Healthcare Data Warehouse: Why You Need One? | healthcare

We often hear a lot of questions when we talk about healthcare clinical data warehouse, such as: Is data warehousing in healthcare necessary? How important it is to have a tool like a clinical data warehouse for Hospitals and Medical Centers? Can business intelligence (BI) be the answer for hospitals looking for data-driven improvements and cost reduction? Yes… with new and improved techniques to handle BI and clinical data warehouse you can unlock the value of data and here’s why.In a rapidly transforming healthcare industry, the need for business intelligence (BI) and analytics is perhaps not too difficult to surmise, especially if you look at your organization’s business intelligence strategy in terms of long-term and sustainable clinical data warehouse. You need to ask is: What exactly is my organization’s business intelligence strategy? But regardless of your organization’s answer, the term business intelligence can still no doubt be difficult to define and may have multiple meanings, which leaves organizations wondering where to turn for a solution.Understanding BI and Healthcare Data WarehousingSimply put, data aggregated from different transactional sources of a corporation or health system can be organized, catalogued and structured according to your need. All these huge quantities of data generated from multiple source systems of your organization enables understanding and facilitates informed evidence-based decision making.Data/information generated from both internal and external source systems facilitates population-based queries, research and analysis. Internal data can be from costing or financial systems or electronic health records (EHR) systems or EMR or clinical sources and external data can be from state or federal government. The more you use data, the more you achieve a greater understanding of it and helps you make informed decisions which are intrinsic to any organization’s operating efficiency and cost reduction efforts.Conversely, locating the data you want from the right source can be a time-consuming manual process. People spend a lot of time and effort to gather or compile the desired data from the diverse systems of your organization and finally come up with something that makes sense for your executives to be up to date with the required information. This is where Business Intelligence comes into the picture. It helps in streamlining and scaling the process of converting raw data into meaningful bits of information that enables healthcare managers to take effective decisions and gain better business insight. That’s what BI means.On the whole, business intelligence integrates business, financial and clinical data into an effective data warehouse. In other words, healthcare providers use the data gleaned from these data warehouses to be able to streamline patient care, patient safety and outcomes while also complying with regulations and standards. Using data gleaned from the data warehouse, executives can base their decisions on facts and not merely on intuition.Think of a data warehouse as a large kind of reliable, centralized library of hospital, clinical and financial data and information that can be repeatedly accessed not only for the purpose of information processing or management reporting but also address specific concerns relating to patient safety, patient health outcomes and state or federal government-regulated healthcare reforms implementation.Healthcare delivery is definitely going digital. According to a recent prediction made by Gartner, in the current year the business Intelligence and analytics market is going to touch $16.9 billion (that is £11.6bn), growing at 5.2 per cent. In this context, we can say that the demand for data-driven operational care takes on new urgency.Cloud and Predictive In Healthcare Data WarehousingThrough cloud-based technology: Rather than having information scattered throughout an infrastructure abyss, a cloud-based technology centralizes stored information in turn allowing for speedier access and scalable solutions that can be used or marketed to a variety of practices. There is no need for a highly complex, expensive IT infrastructure and access to numerous features conveniently located at a secured data warehouse facility, thus eliminating the need for a user to be trained on multiple programs. Cloud-based platforms can help your business grow, regardless of its size and type.Through predictive analytics platform: Predictive Analytics component (or standalone option) enables data to be absorbed from diverse source systems. This platform draws patient data from various source systems and condenses that information to identify, analyze, diagnose, and treat according to patient symptoms and history. The predictive analytics framework identifies concrete evidence for successful diagnosis.As far as the technology-specific domain of healthcare, medical claims processing is concerned, advanced analytics tools can help organizations analyze real-time information on their claims. This will ensure that the right information is presented to the right users at the right time. The specialized services can include service offerings in conjunction with medical claims processing, these are application development, product engineering, and essential managed services catering to the key segments of the healthcare ecosystem covering providers, payers, and pharmaceutical companies.Put it all together, healthcare data warehouse with business intelligence are playing a major role in providing customizable dashboards, reports, and application features by creating a user-friendly environment that staff and multi-tier user levels can easily navigate and access the appropriate information in real-time. To be able to tackle the core internal information management issues, data warehousing techniques can help you maneuver all your pertinent data assets, logically and securely, while reducing your spiraling costs.

