Total health care spending in the U.S. is expected to reach $3.3 trillion by 2015. As the health care industry continues to move toward value-based care models, such as accountable-care organizations (ACOs) and patient-centered medical homes, data-driven technologies are playing an increasingly important role in helping bend that cost curve. According to McKinsey, Big Data analytics has the potential to save the U.S. an estimated $300 to $450 billion per year.
More specifically, data-driven technologies that help health care organizations address challenges related to population health and decision support, including hospital readmission rates, care coordination, disease prevention and patient adherence, are predicted to make up approximately 60 to 70 percent of cost savings. As risk-bearing entities begin to realize the value of data analytics tools, they are shifting from simply collecting data to really understanding the data and making it actionable at the point of care. Having immediate access to this critical patient information allows clinicians to deliver the right interventions to the right patients at the right time.
In this slideshow, Healthline shares five strategies for leveraging Big Data analytics to turn health data into actionable insights and improved outcomes.
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