Healthcare Factoids to Power Your Thinking
Data is powerful. We learned many things at the first Healthcare Analytics Summit, but one of the coolest things we now know is how much you love data and recognize the power inherent in data. In fact, a common request from the summit was for us to share the healthcare-related factoids that flashed on the screens in the main presentation room. Many of you asked for these factoids because you felt this data would be useful in your particular organization or role. Ah, the power of data-driven thinking at its finest!
We spent a lot of time collecting these industry-relevant facts to show key trends driving the need for data in healthcare. And we’ve developed a presentation showing these powerful factoids in an easy-to-view, easy-to-share, and memorable way. Use this powerpoint as you see fit (however, we’ve given you some ideas below just in case).
There are additional facts within the presentation that aren’t listed below, but just a small sampling of these factoids have the power to:
Help you make a case for reducing healthcare waste.
- In 2009, the Institute of Medicine estimated that there was $765 billion in avoidable costs in the U.S. health care system (Source: Institute of Medicine).
- 53% of physicians said they would order an unnecessary medical test or procedure if the patient insisted (Source: American Board of Internal Medicine Foundation, Choosing Wisely Survey, 2014).
Or give you some pointers for your next IT project.
- More than 80% of IT-directed warehouses took three years to fail and were replaced by data marts built to purpose by individual business units. In contrast, data warehouses sponsored by business executives exhibited a success rate of greater than 70% (Source: Gartner Top Actions for Healthcare).
- By 2017, 90% of the information assets from big data analytic efforts will still be siloed and not able to leverage across multiple business processes (Source: Gartner Predicts 2014: Big Data).
- Only 2% of hospitals have reached Stage 7 of the HIMSS EMR Adoption Model (Source: HIMSS – Essentials of the Hospital IT Market, Dec 2013).
- 90% of executives surveyed identified quality improvement as the most popular use for analytics (eHI and CHIME survey).
Or even predict the future of the industry (things to consider, at any rate).
- The top challenges in 2014 for healthcare executives are 1) financial challenges, 2) healthcare reform implementation, and 3) government mandates (Source: Annual ACHE survey).
- 53% of households surveyed reported that their family decreased use of medical care in the past 12 months because of cost concerns (Source: Kaiser Family Foundation).
- Analyst predictions suggest that more than 32 million U.S. consumers will actively track their personal health and fitness online or via mobile by 2016 (Source: Parks Associates, Sep 2014).
There are many more factoids containing much more powerful data in the presentation below. Have fun with these, and let us know how you’ve used the power of data for good. We’d love to share your success.