analytics across the healthcare ecosytem
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.TRANSCRIPT
© 2013 IBM Corporation
Analytics across the ecosystemA prescription for optimizing healthcare outcomes
© 2013 IBM Corporation2
Benefits from using analytics
Healthcare organizations need to capture, share, integrate andanalyze data across ALL the ecosystem stakeholders for benefitssuch 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 forregulatory 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
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To undersand what organizations are doing today with analytics, weconducted 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
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One of the key findings from the survey was that two thirds oforganizations consider analytics as a high priority and have ananalytics 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 needto create analytics strategies for future collaborative partnerships
across the healthcare ecosystem
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Today two-thirds of organizations still define analytics based ontraditional 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
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When we looked at how organizations were measuring the successof their analytic projects, 62% said they use increased revenue butother equally vital metrics lagged behind
Source: IBM Institute for Business Value, “Analytics across the Ecosystem” n=555
Implementation and adoption of analytic projects > Metrics
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We heard that many organizations are unable to track end-to-enddelivery 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
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In addition, most organizations said that they struggle with integratinganalytics results into their business processes
of organizationsindicated that they havehad limited success atintegrating analyticscapabilities 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 considerincorporating analytics insightsinto the business process on anongoing basis as a driver forenterprise wide adoption
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Organizations also said they were having issues recruiting staff withthe right balance of skills required for implement the results ofanalytics projects back into the business
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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
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In conclusion, healthcare organizations need to consider how theyoptimize the use of analytics internally and across the healthcareecosystem to ultimately improve outcomes for the patient.
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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
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On Blog: Insights on Business/ Healthcare
For queries:
Dr Sumeet Kad ([email protected])
Heather Fraser is a pharmacist with over 25 yearsof industry experience in pharmaceutical R&D,consultancy and community pharmacy. She leadsthe Healthcare and Life Sciences team at the IBMInstitute for Business Value, where she haspublished extensively on the future of thehealthcare and life sciences industry. She has alsodeveloped a set of viewpoints based on interviewswith Life Sciences and Healthcare CxOs. Heatherholds an MBA from Warwich Business School.She can be contacted at [email protected]
Heather FraserStudy Co-Author
© 2013 IBM Corporation12 IBM Confidential12 March 201412 12 March 2014
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