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how does data analytics curb healthcare spending?

April 27, 2017

Despite the uncertainty surrounding what U.S. healthcare will look like five years from now—or maybe even five months from now—one thing is sure. The affordability of healthcare will continue to be a priority. How will payers meet this challenge? As Verscend president and CEO Dr. Emad Rizk wrote this month for Healthcare Innovation News, “it is imperative for healthcare organizations to harness the enormous amounts of data at their disposal to unlock the insights necessary to deliver better care at a lower cost.”

Combing through this data to find the right insights will be no easy task, but four recent trends in data analytics that are rapidly picking up steam can help: 

  • Natural language processing: teaching clinical systems how to understand human language to extract targeted information from vast amounts of clinical data
  • Connectivity and interoperability: connecting all stakeholders in the healthcare ecosystem through tools such as application programming interfaces (APIs) to support the seamless flow of information
  • Lifestyle-based analytics: harnessing socio-demographic and consumer data to generate patient-level insights
  • Visualization: incorporating dynamic reporting into day-to-day workflows to provide caregivers with actionable insights

For a closer look at these trends, read Dr. Rizk’s piece in Healthcare Innovation News.

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Dr. Emad Rizk joined Verscend in August 2016 and serves as president and CEO. A seasoned and renowned healthcare industry senior executive, Dr. Rizk brings to this role more than 25 years of experience working closely with payers, providers, and government entities. Most recently, he served as CEO of Accretive Health and was also a member of its board of directors. Prior to Accretive Health, Dr. Rizk was president of McKesson Health Solutions, a business that provides clinical and financial solutions to healthcare payers. Dr. Rizk’s work has been published frequently in journals and books, and he has been widely recognized in the healthcare Industry. Modern Healthcare has named Dr. Rizk numerous times as one of the “50 Most Influential Physician Executives in the United States,” and the “Top 100 Most Powerful People in Healthcare.” Managed Healthcare Executive also named him to its “Top 25 Leaders in Disease Management.”

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