Posts From September, 2017

LUMEDX Blog 

Healthcare leaders believe predictive analytics will yield significant savings

More than half of healthcare executives polled in The Predictive Analytics in Healthcare Trend Forecast by the Society of Actuaries expect the use of predictive analytics to shave a significant amount off their organization’s budget. Fifty-seven percent of study respondents believe predictive analytics will save 15 percent over the next five years, with 26 percent expecting savings of more than 25 percent over the same period.

Despite hurdles such as cost, 93 percent of those polled believe analytics are important for the future of their business. The study, which polled 223 provider and payer executives, found that while just 47 percent currently deploy predictive analytics, 88 percent plan to either launch or expand current initiatives in the next five years. 

“This data underscores the value executives place on predictive analytics across both payer and provider organizations,” says Ian Duncan, a fellow at the University of California at Santa Barbara and one of the study’s authors. “As value-based care gains prominence, smart organizations are leveraging predictive analytics to forecast health and clinical outcomes to help achieve the Triple Aim.”

In the below video, LUMEDX Vice President of Strategic Products Praveen Lobo notes that even near-real time data analysis represents a major step forward on the path to healthcare’s Triple Aim. Watch the video to learn how analytics enables improved decision-making for physicians as well as CV leadership.

 


Praveen Lobo, Vice President of Strategic Projects, talks about how analytics can help cut costs while improving your hospital's outcomes and patient satisfaction.

 

The leader in cardiovascular data intelligence and a pioneer in cloud-powered healthcare solutions, LUMEDX offers an all-inclusive suite of software and services that enables meaningful analytics, high-performance workflows, optimal integration of clinical and HIS data, and better continuity of care.

For more information on LUMEDX’s HealthView Analytics and the Cardiovascular Performance Program, visit lumedx.com/cardiovascular-performance-home


Posted by Jana Ballinger Monday, September 18, 2017 9:16:00 AM Categories: analytics healthcare analytics

LUMEDX Blog 

Don’t let obsolete devices jeopardize your medical data

As anyone with a mobile phone can attest, technology is moving so fast it doesn’t take long for the next big thing to become antiquated. This rapid rate of change creates many challenges, and one of the most critical is the retention of important information even as the devices collecting and storing that information become obsolete.

In fact, a study by the University of British Columbia tracking the accessibility of scientific data over time found that 80 percent is lost within two decades thanks to outmoded storage devices and old email addresses.

Now imagine all the clinical and operational data that’s collected within hospital walls, data that must be retained when new technology and new clinical devices are installed. 


Mickey Norris, LUMEDX Southeast Sales VP and General Manager, talks about preserving crucial data.

“As devices become obsolete, we remove them from service and bring in something new,” says Mickey Norris, Southeast Sales VP and General Manager at LUMEDX. “But the problem is that when you remove these devices from service, you’re also removing all the data they collected in the past. So, as you throw out the device you risk throwing out years of relevant data.”

While some device information is transmitted to another system, like an EHR, if it is not captured as discrete data it is not available for analysis. This problem can be avoided by extracting discrete data elements, he says. LUMEDX’s database is designed to extract more than 20,000 data elements from the start, according to Norris.

“We believe that any piece of information that’s collected is going to be relevant. Maybe you don’t see the value of that data point today, but you will in the future,” he added. “Most of the time we don’t know what’s going to be relevant in the future, but if we’ve collected it we can take that information and act upon it in the future.”

With meaningful analytics that enable you to monitor, measure and improve all aspects of cardiovascular information services, LUMEDX's data intelligence tools and packages help drive performance while reducing costs.

Email info@lumedx.com to learn more about LUMEDX HealthView workflow solutions.

Posted by Jana Ballinger Tuesday, September 05, 2017 1:16:00 PM Categories: data devices health information technology
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