrity, and auditing. Procedures such as using latest anti-virus software, setting up firewalls, encrypting sensitive data, and using multi-factor authentication are some of the ways to prevent security attacks. As we move forward in 2018, organizations will have to analyse much more complex and high-volume data. With the development of customized, highly efficient data analytics practices, organizations can make sense of the data and use it for providing efficient personalized care. Data integrity is bound to become the most important factor as effectiveness of data analytical methods are dependent on incorporation of error free, relevant data from quality sources.References1. http://www.thehealthcareanalytics.com 2. How to cite Healthcare Industry, Papers Healthcare Industry Free Essays The Health Care Industry University of Phoenix HCS/449: Marjorie Romano Stephanie Wade March 11, 2013 Health Care Industry Pg 1 In my paper I will discuss issues pertaining to the Health Care Industry, changes that have taken place in the way that is received. Over the last 10 years heath has changed drastically, our adolescents are living longer now (Imperial NHS, 2011). Treatment and recovery times are faster than before such as cataract surgery, (Imperial NHS, 2011), outpatient surgery. We will write a custom essay sample on Healthcare Industry or any similar topic only for you Order Now Technology plays a huge part in Health care; advancements in computers, individuals are networking through communication more due. (Kevin MD, 2011, p. 1) there are many individuals that are able to stay home, instead of living in nursing homes, like before. They have caregivers to help them with services, such as bathing, dressing, cleaning, and cooking. Health care is improving all the time for many years to come. What do you think will be the biggest change in health care in the next 10 years? There are many changes in healthcare that will take place over the next 10 years is the way that technology has advanced in treatment and the way drugs help to kill viruses and repair cells so they do what they are supposed to do in an individual. (Wells, 2012, p. 1. ), One of the biggest changes to health care industry is Obama care because it is going to allow individuals that do not have heath care will have health care, Some aspects of Obama Care health care reform are already enacted. The Patient Protection and Affordable Care Act were signed in 2010, and over 100 million Americans have already benefited from the new health care law, (www. obamacare. com). The role I will in the health care industry is helping others individuals to receive the best care possible. My goals are to incorporate the skills that I have learned into assisting or being an administrator of a hospice facility. My responsibilities will be making sure my staff and patients Health Care Industry Pg 2 are treated respectfully. I will make sure that my staff is treated in a professional manner and have what they need to perform their jobs actually. I will make sure that the residents and the patients have everything they need to get treated, properly. I would adapt my skills to change with the health industry’s needs by, going to training courses that help with learning skills to administered needs, to help with reassuring the organization is running efficiently, and also take other coursed related to health care management. I can do research on the internet, or read magazines, or newspapers, to make sure that everything is in proper order, with the organization and the patients/residents. Has your perception of health care changed over the course of your program? Everyone’s perception of heath care is different; over the course of the program my perception of health care was just taking of the patients. That is important; however, there is more to it than that. There are many things to consider, concerning health care. A few things to consider, which I thought was the most significant would be â€Å"the health care costs, health care access, and the outcomes from it† (Academy Health, 2009, p. 1). There needs to be a consideration of â€Å"how to increase the capacity of the health care services† (Academy Health, 2009). Before, I did not think that there are supported programs, which would help those, unable to afford treatments and medication. However, I discovered that there are several programs, which not only the elderly population can benefit from, but also, the nonelderly, as well, such as â€Å"programs to help those, which lose his or her job and can, still be able to get treatments, which is good. There are so many things I have learned about this program, which I didn’t know before. This will come in very handy, with my future job. Technology has played a major role in the health care industry, new equipment and the way Health Care Industry Pg 3 treatments is delivered, which will benefit the health organization and the patients/residents, highly. In the next ten years, it will play a vital role in health care. It will help to â€Å"ensure the compliance in the legal requirements of health care and it will help to reduce the costs and provide better care than before† (Finnegan, 2012) Technology will help with providing more â€Å"communication systems, electronic medical records, and more computerized physician order entry solutions at a fast speed than before† (Finnegan, 2012). Over the next 10 years, I feel there will be a strain on the health care industry, because of many baby Boomers reaching retirement age† (Experience, 2012, p. 1). This will have an economic problem as well because with the baby boomers reaching retirement age, he or she are going to be needing long-term care services, themselves, and that means hiring new caregivers and paying for them to get trained, properly, for the job. This could take a while and in the meantime, the patients or residents need good quality care, right away, so this will put a huge financial and economic strain on health care industries, in the next 10 years. Over the next 10 years the financial and economic issues will affect the health care industry and will be a are a big part of the community. In the future there will be big changes, that we will have to adapt to. Changes in the future are things that- we will have to adapt to, There are around 44 million Americans who currently are unable to get health insurance. The Obama Care will help individuals to get health insurance through expanding Medicaid and Medicare and offering assistance to Americans who cannot currently afford healthcare. www. obama care). References Floren, J. , (2012) Experience Healthcare Baby Boomers: Health Care Crisis. Retrieved on March 11, 2013 from http://www. experience. com/alumnus/article? channel_id=biotech_pharma healthcaresource_page=editor_picksarticle_id=article_1175788214988 Flower, J. (2012) The Change Project. The Future of Health Care. Retrieved on March 11, 2013 Henderson, F. (2012) Finnegan Health Care. Technology: A vital role. Retrieved on Mar ch 11, 2013from http://www. finnegan. om/HealthcareITIndustry/ Pho, K. , M. D. (2011) Med Page Medical. Social Networking. Retrieved on March 11, 2013 from http://www. kevinmd. com/blog/2011/09/social-networking-changed-landscape- health-care. html Stonewall, D. , (2011) Imperial College Health Care. How Health Care has changed. Retrieved on March 11, 2013 Wood, R. (2009) Health Care Financing and Organization. Impact of the Economy on Health Care. Retrieved on March 11. 2013 www. ObamaCare . Retrieved on March 11, 2013 How to cite Healthcare Industry, Essay examples