Advantages of Healthcare IT Solutions | healthcare

The healthcare industry has grown massively in the last decade. This sector continues to be dynamic in both policies and data. Therefore traditional means of managing this massive data is simply impossible.Today, it is mandatory for all healthcare institutions to partner with Healthcare IT Solution providers to create a transparent and reliable platform that is patient-centric. IT companies provide solutions that are easy to implement. These solutions are also compliant with the changing nature of the policies in the healthcare sector.The benefits of a good healthcare system are many. These solutions are beneficial to the payers, providers, care management organizations, pharmas and also government healthcare organizations.The advantages of Healthcare IT solutions include:· An interactive platform for payers and providers: The interactions between the healthcare providers and the payers are transparent and simplified. Benefits coordination, alerts, notifications, appointment scheduling, digitization of medical records and other features allow a better relationship between the healthcare provider and the patient.· Easy integration with Third Party Data Management Systems: Information exchange becomes simplified with solutions that allow integration with Third Party Health Care record systems and also Health Exchanges. With this facility, support is provided for Remote Health Monitoring as well as Home Based Care.· Mobility: With the digitization of data, mobility is extremely important. Healthcare IT solutions allow easy integration with m-health and health devices.· Easy access to data: A dedicated Health Cloud provides a secure system for data and content management. Enrollees gain access to several health care services across the globe while complete security of all data is ensured. The built-in Health Risk Assessment and Diagnosis Decision Support System along with several other Health tools makes healthcare more effective and reliable.· Faster processes: Exchange of data is much faster. In addition to that, processes like claims management and payments become quicker with the digitization of all the data and third-party integration.· Fraud management: By easing the processes of payments and claims management, frauds are averted. Real-time transactions also allow detection of any real-time fraud instantly.· Patient Centric Platforms: These IT healthcare solutions are patient-centric. This means that the data is provided by the patient to ensure better community presence and engagement.There is an option of several novel technologies such as video conferencing and telemedicine services. With this, the vast healthcare industry becomes better connected. The result of this is better communication between several health care providers, accurate healthcare solutions based on the reports of each individual and also a more open relationship between the payer and the provider.

Crisis Or Opportunity – The Truth About The Arizona Real Estate Market | Real estate

