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Big Data Has the Potential to Transform Health Care

14/11/2014 by Sharon Shahzad

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Big data has the potential to transform, well, everything. The growing sum of information at our fingertips is being analyzed and used to do everything from predict crime to accelerate business growth. And now, innovative companies are using it to make health care better.

The growing amount of medical data holds the clues to predicting flu outbreaks, preventing diseases, cutting medical costs and improving overall patient care. Given all these promises, it’s no surprise that medical data is in the spotlight – attracting startups and investors looking to fuel data-driven health care. Venture capital funding for health care technology firms has increased 176 percent this year, with the majority of funding allocated to data analytics companies, according to Rock Health, a San Francisco–based seed funding firm.

With more and more information being gathered in the form of electronic health records and insurance claims, smart organizations are using it to personalize and enhance care. Likewise, consumers are turning to personal health tracking devices to take control of their own care. But as data continues to be produced and gathered how can organizations truly tap its potential to make health care better and capture the business opportunity?

The symptoms

It’s no surprise that MIT Technology Review’s recent report on data-driven health care cited that the biggest challenge is breaking down the silos of information to pull all the data together. Currently, medical data is held captive in multiple sources making it near impossible for businesses to get a singular, comprehensive view of what is going on. The majority of data-driven health care solutions offer Band-Aid solutions simply pulling data from one source, rather than all of the sources.

So where is all the data coming from? According to the MIT Technology Review report, today’s health care data lives in multiple buckets including data from sensors, public health records, electronic medical records, insurance claims, genomic data, family health history and mobile health apps. Getting the most valuable insights requires analyzing all of these layers to create actionable insights that patients, doctors, researchers and business users can understand.

This article has been extracted from http://www.entrepreneur.com, please click on this link to read the article in full http://www.entrepreneur.com/article/238955

Montash is a multi-award winning, global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy & Technologies, Demand IT and Business Engagement, Digital and E-commerce, Leadership Talent, Infrastructure and Service Delivery, Project and Programme Delivery.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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