News Feature | May 19, 2015

Only 10% Of Providers Use Analytics To Their Full Potential

Katie Wike

By Katie Wike, contributing writer

National Retail Federation Creates Retail Research And Analysis Center

Only 1 of 10 providers believes their organization is using its analytics technology to its greatest potential according to a KPMG survey.

KPMG asked 271 healthcare professionals to answer the question, “Where is your organization in the business and data analytics roadmap?” According to Health Data Management, just under one-quarter replied their programs were still in their “infancy” when it comes to data/analytics capabilities and are only “planning their journey” at this point.

Of the others who answered, 16 percent said they are using data in strategic decision making, 28 percent are relying on data warehouses to track key performance indicators, and 24 percent are using data marts.

“Many organizations are not where they need to be in leveraging this technology,” said Bharat Rao, Ph.D., KPMG LLP’s national leader for healthcare & life sciences data analytics. “Healthcare organizations need to employ new approaches to examining healthcare data to uncover patterns about cost and quality, which includes safety, to make better informed decisions.”

iHealth Beat reports some benefits cited by respondents include:

  • business intelligence - 34 percent
  • improved clinical outcomes – 27 percent
  • lower costs – 24 percent

Different types of organizations saw different benefits to data analytics, according to KPMG. “Life sciences companies see the biggest benefit from business intelligence (56 percent), health plans cite lowering costs (35 percent), and providers – hospitals, physician practices, clinics, etc. – cite improved clinical outcomes (32 percent), followed by business intelligence (29 percent).”

However they also pointed out several barriers to analytics:

  • silos of unstandardized data – 37 percent
  • lack of technology infrastructure – 17 percent
  • skill gaps – 15 percent

A year ago, Health IT Outcomes reported three of four providers lacked the basic analytics needed to meet Meaningful Use requirements. “This is about more than simply collecting data,” said Blain Newton, senior VP and COO, HIMSS Analytics at the time. “It is about maximizing how that data is used. Healthcare providers must now shift their attention to managing and maturing their analytic capabilities.”