How Data Analytics Contributes to Healthcare Sustainability

Healthcare is one of the many industries greatly benefited by technological advancements – from modernized equipment and procedures to the rise of telemedicine and AR in practice. When it comes to analyzing large volumes of patient information, hospitals and healthcare providers also began relying on new software and technology to make the process easier and more efficient.

Through the years, the healthcare system has been increasingly data-reliant which made data analytics a crucial part of the industry. It is used not only for data collection but also in creating comprehensive reports and converting them into relevant insights that in turn can be used to support decision-making and improve overall patient care. Moreover, data analytics in healthcare is important in predicting and solving problems, assessing treatments, and increasing patient engagement.

When it comes to sustainability of your healthcare business, here are some ways data analytics can be advantageous for you.

Lessen errors

Human error cannot be prevented when handling large amounts of patient information and other data. More than 80% of medical bills have errors, which may lead to more rejections, increase in insurance and claims costs, and ultimately, decrease in patient satisfaction that can directly affect your revenue.

Through data analytics, however, these errors can be prevented and even fully eliminated using an organized system for denial mapping review and categorization that accounts for a more effective and accurate analysis of patient data.

Enhance patient care

The end goal of any healthcare business or provider is to serve its patients the best way possible. And with the aid of data analytics, processes are improved and errors are reduced, resulting in better service. Procedures such as setting appointments, processing insurance claims, and issuing medical bills are simplified, which cuts the waiting time for patients and leaves them more satisfied with the service you provided.

Data analytics also helps you offer more personalized treatment to your patients as well as guarantee minimal readmissions due to medical errors or misdiagnoses.

Reduce administrative costs

With the help of data analytics, healthcare businesses can streamline administrative tasks and allocate its staff to where and when they are most needed. Aside from maximizing your manpower, this also free up funds that can be used in improving other services. Just like what is mentioned above, improved processes especially in approvals and reimbursements can also ease tight cash flow – a common problem for hospitals and clinics especially in this time of a global health crisis.

Why high Net Promoter Score equates Operational Excellence

When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Outsourcing data analytics

When it comes to building your data analytics team, outsourcing is one of the best choices to make due to its numerous benefits. A good outsourcing partner promises for the following:

Operational excellence
Build a great, high-performing R&D support team specifically designed for your security needs
Operational cost savings of up to 70%
ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.