Healthcare Data Analytics: Integrating Data From Real-Time Tracking
Learn how data analytics helps hospitals deliver better patient experiences and reduce overall costs.
In recent years, the healthcare industry has undergone constant transformation. Studies show medical facilities are moving toward data-based healthcare and its benefits, and smart hospitals will shape the next decade of healthcare.
Using sensors and wearable medical equipment to electronic health records and medical imaging systems, hospitals collect endless amounts of data from many sources. To make sense of the numbers, healthcare facilities will need to heavily rely on data analytics.
What is Data Analytics in Healthcare?
Data analytics is the process of collecting and analyzing raw data to make conclusions about information, find trends, and identify actionable insights.
There are four different types of data analytics used in healthcare. These include:
- Descriptive Analytics - These are the simplest types of analytics that answer the question, “What happened?” They allow analysts to pull trends from raw data and succinctly describe what happened.
- Diagnostic Analytics - Diagnostic analytics address “Why did this happen?” These analytics take analysis a step further, comparing coexisting trends or uncovering correlations.
- Predictive Analytics - Predictive analytics are used to make predictions and answer, “What might happen in the future?” These analytics analyze historical data alongside industry trends.
- Prescriptive Analytics - Lastly, prescriptive analytics takes into account all possible factors in a scenario and answers, “What should we do next?” These types of analytics are useful when making data-driven decisions.
Hospital data analytics are revolutionizing how healthcare facilities manage, analyze, and use data in real time. They enable hospitals and medical facilities to make better, more informed decisions, benefiting both staff and patients.
Examples of Data Analytics in Healthcare: How Hospitals Are Using RTLS Technology
Hospitals use RTLS technology to simplify complex hospital functions, including tracking medical equipment and monitoring room temperatures. By automatically capturing data in real-time, platforms like Cox Prosight aggregate this data in one place that healthcare professionals can easily access, review, and analyze.
Here are three important ways RTLS technology and data analytics are being used in hospitals today.
Hospitals rely on a number of life-saving devices to care for patients, including monitors, beds, stretchers, and ventilators. The recent COVID-19 pandemic is a key example of the vital importance of predicting equipment usage.
An RTLS platform with data analytics capabilities, such as Cox Prosight, can help simplify inventory management and forecasting by:
- Providing visibility into inventory levels and reliable usage data.
- Identifying trends to help prevent overstocks and stockouts.
- Reducing the chances of equipment loss and theft.
- Ordering the correct inventory size and eliminating guesswork.
By leveraging data analytics for inventory forecasting, hospitals can help prevent delays in care by ensuring staff and nurses have the equipment they need to deliver positive patient experiences.
Streamlining Operational Workflows
Another way healthcare facilities can use data analytics tools is to reduce manual tasks performed by nurses, resulting in labor cost savings. Cox Prosight helps hospitals increase the electronic capture of data elements for numerous measures, such as hand hygiene protocols.
When in action, each time a nurse activates a hand sanitizing station, that data is collected by the Cox Prosight platform. Hospitals can aggregate this data and view analytics using the platform’s dashboard. In turn, hand hygiene compliance is automated for reporting to necessary parties, including administrators and external agencies. Analytics also show which (if any) parts of a hospital are struggling to meet compliance, highlighting key areas for improvement.
Hand hygiene compliance is just one example of ways analytics can streamline hospital operational workflows. Analytics can optimize workflow across your facility, including with staff safety protocols.
Better Personnel Management
Data analytics offers solutions for hospitals to manage healthcare personnel by expediting their day-to-day operations. With easier inventory management and streamlined compliance, hospitals can greatly reduce the time it takes staff to do once tedious processes. In turn, analytics free up personnel for more essential tasks, reducing burnout and increasing efficiency.
Benefits of Data Analytics in Healthcare
There are endless use cases for real time data tracking and data analytics. Here are some examples of the proven benefits healthcare facilities can expect by leveraging data analytics:
Increase in Patient Satisfaction
Hospital data analytics provide healthcare facilities with the opportunity to identify trends and patterns in patient feedback, helping them find ways to improve future patient experiences. Patients can receive better care and be more satisfied with their interactions with healthcare professionals.
Reduced Employee Stress
RTLS platforms with data analytic capabilities, such as Cox Prosight, help hospitals reduce employee stress in multiple ways. By collecting data in real-time, medical facilities can eliminate time-consuming, manual tasks, freeing staff to focus on their patients.
Lower Overall Bottom Line
Healthcare data analytic tools enable hospitals to monitor spending in real-time and compare invoices to historical data. In addition, they prevent inventory waste, helping hospitals better manage their equipment supply and costs. According to Datavant CEO Pete McCabe, smarter use of data could eliminate 50-70% of wasted healthcare costs.
Ready to Leverage the Power of Cox Prosight’s Data Analytics Capabilities in Your Healthcare Facility?
There is no question that data analytics are going to transform the healthcare industry — they already are. The global healthcare analytics market is expected to expand by almost 22% from 2023 to 2030, keeping up with the growing demand for analytics in medical facilities.
Hospitals around the country are utilizing Cox Prosight to enable real-time data tracking and analytics. Our platform is designed to address many of the challenges hospitals face while embarking on digital transformation by offering an affordable, full-stack solution.
Want to learn more about how our solution can modernize your healthcare facility’s operations and provide insightful analytics? Contact our team today.