MHA 605 Week 2 – Discussion Healthcare Analytics Framework
MHA 605 Week 2 – Discussion Healthcare Analytics Framework
Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.
| Healthcare Analytics Framework |
The use of healthcare analytics is an important step towards providing value to the transformation; this is taking place in the use of big data to assess areas of cost, innovation, productivity, and safety. These areas create value in the healthcare organizations as executives and leaders seek advanced decision-making metrics. Based on the aforementioned benchmarks the use of the Health Analytics Continuum and the Value Life Cycle will create increase in both data quantity and quality in any chosen hospital department (clinical, operations, or financial).
For this discussion you are to choose one area for the Healthcare Value Framework and one from the Value Life Cycle and discuss how each adds to the overall Healthcare Analytics Framework based on your chapter readings and current scholarly articles. Your discussion should be no more than 300 words in length.
The Healthcare Value Framework (Davenport, 2014).
The Value Life Cycle (Davenport, 2014).
MHA 605 Week 2 – Discussion Healthcare Analytics Framework
Guided Response: Review your peers’ posts and provide a substantive response to at least two of your classmates’ posts by Day 7. A substantive response is a respectful, professional, and unique response that is at least five sentences in length and incorporates the following:
- Highlights the key points of what you have learned from your peer’s post.
- Adds your content knowledge.
- Compares and contrasts.
- Provides further research.
- Is topic-related.
Monitor the forum through Day 7 to allow for robust dialogue.
MHA 605 Week 2 – Discussion Healthcare Analytics Framework
Healthcare value framework discusses the area of medical cost reduction. The idea of the framework is to find ways to decrease costs and increase revenue. Medical costs are the largest area of cost on a system organization and through the use of analytics, those costs can be decreased. For example, decreasing the amount of duplicate tests and ordering for a patient can decrease waste and costs. The duplicate orders and testing on patients is incredibly wasteful. I read an interesting article about duplicate patient medical records and how it is not only costly, but also dangerous for the patient. It creates multiple records, which waste providers time trying to sort through which one is the most recent, and it creates safety concerns about medication ordering and lab testing accuracy. The cost of this costs anywhere from $3.2 million to 4.8 million a year for hospitals (Titak 2016).
Value Life Cycle includes an area of value discovery. Value discovery creates a business plan that aligns the IT strategy of the company with the business plan of the company. This part of the life cycle discusses what initiatives the company wants to engage in that provide value to the company (McNeill 2014). In healthcare, this could be what the company wants to do to drive their mission and improve patient care. Creating policies and procedures that improve quality, decrease costs and incorporate the values of the company are a great way to provide value to the system. All of these decisions and initiatives made must align with the financial business side of the company. For example, it would be of value for a hospital to hire and train traveler nurses for temporary assignments during the busy times of year, as opposed to hiring and training new staff that will not have enough hours during the slow time. It provides the staff needed during busy times, but saves money during the slow times and decreases staff turnover.
MHA 605 Week 2 – Discussion Healthcare Analytics Framework
McNeill, D. (2014). Analytics in healthcare and the life sciences: Strategies, implementation methods, and best practices. Upper Saddle River, NJ: Pearson.
Titak, J. (2016, September 11). Duplicates, the Hidden Cost in Healthcare. Retrieved from http://healthitmhealth.com/health-infographic-week-duplicates-hidden-cost-healthcare/
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