The Data Standard
Despite a reputation of being antiquated, the healthcare sector is becoming more modern and data-driven each day. Given its size and complexity, this is welcome news for the entire ecosystem, including consumers. Technological advances in cloud computing, data warehousing, artificial intelligence, and other areas have gotten to the point where being data-driven is now within every organization’s grasp. While we’re still a long way from the majority of the healthcare sector – which encompasses payers, providers, genomics, pharma, life, and bio sciences and beyond – using data analytics and data sharing to take actions that ultimately result in improved patient outcomes, the tools to get there are readily available today. And, from a business perspective, data analytics are also helping forward-thinking organizations to reduce costs, enable new business models and create new revenue streams.