Streamlining Data Collection With Data Warehouses for Healthcare Companies

Modern healthcare relies heavily on data to provide effective care for patients. The sector produces about 30% of the global output of data, consisting of electronic medical records, prescriptions, and hospital admissions. This data can be used for many critical processes, including tracking clinical efficiency, designing trials, providing fast diagnosis, and reducing the time to market for new therapies. However, data usage can be a double-edge sword – without proper storage and collection processes, patients can be misdiagnosed and given the wrong treatments, which opens a healthcare organization to lawsuit risks and mistreatment incidents. Executives are well aware of these risks, and 80% believe their organization’s data is not correctly set up to mitigate it properly. 

One of the major problems facing the healthcare industry’s current approach to data is the disparate sources knowledge workers have to draw data from. These employees spend roughly 30% of their work week searching through an average of 367 software tools to collect the necessary data. 48% of companies in these spaces have experienced a breach in security in the past year, which is a serious issue for such a highly regulated industry. It is recommended that healthcare organizations make the shift to storing their various data in a data warehouse, which is a centralized repository that is easy to access. 

Source: Megadata