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.
|Communicating Results to Your Staff|
Healthcare analytics continues to grow in healthcare. Using the skills you have obtained thus far from the CSBI and textbook, explain what tools you would use to educate your stakeholders on the results you have received from analytics.
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 6 – Discussion: Communicating Results to Your Staff
Healthcare analytics is a greatly significant and vital element in the healthcare are the knowledge of which vastly raises personal proficiency and the knowledge of the healthcare field entirely by providing the tools and for efficient practices. It should by mentioned that he given course equipped me with a vast range of tools which I can further apply in order to educate my stakeholders on the results I have received from the analytics. Some of the tools which I found the most profound and effective will be thereby depicted and discussed in the given essay.
The importance of data analytics in healthcare has been vastly regarded. As Davenport pointed out in his both, the common characteristics of high performing companies include “the application of analytics to improve business and finance functions, and insights into how to operationalize analytics within organizations for optimal results” (Davenport, 2014). Thereby the appliance the right strategy of data analytics is essential. In order to address the given objectives, I believe that such tool as assessment score would be greatly effective to be applied in a range of cases. As assessment scores present precise results and facts which are easy to operate with, they can also ensure well-designed structure that would enhance optimization of any data which need to be considered and presented to the stakeholders.
One of the tools applied for healthcare analytics and data analysis itself which has been identified by Bates, Suchi and others in their research article was the algorithm – a tool which might be greatly successful while communicating certain strategy and depicting a specific case. As the authors claim, the algorithms can “best stratify data by risk of future costs while not addressing other issues” (Bates et. al, 2014). Besides that, the algorithms were claimed to be effective at reallocating the resources more effectively “at both the high-risk and low-risk ends of the spectrum” (Bates et.al., 2014).
Davenport, T. H. (Ed). (2014). Analytics in healthcare and the life sciences: Strategies,
implementation, methods, and best practices. Upper Saddle River, NJ: International Institute for Analytics, Pearson Publisher. ISBN 13: 9780133407334
Bates, D. W., Saria, S., Ohno-Machado, L., Shah, A., & Escobar, G. (2014). Big data in health care: Using analytics to identify and manage high-risk and high-cost patients. Health Affairs, 33, (7), 1123-1131. Retrieved from http://search.proquest.com/
MHA605 BUSINESS INTELLIGENCE
Welcome to Week Six
Continuing with the experience of working with the data and provide useful and meaningful information, students will be able to identify the measures of success. What is success? Who determines what is success in healthcare? There are a variety of measures in healthcare to determine success. One of these is performance. The Department of Health and Human Services (n.d.) has a that presents performance management and measurement in an easy-to-follow method. The module also goes through quality improvement goals and provides ways for the healthcare organizations to evaluate the success of these goals and begins with the reminder that healthcare organizations have a common purpose to provide high quality care to patients (Department of Health and Human Services, n.d.). Success can be defined in a couple of ways (“Success | Definition of Success by Merriam-Webster,” 2015):
- Getting or achieving wealth, fame, or respect
- Achieving a desired result or goal.
Healthcare organizations hope to have pieces of both definitions: wealth could be translated into profitability, fame translated to recognition of their successes, respect translated into becoming an organization that others look to for benchmarking and best practices, none of which could be possible without achieving the goals and results they have determined. Benchmarking and best practices are similar to what we do in our personal lives. For example, if a swimmer has a goal to become one of the fastest swimmers, he/she would do some research on some of the top swimmers from local, regional, national, or Olympian swimmers to simulate what these swimmers do from a training and performance standpoint (i.e., how often they practice, how long they practice, how they practice). What these successful swimmers do takes dedication and continuous monitoring of their results. Same applies to healthcare organizations on their continuous quality efforts. While trying to achieve quality results, healthcare organizations (and swimmers) must look at the costs involved. Healthcare organizations continue to be scrutinized about the cost of healthcare, particularly when looking at the overall value of the healthcare experience.
One of the measures used when deciding to purchase an analytics system, or other capital purchases, is the return on investment (ROI). The return on investment is basically looking at how much money is being invested, and how much money is coming in as a result of the investment. There are various resources available for help in determining how to calculate the ROI, some scholarly and some not scholarly. For example, Khan Academy has extensive resources on a variety of accounting and finance-related tools, including ROI—watch the video on to see more details (Khan Academy, 2016). Investopedia also has a very good explanation of ROI (remember that “pedias” are not considered scholarly, but can provide other resources to begin the research efforts) as follows (Investopedia, LLC, 2016):
- What: determines the efficiency of investments
- How: breaking down the ROI calculation
- When: limitations of ROI
Oftentimes the value of an investment or process change must be identified and presented to all of the stakeholders in a healthcare organization before it can be approved, or denied. With any type of information technology (IT), it can be challenging to determine ROI since the measurements are more operational and intangible. Students are encouraged to continuing researching ROI and how this is determined for analytics.
Department of Health and Human Services. (n.d.). Retrieved from http://www.hrsa.gov/quality/toolbox/methodology/performancemanagement/index.html
Investopedia, LLC. (2016). Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp
Khan Academy. (2016). Retrieved from https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/investment-consumption/v/return-on-capital
Success | Definition of Success by Merriam-Webster. (2015).. Retrieved from http://www.merriam-webster.com/dictionary/success
Davenport, T. H. (Ed). (2014). Analytics in healthcare and the life sciences: Strategies, implementation, methods, and best practices. Upper Saddle River, NJ: International Institute for Analytics, Pearson Publisher. ISBN 13: 9780133407334
- Part IV: Best Practices in Healthcare Analytics Across the Ecosystem – This section highlights the most effective methods and practices used in healthcare organizations to analyze and use data inter-, and intra- organizationally. These textbook readings will provide assistance with the CSBI exam and the discussion question.
Bates, D. W., Saria, S., Ohno-Machado, L., Shah, A., & Escobar, G. (2014). . Health Affairs, 33, (7), 1123-1131. Retrieved from http://search.proquest.com/
- This article discusses the U.S. health care systems adoption of the Electronic Health Records system and how it has increased the availability of clinical data. The outcome of clinical data in conjunction with analytics is opportunities to reduce costs incorporating big data: high-cost patients, readmissions, triage, decompensation (when a patient’s condition worsens), adverse events, and treatment optimization for diseases affecting multiple organ systems (2014). This article will provide assistance with the CSBI exam and the discussion question.
. (n.d.). Retrieved from http://www.hfma.org/
- The Healthcare Financial Management Association is an organization of healthcare finance leaders that builds and supports coalitions with other healthcare associations and industry groups to face the challenges the U.S. healthcare system faces today. This website will provide assistance with your CSBI exam preparation and your assignment.
Accessibility Statement does not exist