Business intelligence is a widely developed concept used in various industries. When it comes to Healthcare Business Intelligence, the essence of data warehousing is a measurement that leads to understanding, insight, and action which is what makes up business intelligence. In general, a data warehouse is a centrally managed and easily accessible copy of data collected from the transactional information systems of a corporation or health system. These data are aggregated, organized, cataloged and structured to facilitate population-based queries, research, and analysis. Such queries, research, and analysis enable measurement, which in turn enables understanding and the most informed business and clinical decisions. The data in a data warehouse come from multiple source systems. Source systems can be internal, such as electronic health records (EHR) systems, costing or financial systems, or patient satisfaction systems; or external, such as systems associated with a state or federal government (e.g., mortality data or cancer registries).
Think of a data warehouse as a very large, very specialized kind of library – a centralized, logical and physical collection of data and information that is used repeatedly to achieve greater understanding or make the most informed decisions. Like a well-stocked library, the utility of a well-designed EDW is nearly limitless. With business intelligence, this data warehouse is optimized to its maximum capacity and speeds up the process of data interpretation in healthcare. Below are some ways Healthcare Business Intelligence helps optimize operations in the healthcare industry.
Business Intelligence Enables a More Efficient, Scalable Reporting Process
Typically, hospital or group practice executives meet to determine the business intelligence categories of healthcare data they need to track progress toward strategic goals. They may already have a process in place for getting financial data. But now, with new value-based purchasing pressures requiring clinical and financial data, organizations suddenly are tasked with getting more data than ever before. How do I get at the data after I’ve found
Locating the right people with the right data – whether it’s a single person who updates an Excel document or a team overseeing a database – is a time-consuming, manual process. Staff spends a lot of time setting up this process to gather and compile data to keep executives up to date.
A healthcare EDW streamlines and scales this process. It integrates disparate data from a wide variety of sources, including billing, financial, patient satisfaction and clinical sources. Executives can access the information in the same place every month. And with the tools the healthcare EDW delivers, staff can analyze and interpret the data, running visualizations and reports, and gain insights into new and better ways to achieve quality and cost goals.
Business Intelligence ensures Consistent Data That Everyone Can Trust
Too often during meetings, people will present conflicting data or diametrically opposed trends in the organization’s performance. Usually, team members present conflicting data sheets but it doesn’t mean one is incorrect it probably means they are being interpreted differently. When people throughout an organization access information in many different ways and from many sources, variability is common. The question is: Which data can the organization trust? A healthcare EDW establishes a single source of truth and enables healthcare analytics. When data definitions and tools are consistent, as in a healthcare EDW, everyone – from frontlines to leadership – can rely on the accuracy of the information used to drive critical decisions. An EDW also serves as a foundation for developing and maintaining a data governance program. With such a program, data owners and experts can identify data issues within the organization, resolve them, determine who needs to use the data and define the best access path to the data.
Business Intelligence Enables Meaningful, Targeted Quality Improvement
On an ongoing basis, multi-disciplinary teams from across clinical, technical, financial, quality and performance excellence departments can use the EDW to identify opportunities for improvement. The organization then can develop and deploy highly targeted, specific interventions to promote those improvements in care. When a healthcare organization adopts an EDW the first order of business is to use it to identify areas of potential improvement.