Answer to Question #99668 in Economics for trushang

Question

The healthcare space inundated with the presence of 4, 00,000 apps approximately which are involved in monitoring and improving user’s health. These apps monitor user’s health data like calorie intake, physical activity, heart rate, blood pressure, sleep patterns and various other parameters. With the help of these self-monitoring apps users get more personalized information and are capable of transforming how healthcare will be delivered to them. Healthcare industry is embracing analytics to improve disease prevention, increase the accuracy of diagnoses, provide safe medications, and make treatments more effective. Give examples how different stakeholders in the healthcare industry use analytics (Healthcare professionals, healthcare providers, pharmaceutical companies and government).

Answer 1

Healthcare analytics is the branch of analysis that focuses on offering insights into hospital management, patient records, costs, diagnoses, and more.

For hospital and healthcare managers, healthcare analytics provide a combination of financial and administrative data alongside information that can aid patient care efforts, better services, and improve existing procedures.

Deploying a healthcare analytics suite can help healthcare providers improve upon several areas of operations.

For insurance companies, healthcare analytics suites provide an easier and more granular approach to track existing claims, clients, and premiums.