It has been estimated that as much as 30% of the world’s stored data is generated by the healthcare industry.1 The amount of big data is expected to grow even faster in healthcare than in any other industry, due largely to technological advancements in analytics tools, medical imaging, and increased availability of real-time data such as that used in clinical decision-making.2
The challenge for today’s revenue integrity departments isn’t the availability of data; it’s putting that data to use in meaningful ways.
Today’s organizations need an analytics approach that both illustrates trends and can drive solutions. Consider when doctors meet patients. They might use the patients’ symptoms to glean insights on their condition, but treatment is directed at the underlying problem. A similar approach can be applied to data – does your analytics program track symptoms or diagnose root causes?
By drilling down into the data to not only identify problems but diagnose the root causes of those problems, you can turn valuable insights into actionable solutions. This approach considers how all the underlying factors of an issue drive various key performance indicators (KPIs) and how all those factors, in turn, affect each other. Such an approach would use a valuable KPI dashboard that doesn’t simply follow and monitor trends but also connects disparate data points to help organizational leadership diagnose problems and prioritize efforts to begin making improvements.