HEALTHCARE INDUSTRY ANALYTICS STRATEGY Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

HEALTHCARE INDUSTRY ANALYTICS STRATEGY Case Solution

Introduction

The healthcare system of United States of America has operated on the basis of fee for service model. The more surgeries a surgeon performs, the more patient a doctor sees and the more number of the beds a hospital fills, the more money is made by the care provider. The patient experiences and the final outcomes are also considered as important however, they do not affect the fee schedule of these health care institutions. In short, this traditional fee for service model emphasizes more on the overall volume as compared to the value for the patients however; this is now changing(Horner, 2012).

This transformation of the volume based system to a value based system in the US healthcare industry demands the development of the new structures of payment and also realignment of the stakeholder incentives which reward the collective goals of all the people involved. According to ICC Conti, all the major changes which are taking place at the national level are changing the fundamentals of the healthcare system with regard to how everything is aligned and organized.

Whether it is the insurance company, the healthcare system or any pharmaceutical company, none of these players can function in silos and all of them have to be aligned in a manner which lowers the overall cost for a single patient and provide value to them(Horner, 2012). Overall, when analytics become more analytics based and becomes less subjective on the population level, then many efficiency gains and savings will be created by the healthcare industry. In this Memo, I will be detailing the core components of an analytics strategy for the US healthcare industry and make recommendations for successful implementation of this strategy.

Challenges for Integrating Analytics in Organizations

There are a number of different challenges and critical issues which must be resolved before embedding analytics in the healthcare organizations. One of the research studies had been conducted by Healthcare Analytics Symposium which was held in Chicago and conducted by the Healthcare Center of Excellence in order to determine what were the main challenges faced by the healthcare organizations in implementing analytics at their healthcare organizations(Bennett, 2015).

Each of the individual participants had been asked to identify the top 5 analytics challenges which were faced by their respective healthcare organization in implementing it. During the examination, all the challenges had been divided into 10 different categories. The identification of the challenges might not surprise anyone however, the prioritization of the challenges is quite unexpected(Bennett, 2015). The categories of all the analytics implementation challenges and their prioritization are shown below:

Figure 1: HAS Workshop, Chicago(Bennett, 2015)

The leadership category includes the most common terms such as, ‘need for buy in from the staff, lack of vision, lack of priority and also lack of direction.’ However, this also included, ‘teams not working together, siloed systems, disparate HER systems.’Nevertheless, all of these issues could be resolved through proper leadership. The second category which is data management included, ‘where does the data reside, quality of the data, lack of definition of key variables to study, lack of skills, hiring the right people, retaining talent, not enough qualified staff and the lack of data stewardship.’

Apart from these challenges, IT departments and the clinical departments must take a longer view to overcome the challenges which would be faced by the healthcare organizations in adoption of the big data analytics(Hashmi, 2015). Three key challenges in this area are IT leadership, data puddles and episodic culture. These are briefly defined below:..................

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