Business intelligence refers to the collection of business information and data by using various applications, technologies, for better business decision making. Today, the health care industry is growing at a fast pace and is generating a large amount of data which includes financial, operational & clinical information, which demands effective data management. With Business Intelligence, health care management can be performed in a much simpler way as it provides the following benefits.
1. Data security – Business Intelligence allows a single point access of the health care data. Thus, the chances of data loss are reduced. Only, those with appropriate access levels and authority levels can access the data.
2. Improved efficiency – With business intelligence, the entire data is available at a single point. Thus, any information can be easily obtained at any given time. The search time is less and thus, it saves time and improves the productivity and efficiency of work.
3. Increased revenues and reduced costs - The waste data can be eliminated and it assists in accelerating reimbursement and also, generates cash flow benefits. It improves the response time of claims, optimizes pricing, and assists in avoiding fraudulent claims. Also, the analysis of actual income versus project income can be conducted. After studying the analysis report, informed decisions can be taken to increase the organization’s revenue.
4. Improved patient treatment – It provides a single point software to share reports with the patients and with other physicians for second opinions. This helps in making improved medical decisions, and better evidence based clinical decision making.
5. Better data management – Since, all the data is stored in a common share point, it makes data management an easy task. Timely admittance and right diagnosis can be made with the availability of the right data at the right time.
Thus, for generating more revenues and to impart better patient care, health care organization should include Business Intelligence of a top class software development company.
1. Data security – Business Intelligence allows a single point access of the health care data. Thus, the chances of data loss are reduced. Only, those with appropriate access levels and authority levels can access the data.
2. Improved efficiency – With business intelligence, the entire data is available at a single point. Thus, any information can be easily obtained at any given time. The search time is less and thus, it saves time and improves the productivity and efficiency of work.
3. Increased revenues and reduced costs - The waste data can be eliminated and it assists in accelerating reimbursement and also, generates cash flow benefits. It improves the response time of claims, optimizes pricing, and assists in avoiding fraudulent claims. Also, the analysis of actual income versus project income can be conducted. After studying the analysis report, informed decisions can be taken to increase the organization’s revenue.
4. Improved patient treatment – It provides a single point software to share reports with the patients and with other physicians for second opinions. This helps in making improved medical decisions, and better evidence based clinical decision making.
5. Better data management – Since, all the data is stored in a common share point, it makes data management an easy task. Timely admittance and right diagnosis can be made with the availability of the right data at the right time.
Thus, for generating more revenues and to impart better patient care, health care organization should include Business Intelligence of a top class software development company.
