The healthcare industry today generates and stores more data in massive amounts, with patient records owing to only a small part of the data collected. Electronic records, financial records, industry trends and statistics, patient feedback and reviews, clinical trial data, and insurance are all the different data that need to be processed and analyzed every day.
This is why more and more hospitals are switching over to healthcare Business Intelligence. So what is healthcare BI software and why is it important today?
The Importance of BI in Healthcare
Business intelligence plays a vital role in collecting, breaking down, and storing business information across every field of activity. BI software comes with methods, tools, and algorithms to take complex data from numerous sources and turn it into understandable, helpful information. The benefit of this form of analysis is abundant owing to its capacity to be applied to an entire company and across each of its branches and divisions.
In the medical industry especially, healthcare BI software is one of the most essential tools for managing such huge amounts of data from various sources and channels. There are no limitations with BI and hence, it makes data collection from within the healthcare facility and from outside institutions easy and quick.
BI enables hospitals, labs, and other institutions to organize the most significant records into accessible files. This data becomes the foundation for better patient care, treatment, and reduced costs.
Features of BI Software for Healthcare
General users of this software, like the doctors, nurses, lab assistants, pharmacists, medical registrars, etc use the software through three stages of the BI solutions :
- Data streams are connected to the BI system. Sources include Cloud, files, and relational sources like MySQL.
- Information is uploaded in unified data storage and processed.
- Processed data is demonstrated to the user in user-friendly reports.
To use the software, healthcare professionals don’t require intense technical training or skills. The interface is intuitive and is rather easy to get around. With dashboards, visual representation of data, and categorized information, it’s a highly convenient tool that saves a lot of time.
The tools in BI are all interactive, so the user can view it, rebuild it to personalize it according to their discretion.
The healthcare BI software is based on a complex algorithm that takes in data, segregates it, breaks it down, and displays it for the user. This algorithm is based on 4 pillars:
1. Integration Tools (ETL):
ETL extracts data from different sources then changes it and loads it onto a repository. It changes the structure of the data and breaks it down to create new data.
2. Enterprise Data Warehouse (EDW):
EDW stores, structures, and analyses data. All complex or detailed data are coordinated into a single database.
3. Data Mining Tools:
These tools discover useful information in huge data sets based on stats, classification, and forecasting, for advanced decision making.
4. Visualization tools:
These tools help present data in user-friendly, visual reports.
The healthcare BI software is extremely useful for medical professionals and can help save a lot of time and cut costs for healthcare facilities.
