Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Healthcare, Risk Aversion, and Big Data Case Studies
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Data Management > Best Practices > Healthcare, Risk Aversion, and Big Data Case Studies
Best PracticesBig DataCulture/LeadershipData ManagementHadoopPolicy and GovernanceRisk Management

Healthcare, Risk Aversion, and Big Data Case Studies

MIKE20
MIKE20
3 Min Read
SHARE

Think for a minute about how much we spend on healthcare. In the United States, the numbers break down as follows:

Contents
Where’s the Data?Feedback

Think for a minute about how much we spend on healthcare. In the United States, the numbers break down as follows:

  • Roughly $3 trillion spent annually, a number rising at 6-7% per year
  • This represents about 17% of US Gross Domestic Product (GDP)
  • Some estimates put the number wasted annually on healthcare at a mind-boggling $2 trillion
  • There’s at least $60B in annual Medicare fraud alone each year (and some estimates put that number at $250B) in fraud

For more astonishing data on healthcare, click here. The stats are frightening. With so much waste and opportunity, it should be no surprise that quite a few software vendors are focusing on Big Data–and not just behemoths like IBM. Start-ups like Explorys, Humedica, Apixio, and scores of others have entered the space.

Where’s the Data?

With so much action surrounding Big Data and healthcare, you’d think that there would be a tremendous number of examples. You’d expect there to be more statistics on how Big Data has helped organizations save lives, reduce costs, and increase revenue.

More Read

analytics & consumers
More Data Drives Deeper Consumer Understanding
Want to Get Certified in Data Mining?
The demotion of the human brain
Master Data Management: Does an Effective Solution Exist?
Top 5 Data Mining Newsletters

And you’d be wrong.

big data healthcare

I’ve worked in hospitals a great deal over my career, and the term risk aversion is entirely apropos. Forget for a minute the significant difficulty in isolating cause and effect. (It’s not easy to accurately claim that deploying Hadoop throughout the organization saved 187 lives in 2012.)

Say for a minute that you’re the CIO of a healthcare organization and you make such a claim. Think about the potential ramifications from lawsuit-happy attorneys. Imagine having to respond to inquiries from lawyers about why you waited so long to deploy software that would have saved so many lives. What were you waiting for? How much will you pay my clients to drop their suit?

This isn’t to say that you can’t find data on, well, Big Data and healthcare. You can. You just have to look really hard–and you’ll more than likely be less than satisfied with the results. For example, this Humedica case study shows increased diagnosis of patients with diabetes who fell between the cracks.

Large organizations are conservative by their nature. Toss in potential lawsuits and it’s easy to understand the paucity results-oriented Big Data healthcare studies. What’s more, we’re still in the early innnings. Expect more data on Big Data in healthcare over the coming years.

Feedback

What say you?

TAGGED:healthcare
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing
AI Document Verification for Legal Firms: Importance & Top Tools
AI Document Verification for Legal Firms: Importance & Top Tools
Artificial Intelligence Exclusive
AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Analytics In A Global Recession: Fixed Price Operational Dashboard

2 Min Read
Big Data Revolution
Big DataData Management

How Big Data Revolution in Healthcare Can Save People

6 Min Read

Healthcare and Data Incentives

4 Min Read
AI in healthcare
Artificial IntelligenceExclusive

Artificial Intelligence In Healthcare Is Changing The Fabric Of The Industry

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
AI and chatbots
Chatbots and SEO: How Can Chatbots Improve Your SEO Ranking?
Artificial Intelligence Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?