Demystifying The Black Box Of Data Analytics

Like never before, there is a data deluge in the healthcare delivery system. How healthcare organizations are bridging the gap between these large, disparate data sources and using them to impact the organization’s financial performance, improve member health, and alter member engagement will determine which organizations thrive in the future. The implementation of the Affordable Care Act and impending launch of the Health Insurance Marketplace brings additional pressure to quickly, or in real-time, process large amounts of data to (1) improve financial performance, (2) avoid unnecessary activities and (3) reduce costs. 

Having a powerful analytical solution is critical to accomplishing these goals. Whether organizations house their analytics internally or partner with outside firms to assist with developing and running the tools, the algorithms are often stored within a mystical black box that must be exposed.  The future of affordable health care is dependent on advancing the use of big data and analytics for bending the cost curve and improving quality of care. Exposing the black box provides insights and visibility that will help shape best practices, remove waste, and improve outcomes.