Analytics taking a front-and-center role in the transition to value-based care

Amidst skyrocketing healthcare costs, companies in the sector are addressing inefficiencies by enhancing data sharing across the value chain -- and they're looking at leveraging analytics to improve business functions and patient experience. It's a factor that's spurring healthcare players to shift their focus from volume-based payment models to value-based and outcome-based models, according to analytics and advisory firm Quantzig's roadmap to heathcare analytics. Applying advanced healthcare analytics to the patient datasets can help healthcare organizations adopt a comprehensive approach to deliver personalized medicine and understand the needs of patients. Multidimensional predictive models are developed by combining patient information and data obtained from other sources, plus third-party consumer insights. The use of such predictive models results in better patient stratification which, in turn, leads to improved healthcare, higher engagement and reduced costs, the roadmap showed.