> Medical record data can generate cost-effective value for your healthcare facility
| The information that a health center or health care provider obtains from patients and associates is an asset that generates profitability. |
Surely you have already heard on several occasions about the value of data. Not coincidentally, the biggest revolution taking place today in healthcare research and improvement is centered on the data that comes from patients and associates. The data provided by a medical record contains a complete history of a patient's demographics, health, wellness, diagnosis, treatments, medical procedures and outcomes; a whole dataset that becomes a valuable intangible asset and a great resource for various areas of the institution or health center.
Patient records held by institutions, health centers and service providers today can have a value that directly impacts the profitability model of the service. The value may vary depending on the characteristics of the information.
Below, we share some axes for you to consider if the patient data they manage can be useful for your service strategy:
- The type you handle: if they are exclusive, what is the source, what is their availability.
- Data quality: are the data already processed and is there a previous analysis of the data?
- Capture: how the information was collected.
- Usability: are there any restrictions on data usage?
Another aspect to consider for the valuation of patient and partner data is the approach to its quantification. This can be based on revenue, i.e., the projected economic benefit to be generated from the selected data set. The value can be expressed in terms of economic improvement (benefits to patients and partners) and commercial opportunity (new services to be offered).
In any case, today data is another asset within your institution or health center, so if you are not yet taking advantage of the information that patients and associates can provide, you still have time to boost and reinvent your services based on the data provided by medical care.
At SkyMed we specialize in applying technology to your processes for complete tracking of patient and associate data. Interested in learning more? Leave us your details here to arrange a virtual meeting with one of our representatives.
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