Published on March 4, 2014
Analytics across the ecosystem A prescription for optimizing healthcare outcomes © 2013 IBM Corporation
Benefits from using analytics Healthcare organizations need to capture, share, integrate and analyze data across ALL the ecosystem stakeholders for benefits such as… Life Sciences Patient • Improved outcomes • Personalized healthcare • • • • 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 Payers Providers • 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 • Reduce readmissions • Streamline regulatory compliance • Improve clinical outcomes through personalized knowledge-based and data-driven analytics 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 2 © 2013 IBM Corporation
Current situation of analytics in organizations 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 Enabling analytics across the integrated healthcare ecosystem 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 3 © 2013 IBM Corporation
Current situation of analytics in organizations > Analytics strategy 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 As well as defining enabling strategies internally, organizations need to create analytics strategies for future collaborative partnerships across the healthcare ecosystem Source: IBM Institute for Business Value, “Analytics across the Ecosystem” n=555 4 © 2013 IBM Corporation
Current situation of analytics in organizations > Analytics maturity 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 5 © 2013 IBM Corporation
Implementation and adoption of analytic projects > Metrics 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 6 © 2013 IBM Corporation
Current situation of analytics in organizations > Tracking technology We heard that many organizations are unable to track end-to-end delivery of a product or service Source: IBM Institute for Business Value, “Analytics across the Ecosystem” Life Sciences n=190; Healthcare Provider n= 240; Healthcare Payer n=136 7 © 2013 IBM Corporation
Current situation of analytics in organizations > Process integration In addition, most organizations said that they struggle with integrating analytics results into their business processes 74% 33% of organizations indicated that they have had limited success at integrating analytics capabilities and results of organizations did not consider incorporating analytics insights into the business process on an ongoing basis as a driver for enterprise wide adoption Source: IBM Institute for Business Value, “Analytics across the Ecosystem” Life Sciences n = 190; Healthcare Provider n= 240; Healthcare Payer n= 136 8 © 2013 IBM Corporation
Current situation of analytics in organizations > People 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 Source: IBM Institute for Business Value, “Analytics across the Ecosystem” Life Sciences n = 190; Healthcare Provider n= 240; Healthcare Payer n= 136 9 © 2013 IBM Corporation
Framework for maximising competitive advantage from analytics 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. Source: IBM Institute for Business Value Analysis 10 © 2013 IBM Corporation
For more information To download the study, please visit http://ibm.co/GQ7fVK Join the conversation On Twitter: @ibmhealthcare Heather Fraser Study Co-Author 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 firstname.lastname@example.org 11 On LinkedIn: Smarter Healthcare Group On Google Plus: IBM Healthcare On Blog: Insights on Business/ Healthcare For queries: Dr Sumeet Kad (email@example.com) © 2013 IBM Corporation
ibm.com/healthcare 12 4 March 2014 IBM Confidential © 2013 IBM Corporation
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