What the Healthcare Industry Can Teach Companies About Their Data Strategy
The information revolution - which holds the promise of a supercharged economy through the use of advanced analytics, data management technologies, the cloud, and knowledge - is affecting every industry. Digital transformation requires major IT modernization and the ability to shorten time data to insights to make the right business decisions. For companies, it means being able to efficiently process and analyze data from a variety of sources at scale. All this in the hope to streamline operations, enhance customer relationship, and provide new and improved products and services.
The healthcare and pharmaceutical industries are the perfect embodiment of what is at stake with the data revolution. Opportunities lie at all the steps of the health care value chain for those who succeed in their digital transformation:
- Prevention: Predicting patients at risk for disease or readmission.
- Diagnosis: Accurately diagnosing patient conditions, matching treatments with outcomes.
- Treatment: Providing optimal and personalized health care through the meaningful use of health information.
- Recovery and reimbursement: Reducing healthcare costs, fraud and avoidable healthcare system overuse. Providing support for reformed value-based incentives for cost effective patient care, effective use of Electronic Health Records (EHR), and other patient information.
Being able to unlock the relevance of healthcare data is the key to having a 360-view of the patient and, ultimately, delivering better care.
Data challenges in the age of connected care
But that’s simpler said than done. The healthcare industry faces the same challenge as others in that often business insights are missed due to speed of change and the complexity of mounting data users and needs. Healthcare organizations have to deal with massive amounts of data housed in a variety of data silos such as information from insurance companies, patient records from multiple physicians and hospitals. To access this data and quickly analyze healthcare information, it is critical to break down the data silos.
Healthcare organizations are increasingly moving their data warehouse to a cloud-based solution and creating a single, unified platform for modern data integration and management across cloud and on-premise environments. Cloud-based integration solutions provide broad and robust connectivity, data quality, and governance tracking, simple pricing, data security and big data analysis capabilities.
Decision Resources Group (DRG) finds success in the cloud
Decision Resources Group (DRG) is a good example of the transformative power of the cloud for healthcare companies. DRG provides healthcare analytics, data and insight products and services to the world's leading pharma, biotech and medical technology companies. To extend its competitive edge, DRG made the choice to build a cloud data warehouse to support the creation of its new Real-World Data Platform, a comprehensive claim and electronic health record repository that covers more than 90% of the US healthcare system. With this platform, DRG is tracking the patient journey, identifying influencers in healthcare decision making and segmenting data so that their customers have access to relevant timely data for decision making.
DRG determined that their IT infrastructure could not scale to handle the petabytes of data that needed to be processed and analyzed. They looked for solutions that contained a platform with a SQL engine that works with big data and could run on Amazon Web Services (AWS) in the cloud.
DRG selected data integration provider Talend and the Snowflake cloud data warehouse as the foundation of its new Real-World Data Platform. With an integration with Spark for advanced machine learning and Tableau for analysis, DRG gets scalable compute performance without complications allowing their developers to build data integration workflows without much coding involved. DRG now has the necessary infrastructure to accommodate and sustain massive growth in data assets and user groups over time and is able to perform big data analytics at the speed of cloud. This is the real competitive edge.
The right partner for IT modernization
When it came to its enterprise information overhaul, DRG is not the only healthcare company that made the choice to modernize in the cloud. AstraZeneca, the world’s seventh-largest pharmaceutical company, chose to build a cloud data lake with Talend and AWS for its digital transformation. This architecture enables them to scale up and scale down based on business needs.
Healthcare and pharmaceutical companies are at the forefront of a major transformation across all industries requiring the use of advanced analytics and big data technologies such as AI and machine learning to process and analyze data to provide insights into the data. This digital transformation requires IT modernization, using hybrid or multi-cloud environments and providing a way to easily combine and analyze data from various sources and formats. Talend is the right partner for these healthcare companies, but also for any other company going through digital transformation.
Read more about DRG case study https://www.talend.com/customers/drg-decision-resources-group/
Read more about AstraZeneca case study https://www.talend.com/customers/astrazeneca/
Talend cloud https://www.talend.com/products/integration-cloud/