Big Data is the Hidden Treasure
It’s no secret that data analytics is prevalent in essentially every industry, but you may be wondering what the big deal about big data really is and how it concerns you as a senior living or LTPAC provider.
Operating a long-term care community without updated, integrated technology can present major challenges for staff and residents alike. Inefficiencies with inaccurate, out-of-date data and devices that do not operate securely where and when you need it to not only has a negative impact on your bottom line, but can generate frustrations among staff and have dangerous consequences for residents.
The prosperity of your healthcare organization hinges in great part on your ability to increase your efficiency. With ongoing technological advances, organizations of all types and sizes have successfully bolstered their productivity. In spite of these successes, healthcare workers still cling to some myths surrounding medical technology. Below are the top seven myths about healthcare technology along with the realities that pertain to each.
Data analytics, executive dashboards, business intelligence (BI) – these are all terms used in today’s business environment, but can mean many different things depending on who you talk to. The most important definition is what it means to you and your organization in order to help you track key metrics. To build the most effective tool, you must determine the intended audience, your key metrics, which data to gather and the tool selection or creation.
Brett Bolt, Executive Vice President and CFO, Nexion Health
“Decision Point gives us a high level view of critical operational and financial metrics allowing us to manage our business more effectively. The dashboard gives us a concise view of key indicators and the drilldown capabilities let us look at individual facilities or regions.”