Top 3 Benefits of Business Intelligence in Healthcare
Business intelligence is a buzzword that we often hear and glaze over, but hardly stop to actually think about its meaning. We also know that business intelligence can be very beneficial to businesses, but we’re not always sure how exactly that works.
Business intelligence, defined by Gartner is “an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance.”
With the definition in mind, here are 3 benefits of business intelligence in healthcare:
Better patient care
With access to data being easier than ever, more specific prescription and treatment plans can be used instead of a one-size-fits-all strategy. Data can also be used to predict patient risks and even evaluate patient caregiver performance.
Business intelligence is beneficial for not only increasing the pace of decision making, but also allowing for better decisions to be made. In every business decision, there are multiple parties in play. When each of these parties have access to meaningful data, better decisions can be made quicker.
Improved management of costs
Patients come first, but to best serve those patients you need to be fiscally healthy. Business intelligence can pinpoint areas of waste and streamline inefficiencies. Add automation to this process and you have a fully functioning tool for saving money.
Our business intelligence tool, Explore Dx, can help your business with all the points made, above. Not only can Explore Dx calculate the adherence rates of patients and determine if any specific action needs to be taken, but it also has custom dashboards and reports that can be scheduled and sent to relevant stakeholders.
Contact us to learn more about Explore Dx.