organisations have started using Big
Data to model dozens of economic
scenarios in near real-time.
does Big Data present to the
Australian healthcare industry?
by increasing the quality of the care
provided and reducing the overall
cost of providing that care. In other
words, insights garnered from
data will become key to reducing
healthcare expenditure while
simultaneously improving overall
patient care.
growth and a turbulent economic
environment, the potential benefits
of Big Data are huge. (Source:
Autonomy, Hewlett Packard)
the capacity to truly transform the
healthcare industry.
hasreaffirmedthatanalyticswill
play a crucial role in the future of
the healthcare industry. IBM has
pointed to the potential for Big Data
to help improve three of the greatest
problems in the healthcare industry
industryinefficiencies,higher
consumer expectations and increasing
levels of competition.
is increasingly challenged by
deep-rootedinefficiencies.These
inefficienciescanbeattributedto
the ineffective gathering, sharing
and use of information.
rather than a `value-based business.'
According to the Australian Institute
of Health and Welfare, the average
annual out-of-pocket expenditure
on healthcare has almost doubled
from about $583 in 2000 to $1075
in 2010 $94 above the weighted
Organisation for Economic
(OECD) average of $981. Experts say
there is extensive waste as a result
ofsystemicinefficienciesinthe
Australian healthcare system.
towards minimising some of these
inefficiencies.Forinstance,apatient
will be less likely to double up on
unnecessary tests or vaccines if their
health record demonstrates they have
already had the necessary tests and
treatments. The launch of the eHealth
system is the will collate nation-wide
healthcare data, and will lead the way
for future data developments.
andefficiency.Frommanagingsmall
details to large processes, analytics can
aid exploration and discovery; help
design and plan policy and programs;
improve service delivery and
operations; enhance sustainability;
mitigate risk; and provide a means
for measuring and evaluating
critical organisational data. Perhaps