Big data analytics is a sort of advanced analytics that entails a set of statistical algorithms and prediction models that are backed up by high-performance analytics equipment. These technologies provide various commercial benefits in the healthcare industry, including efficient marketing, new income prospects, enhanced operational efficiency, and improved patient care, thanks to high-powered computer systems. Healthcare analytics is a vast discipline that encompasses a wide range of topics, including clinical delivery, operational efficiency, and customized treatment. Currently, big data analytics is being used by a growing number of healthcare organizations, ranging from multi-provider groups and single-physician offices to huge hospital networks. This increase may be ascribed to the service's several benefits, which include rapidly and effectively detecting healthcare fraud and assessing clinical trials and patient information.
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Population health management necessitates the integration of clinical and claims data on the same platform for data analysis, resulting in full patient care with cost-effective pharmaceutical practices. The worldwide big data analytics in healthcare market is expected to rise in the future due to an increase in demand for better care management, early sickness prediction, and the hospitalization process. Furthermore, citizen health is a top priority for healthcare administration in the sector, which necessitates predictive population health analysis and is likely to boost the use of big data analytics over the projection period.
In September 2020, The National Institutes of Health (NIH) supported a study to develop SARS-CoV-2-related digital technologies utilizing Big Data. Wearable gadgets, smartphone applications, and software might be developed as a result of the studies to track the transmission of the COVID-19 virus and assess the health state of affected people.
In August 2018, Verscend Technology (US) purchased Cotiviti Holdings, Inc. (US), a prominent supplier of payment accuracy and analytics-driven solutions primarily for the healthcare market.
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