The present real estate market is acting just as it should on the heels of the greatest real estate boom in the last 40 years. There is a long way to fall to get back to “normal”. This falling back into a normal market, coupled with the contraction of the sub-prime mortgage market has the real estate consumer, and many homeowners in a state of fear. The various media continue to depict a very grim picture of the markets in general without distinguishing between the national market and local markets, such as the Arizona real estate market, with factors unique in the ways of population growth and investor activity. I have seen numerous articles referring to the sub-prime debacle as a global crisis. That may be taking it just a bit too far.The truth is, there is no geopolitical significance to recent events in the U.S. real estate market and the sub-prime crisis. To rise to a level of significance, an event — economic, political, or military — must result in a decisive change in the international system, or at least, a fundamental change in the behavior of a nation. The Japanese banking crisis of the early 1990s was a geopolitically significant event. Japan, the second-largest economy in the world, changed its behavior in important ways, leaving room for China to move into the niche Japan had previously owned as the world’s export dynamo. On the other hand, the dot-com meltdown was not geopolitically significant. The U.S. economy had been expanding for about nine years, a remarkably long time, and was due for a recession. Inefficiencies had become rampant in the system, nowhere more so than in the dot-com bubble. That sector was demolished and life went on.In contrast to real estate holdings, the dot-com companies often consisted of no real property, no real chattel, and in many cases very little intellectual property. It really was a bubble. There was virtually, (pun intended), no substance to many of the companies unsuspecting investors were dumping money into as those stocks rallied and later collapsed. There was nothing left of those companies in the aftermath because there was nothing to them when they were raising money through their publicly offered stocks. So, just like when you blew bubbles as a little kid, when the bubble popped, there was absolutely nothing left. Not so with real estate, which by definition, is real property. There is no real estate bubble! Real estate ownership in the United States continues to be coveted the world over and local markets will thrive with the Arizona Real Estate market leading the way, as the country’s leader in percent population growth, through the year 2030.As for the sub-prime “crisis”, we have to take a look at the bigger picture of the national real estate market. To begin with, remember that mortgage delinquency problems affect only people with outstanding loans, and more than one out of three homeowners own their properties debt-free. Of those who have mortgages, approximately 20% are sub-prime. 14.5% of those are delinquent. Sub-prime loans in default make up only about 2.9% of the entire mortgage market. Now, consider that only 2/3 of homeowners have a mortgage, and the total percentage of homeowners in default on their sub-prime loans stands at around 1.9%. The remaining two-thirds of all homeowners with active mortgage prime loans that are 30 days past due or more constitute just 2.6% of all loans nationwide. In other words, among mortgages made to borrowers with good credit at application, 97.4% are continuing to be paid on time.As for the record jumps in new foreclosure filings, again, you’ve got to look closely at the hard data. In 34 states, the rate of new foreclosures actually decreased. In most other states, the increases were minor — except in the California, Florida, Nevada, and Arizona real estate markets. These increases were attributable in part to investors walking away from condos, second homes, and rental houses they bought during the boom years.Doug Duncan, chief economist for the Mortgage Bankers Association, says that without the foreclosure spikes in those states, “we would have seen a nationwide drop in the rate of foreclosure filings.” In Nevada, for instance, non-owner-occupied (investor) loans accounted for 32% of all serious delinquencies and new foreclosure actions. In Florida, the investor share of serious delinquencies was 25%; in Arizona, 26%; and in California, 21%. That compares with a rate of 13% for the rest of the country. This makes for some great buys for the savvy Arizona real estate investor in the area of short sales, foreclosures, and wholesale properties.Bottom line: Those nasty foreclosure and delinquency rates you’re hearing about are for real. But they’re highly concentrated among loan types, local and regional economies, and investors who got their foot caught in the door at the end of the “boom” and are just walking away from those poorly performing properties. Most of those investors still have homes to live in, maybe more than one.In the wake of the boom years, we now have a high inventory of homes on the market, Investors and speculators who quickly bought up homes dumped them just as quickly back on the market in hopes of a fast return. The frenzy of investors purchasing homes put pressure on inventories and drove prices up, further increasing investor activity. Then, as if all at once, many of those investors put their properties on the market, creating an imbalance in the reverse direction. With so many homes on the market, prices began to stall and then fell. Prices will continue to fall until demand chews up excess inventories.With investors no longer a big part of housing demand, primary homeowners are slowly chipping away at the existing inventory. The Las Vegas housing market will rebound in March 2008, according to the largest and most respected appraisal firm locally. The main contributing factor to the sooner than later rebound of this southwestern city is a growing population and thriving local economy.Arizona and Nevada are expected to lead the country in percentage population growth for the next 20-25 years. The population of Arizona is expected to approximately double during that time so we can expect a strong housing demand going forward. Normal inventory levels for Phoenix real estate are about 6-8 months. Current inventory is about 10-12 months. So, we are not far above “normal” inventories in Phoenix. There are, however, outlying cities in this large metropolis that have inventories in excess of 1 year. Queen Creek real estate inventory is the worst with approximately a 2-3 year surplus of homes on the market, mostly due to the large percentage of new homes purchased by investors and then quickly flipped back onto the resale market. Surprise and Peoria real estate markets have a 1-2 year inventory for largely the same reason. We are already seeing some Scottsdale real estate and Paradise Valley real estate prices increase in value. Billions of dollars are being poured into the local economy in the way of commercial development from the downtown area to Northeast Phoenix and Scottsdale.The demand for Arizona homes will remain strong in years ahead as new populations create the need. The demand for housing across our great nation will remain strong as this next generation of young debutantes steps onto the home buying stage. Interest rates are still at historic lows and the lending institutions will continue to offer creative financing options. Sure, some hedge funds lost the air in their tires, but financing sub-prime loans is a high stakes game for the super rich and is not of geopolitical significance. They will find other ways to lend their billions for huge profits in the wake of this sub-prime debacle. Let’s not be gripped in the fear created by reports from all media types trying to “make news”. Let’s face it, the real numbers are not that bloody exciting. Ask yourself, is this an Arizona real estate crisis, or the perfect time to buy an affordable Arizona home? Proper timing and negotiating techniques make all the difference in the current Arizona real estate market. When choosing an Arizona realtor, trust the expertise and experience of Equity Alliance Properties.