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Analytics Across the Healthcare Ecosytem

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Information about Analytics Across the Healthcare Ecosytem
Health & Medicine

Published on March 12, 2014

Author: IBMSmarterHealthcare

Source: slideshare.net

Description

Analytics is a key enabler for life sciences and healthcare organizations to create better outcomes for patients, customers and other stakeholders across the entire healthcare ecosystem. While almost two-thirds of organizations across the healthcare ecosystem have analytics strategies in place, our research shows that only a fifth are driving analytics adoption across the enterprise. The key barriers are a lack of data management capabilities and skilled analysts, as well as poor organizational change management. To develop and translate insights into actions that enhance outcomes, organizations will need to collaborate across an expanding ecosystem.
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© 2013 IBM Corporation Analytics across the ecosystem A prescription for optimizing healthcare outcomes

© 2013 IBM Corporation2 Benefits from using analytics Healthcare organizations need to capture, share, integrate and analyze data across ALL the ecosystem stakeholders for benefits such as… Source: IDC interview with Cynthia Burghard, July 24th 2012; IBM Institute for Business Value ‘Trusting the science that drives you business’; IBM Institute for Business Value Analysis • Select better drug candidates • Select the right people for clinical trials • Ensure patients adhere to treatment regime • Develop drugs faster, cheaper keeping within quality standards • Use micro-segmentation to prioritize sales & marketing to practitioners more accurately • Verify/refine clinical trial results using real world evidence • Reduce readmissions • Streamline regulatory compliance • Improve clinical outcomes through personalized knowledge-based and data-driven analytics • Improve effectiveness and efficiencies for regulatory reporting and compliance • Increase operational efficiencies • Focus on cost of care • Improve overall effectiveness of utilization management to improve outcomes • Improved outcomes • Personalized healthcare Life Sciences ProvidersPayers Patient

© 2013 IBM Corporation3 To undersand what organizations are doing today with analytics, we conducted a global survey focusing on ... Analytics across the Healthcare Ecosystem Strategy & Governance Data & Processes People & Organization Source: Institute for Business Value Analysis. Total survey respondents n=555 (Healthcare providers n=228; Healthcare payers n=139; Life sciences n= 188. Countries surveyed across North America, Europe, India Japan, China, Singapore and Mexico Enabling analytics across the integrated healthcare ecosystem Current situation of analytics in organizations

© 2013 IBM Corporation4 One of the key findings from the survey was that two thirds of organizations consider analytics as a high priority and have an analytics strategy or road map in place Current situation of analytics in organizations > Analytics strategy Source: IBM Institute for Business Value, “Analytics across the Ecosystem” n=555 As well as defining enabling strategies internally, organizations need to create analytics strategies for future collaborative partnerships across the healthcare ecosystem

© 2013 IBM Corporation5 Today two-thirds of organizations still define analytics based on traditional uses such as standard business reporting Source: IBM Institute for Business Value, “Analytics across the Ecosystem” n=554 . Current situation of analytics in organizations > Analytics maturity

© 2013 IBM Corporation6 When we looked at how organizations were measuring the success of their analytic projects, 62% said they use increased revenue but other equally vital metrics lagged behind Source: IBM Institute for Business Value, “Analytics across the Ecosystem” n=555 Implementation and adoption of analytic projects > Metrics

© 2013 IBM Corporation7 We heard that many organizations are unable to track end-to-end delivery of a product or service Current situation of analytics in organizations > Tracking technology Source: IBM Institute for Business Value, “Analytics across the Ecosystem” Life Sciences n=190; Healthcare Provider n= 240; Healthcare Payer n=136

© 2013 IBM Corporation8 In addition, most organizations said that they struggle with integrating analytics results into their business processes of organizations indicated that they have had limited success at integrating analytics capabilities and results Source: IBM Institute for Business Value, “Analytics across the Ecosystem” Life Sciences n = 190; Healthcare Provider n= 240; Healthcare Payer n= 136 Current situation of analytics in organizations > Process integration of organizations did not consider incorporating analytics insights into the business process on an ongoing basis as a driver for enterprise wide adoption

© 2013 IBM Corporation9 Organizations also said they were having issues recruiting staff with the right balance of skills required for implement the results of analytics projects back into the business 9 Current situation of analytics in organizations > People Source: IBM Institute for Business Value, “Analytics across the Ecosystem” Life Sciences n = 190; Healthcare Provider n= 240; Healthcare Payer n= 136

© 2013 IBM Corporation10 In conclusion, healthcare organizations need to consider how they optimize the use of analytics internally and across the healthcare ecosystem to ultimately improve outcomes for the patient. 10 Framework for maximising competitive advantage from analytics Source: IBM Institute for Business Value Analysis

© 2013 IBM Corporation11 For more information To download the study, please visit - http://ibm.co/1qvJOUp Join the conversation On Twitter: @ibmhealthcare On LinkedIn: Smarter Healthcare Group On Google Plus: IBM Healthcare On Blog: Insights on Business/ Healthcare For queries: Dr Sumeet Kad (sumeet.kad@in.ibm.com) Heather Fraser is a pharmacist with over 25 years of industry experience in pharmaceutical R&D, consultancy and community pharmacy. She leads the Healthcare and Life Sciences team at the IBM Institute for Business Value, where she has published extensively on the future of the healthcare and life sciences industry. She has also developed a set of viewpoints based on interviews with Life Sciences and Healthcare CxOs. Heather holds an MBA from Warwich Business School. She can be contacted at hfraser@uk.ibm.com Heather Fraser Study Co-Author

© 2013 IBM Corporation12 IBM Confidential12 March 201412 12 March 2014 ibm.com/healthcare

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