Deeper analytical insight and agility is at the forefront of growth strategy for companies across all industries. However, the complexity of defining the appropriate path to leverage the benefits of the Cloud to gain meaningful insight from your data can be overwhelming.
It never seems to fail that following the HR Technology® Conference in October, there’s an increase in blogs, articles, and overall commentary on HR analytics.
The articles usually follow this trajectory:
- Why aren’t organizations investing in analytics? First we bemoan the fact that so few organizations are investing in HR analytics: only 12% of organizations in the latest Sierra-Cedar HR systems survey adopted any form of Workforce optimization applications such as workforce analytics, workforce planning, or predictive analytics solutions, and this number hasn’t changed much in the last few years.
- We have solutions. Articles then show up pointing out the improvements in solution and service provider approaches and tools. With the plethora of options available today, lack of tools shouldn’t be the holdup for adopting analytics in organizations. Read more
Consider that average office of the Chief Financial Officer is challenged with:
- Business Intelligence (BI) solutions that are separate and uncoordinated
- Supporting varying Key Performance Indicators (KPI), business drivers, and calculations across operational and clinical systems
- Dealing with disjointed “systems of record” reports for the various business and services lines Read more
The latest Black Book annual evaluation of leading healthcare and medical software and service providers across 18 operational excellence key performance indicators suggest electronic health record systems vendor are continuing to fall short of provider’s expectations leading 2013 to be the year of the great Electronic Medical Records/Electronic Health Records (EMR/EHR) vendor switch. http://www.practicefusion.com/resources/black-book-rankings-2012-top-EMR-EHR-vendors.pdf
EHRs are great at capturing episodic data, while Business Intelligence (BI) is good at looking across visits, hospitals and systems. But BI technology is useless without the data from a solid EHR adoption. Clinical analytics and BI are growing in importance as healthcare organizations consider participation in care delivery and payment reforms, such as Accountable Care Organizations (ACOs) and Patient-Centered Medical Homes (PCMH). Without the ability to analyze their clinical and business workflows, these organizations will not be able to identify areas for improvement efficiently and effectively. Read more
Most healthcare provider organizations require significant amounts of information on their financial operations and their clinical efficiency. Not all of these organizations, however, are realizing the full value of their investments in operational systems such as Supply Chain Management (SCM) which contain a wealth of untapped “intelligence.”
As hospitals increasingly need to make complex decision on how to optimize operations, Business Intelligence (BI) analytics is playing a mission critical role. While operational applications effectively serve each department, clinical and administrative staffs need an integrated view of the information simply and rapidly. BI for healthcare solutions enable a single view of the organization’s information with a predefined enterprise data warehouse and architecture based on proven best practices in healthcare. Read more
Hospital executives and clinicians often make decisions that are not evidence-based or data-driven. In their quest to improve quality of care, efficiency and financial performance, they often times overlook critical data in the decision making process.
Why is that a problem? Because in hospitals, while time and effort is spent collecting data, there may be few resources to analyze it (spot trends, correlations, etc.) and forward think. While the necessary data may be resident in your organization (right now), in many cases, there is too much data to be effectively used in decision-making. A losing proposition when a great deal of labor and expense was expended to collect the data.
As a result, most hospital executives call out for more efficient accessing, organizing and sharing of data, and to focus on what matters. Read more
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