As healthcare organizations look to get real insights from their data, both in clinical applications and in operations, maturing a robust analytics program will become necessary.
Portland, OR (PRWEB) February 28, 2014
Healthcare providers have significant work left to do in order to get the most value out of the data they collect. While most hospitals and other healthcare provider organizations have implemented core components of an EMR, giving them access to large amounts of data on their patients, processes and costs, those assets have not yet been put to their best use.
These are among the key findings of the “The State of Analytics Maturity for Healthcare Providers,” a report issued today and based on data collected from more than 1,800 respondents at 22 healthcare provider organizations. The report was written by the International Institute for Analytics (IIA), the leading independent research firm focused exclusively on guiding its clients to leverage the power of analytics, in cooperation with HIMSS Analytics, the research and analytics arm of the Healthcare Information and Management Systems Society (HIMSS).
Key Findings from the Report
1. The majority of healthcare providers that took part in the analytics maturity benchmark cohort view analytics as important, but have only reached moderate levels of maturity with their analytics programs.
2. Strategic analytic leadership matters. Companies with a Chief Analytics Officer (CAO) on the executive team show higher levels of maturity than organizations where the CAO is not on the executive team.
3. The use of big data is seen as one of the least important analytics competencies by hospitals. This varies greatly from the perspective held in industries such as retail, financial services and manufacturing, which are focused on harnessing big data to gain competitive advantage.
4. Executives are much more critical of their analytics program performance than are others in their organization. This is true regardless of the level of analytical maturity an organization has achieved.
5. Executive leadership at companies with the highest analytics maturity place high importance on the use of data throughout the organization. They also recognize their organizations are not as effective as they need to be in using data.
“With healthcare providers investing significantly into their electronic medical records, the time is fast approaching to put that data to the best, most meaningful use,” said Jack Phillips, CEO and Co-Founder of IIA. “As healthcare organizations look to get real insights from their data, both in clinical applications and in operations, maturing a robust analytics program will become necessary. And the key to that is understanding where to focus your investments, time and resources.”
Data for this report was collected through the DELTA Powered Analytics Assessment (DPAA), a quantitative tool developed by IIA and HIMSS Analytics to measure how effectively healthcare providers use analytics, intelligence applications and data to inform decision-making.
The assessment utilizes the widely published DELTA Model framework described in Analytics at Work by IIA co-founder Thomas H. Davenport and IIA faculty members Robert Morison and Jeanne Harris. The DELTA model measures maturity across five critical analytic competencies: Data, Enterprise approach, Leadership, Targets and Analysts.
As healthcare providers rapidly accumulate massive amounts of data and shift to valued-based and accountable care propositions, it has created a need to leverage data to gain valuable clinical and business insights. As a result, healthcare providers must now focus on managing and maturing their analytic capabilities. The DELTA Powered Analytics Assessment provides healthcare organizations with the ability to measure the strength of their analytics program and gives insight into where an organization should focus to advance analytics capabilities and maturity.
“To move forward, the industry needs to shift the focus from gathering data to leveraging it,” said James Gaston, HIMSS Analytics Sr. Director, Clinical & Business Intelligence. “And, the DELTA Powered Analytics Assessment and suite of services is designed to help healthcare organizations in that effort.”
About HIMSS Analytics
HIMSS Analytics collects, analyzes and distributes essential health IT data related to products, costs, metrics, trends and purchase decisions, and presents relevant maturity models to the healthcare industry to aid in strategic direction and value driven IT adoption and utilization. HIMSS Analytics delivers quality data, strategic direction and analytical expertise to healthcare delivery organizations, IT companies, governmental entities, financial, pharmaceutical and consulting companies. Visit us at http://www.himssanalytics.org.
The International Institute for Analytics (IIA) is an independent research firm for organizations committed to accelerating their business through the power of analytics. Founded by Research Director Thomas H. Davenport and CEO Jack Phillips, IIA works across a breadth of industries to uncover actionable insights from our network of analytics practitioners, industry experts and faculty.
IIA’s Enterprise Research members gain access to an extensive research library, faculty-moderated executive roundtables and phone conversations. IIA also provides analytics benchmarking, inquiry and advisory services to its members, allowing business leaders and analytics professionals allows organizations to keep their finger on the pulse of analytics in the new data economy.
For more information about IIA, visit http://www.iianalytics.com or call 503-467-0210.