Study: 47% of Data is Underutilized in Healthcare Decision-Making
BOSTON, May 07, 2024 (GLOBE NEWSWIRE) -- New research published today by Arcadia ( arcadia.io ), a leading data platform for healthcare, found that although four out of five healthcare leaders believe most of their data is accurate, 47% of healthcare data, on average, is underutilized when making clinical and business decisions.1 The research highlights a pressing challenge within the healthcare industry: despite the proliferation of AI, a vast amount of data remains untapped, resulting in missed opportunities to enhance patient outcomes, improve productivity, and reduce costs.
- BOSTON, May 07, 2024 (GLOBE NEWSWIRE) -- New research published today by Arcadia ( arcadia.io ), a leading data platform for healthcare, found that although four out of five healthcare leaders believe most of their data is accurate, 47% of healthcare data, on average, is underutilized when making clinical and business decisions.1 The research highlights a pressing challenge within the healthcare industry: despite the proliferation of AI, a vast amount of data remains untapped, resulting in missed opportunities to enhance patient outcomes, improve productivity, and reduce costs.
- “The research demonstrates technology’s potential to breathe new life into healthcare organizations’ underutilized data,” said Dr. Kate Behan , MD, FACP, Chief Medical Officer at Arcadia.
- “Data analytics platforms are necessary tools and essential enablers for healthcare organizations to turn dormant data into actionable insights that address workforce challenges, reduced revenues, and complex market dynamics.”
The study , conducted by Arcadia in partnership with the Healthcare Information and Management Systems Society (HIMSS), examines how hospitals of various types and sizes use the 137 terabytes of data they produce every day.2 Key findings include:
More than half of healthcare leaders view data as crucial for improving care quality, and one in four said data is necessary to power care management and patient engagement strategies.1 28% of healthcare leaders said data platforms enable their organizations to enhance health outcomes and patient satisfaction.1 The findings reinforce the criticality of data to accelerate the transition to value-based care and achieve The Centers for Medicare and Medicaid Services’ goal to transition all traditional Medicare beneficiaries into a value-based care arrangement by 2030. - “Investing in a strong data analytics platform can further transform these challenges into opportunities and progress towards a more efficient and effective healthcare system.”
Download the report to discover how healthcare leaders plan to deploy a data analytics platform to power future innovations within their organizations.