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Top 4 Emerging Tech Trends in Healthcare Big Data Analytics
Big data is everywhere these days. There is no way that businesses can ignore the power and potential of big data in the present times. Indeed, it is the current big thing. Analytics play a major role in the success stories of major organisations now. Hence, taking a certification in data analytics will certainly give you a career jump.
But if you are working in the healthcare sector and looking for an analytics job there, you don’t have to be disappointed. Recently, the healthcare sector has started recognising the benefits of imbibing data analytics techniques. Here, we discuss four emerging tech trends linked to big data analytics in the healthcare sector.
Days of Patient-oriented healthcare
There is no denying the fact that the quality of patient care is on the rise now, as compared to the past. Big data analytics can improve it to a great extent, as predicted by industry experts.
A report by Markets and Markets states that the healthcare analytics market will have a sharp growth from $7 billion in 2016 to $24 billion in 2021. The growth in the healthcare data analytics has started benefitting the quality of medical care for the patients.
It is assumed that big data analytics will result in patient-oriented treatment methods in the near future. It will improve transparency in the sector, and will also change the role of a doctor to a health consultant, with improved patient engagement in treatment.
IoT and Healthcare
As we are aware, the Internet of Things has created a great impact in the healthcare sector as well. According to reports, IoT is expected to become a $120 billion industry in the next couple of years. And all roads of IoT lead to big data and analytics!
Healthcare IoT is sometimes referred to as IoMT or Internet of Medical Things. It is nothing but an interconnected network of devices and applications that can share data with healthcare software systems. The health-related wearables, smartphones, smart homes etc. that are capable of sharing data is on a rise like never before.
A report from Mckinsey states that these technologies can lead to effective clinical trials that are valuable for research groups, pharma companies, patients and healthcare providers. We can expect an extra ordinary progress in real-time clinical trials by combining data analytical techniques and IoMT.
Better monitoring for insurance
Data flows through multiple channels in the healthcare sector. Clinical, pharmacy, logs, insurance claims, third party data, etc. contributes to data accumulation in health. Also, the new age internet of things forms another major source of medical data.
In this flood of medical data, many health insurance providers have started moving towards the path of analytics to improve transparency and better management. There are a handful of benefits associated with using data analytics in the insurance sector. Big data and analytics help in fraud detection, prevention of fraudulent claims, medical aid claims etc.
Predictive Analytics and Healthcare
We can save a life through big data. Not a joke or fairytale anymore, as now, big data can change our lives and keep us hale and hearty.
Healthcare practitioners as well as insurance companies have started taking advantage of Predictive Analytics. Not only for predicting diseases in patients, it is now used in figuring out the body’s responses to medicines.
Here are five ways by which Predictive Analytics can transform the medical sector.
Ø Prevention of diseases: Most of the lifestyle diseases can be prevented, if detected early. Predictive Analytics combined with genomics can largely help in predicting the possibility of disease in a patient and thereby help in avoiding the possibility of an illness.
Ø Prevention of epidemics: Predictive Analytics are also used in detecting the outbreak of epidemics like SAARS, flu, etc.
Ø Better treatment: Doctors will know how the patient’s body will respond to medicines and what medicine works on their body with the help of Predictive Analytics.
Ø Increase accuracy of diagnosis: Predictive analytics is largely helpful in increasing the accuracy of diagnosis in patients.
Ø Benefits Pharma & Insurance companies: Predictive Analytics has the capability to revolutionize the way pharmaceutical companies and insurance firms take decisions in the near future.
Looking to the future, big data and analytics is expected to bring in a transformational wave in the healthcare sector. Trends show that analytics has become a matter of priority for investment for business owners. However, big data analytics is just an evolving concept in the sector.
Big data and analytics is yet to reach the major areas of clinical care. And it will result in reduced costs of treatment, medication and diagnosis. Enrol into the right analytics certification course now for a great career in the healthcare industry.
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