Healthcare organizations nationwide are challenged to unlock the transformative potential of their data and analytics. Join this conversation with Huron Managing Director DJ Skalsky to learn best practices for establishing a holistic data management strategy. Listeners will be given key questions that will benchmark their organizational effectiveness in data management, utilization, and strategy. Learn how leading organizations effectively operationalize data by aligning teams and operations around their strategy. With an effective approach in play, discover how to shift from data management to predictive modeling using AI and machine learning to reduce healthcare costs, improve care quality and address SDoH. This episode is sponsored by Huron.
Summary
Unlocking the Transformative Potential of Data in Healthcare Organizations - Huron's Best Practices
The Challenge of Healthcare Data
Healthcare organizations nationwide are challenged to unlock the transformative potential of their data and analytics. With the help of Huron Consulting Group's Managing Director, DJ Skalski, healthcare organizations can establish a holistic data management strategy that can help organizations address their most significant challenges. The speaker shares the best practices for unlocking the latent potential of data and analytics for healthcare companies, which includes establishing an effective data management strategy.
Establishing a Holistic Data Management Strategy
According to Skalski, the most challenging challenge in data and analytics is culture and governance. Healthcare organizations need to be responsible for the data and proactively design their data strategy around the problems they want to address. Organizations must also create a culture of operational ownership by asking specific questions about data stewardship, indicators for decision-making, and core enterprise architecture to understand their maturity level. Huron Consulting Group stresses that to make predictive and prescriptive decisions, companies need reliable data and implement machine learning and artificial intelligence.
The Key to Successfully Implementing Predictive and Prescriptive Analytics
According to DJ Skalski, the key to successfully implementing predictive and prescriptive analytics is having a foundation of data integrity and interoperability. Additionally, companies must create teams that have knowledge in algorithms, data, clinical environment, and workflow. The organizations must also agree on confidence levels of the models before testing and small-scale testing to track, measure, and adjust their predictions accordingly.
Conclusion
Huron Consulting Group emphasizes that by following these established best practices, healthcare organizations can unlock the transformative potential of their data and analytics. Leading organizations relevantly operationalize data by aligning teams and operations around their strategy, which reduces healthcare costs, improves care quality, and addresses social determinants of health (SDoH). Therefore, healthcare organizations must shift from data management to predictive modeling by utilizing AI and machine learning to stay ahead of the game and remain successful.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 12/01/2022 and can be listened here.
Subscribe to Beckers Healthcare Podcast here.