Data analytics is indispensable for informed decision-making and improved patient care. Despite its importance, several challenges might hinder its effective implementation, such as data errors, large data volumes, and security.
Data challenges in healthcare
Large data volume
Harnessing the potential of data in healthcare presents several challenges, given the vast volumes of patient records, clinical studies, and research. Hospitals generate about 50 petabytes annually, yet up to 97% of this data remains untapped. The healthcare sector accounts for approximately 30% of global data production, with an expected compound annual growth rate of 36% by 2025.
Data integration
Data integration poses a significant challenge in healthcare due to the diverse formats and structures across different data sources. For instance, electronic health records (EHRs) often employ disparate coding systems and standards across healthcare providers and regions. Clinical trial data, managed by various research organizations, may also be stored in proprietary formats. These variations make data synchronization more complicated and require extensive preprocessing to standardize formats.
Data security and compliance
Healthcare data is highly vulnerable to security risks due to its sensitive nature and the high value it holds for malicious actors seeking personal information. In 2023, around 133 million records were exposed, stolen, or otherwise impermissibly disclosed. Due to the increase number of breaches, organizations must implement robust measures to protect data. Failure to comply might result in significant fines due to violations, with the average cost for HIPAA violation has reached 1.5 million USD in 2024. While achieving compliance is challenging, ensuring both business security and safeguarding patients’ records is imperative.
Digital Boardroom – A unified data platform
To address the data challenges in healthcare, FPT Software developed Digital Boardroom – a data platform that facilitates seamless integration into a unified platform with diverse data sources, such as Excel, ERP, CRM, cloud services, and various databases. Digital Boardroom empowers healthcare organizations with various benefits, including:
- Improved data governance: As healthcare data contains confidential information about hospitals and patient records, Digital Boardroom can ensure patients’ privacy and confidentiality by securely collecting, storing, and processing data to prevent data breaches and unauthorized access. The platform ensures adherence to data policies crucial in healthcare due to stringent regulations, such as HIPAA or GDPR.
- Time efficiency: One key advantage of the Digital Boardroom is its ability to consolidate data from various sources into a single platform. As healthcare data is often located in multiple systems, such as Electronic Health Records (EHRs), billing systems, or lab systems, having a centralized platform eliminates the need for healthcare providers to switch between different systems or platforms to access relevant information.
- Improved accuracy: The Digital Boardroom enhances data accuracy by minimizing data errors and eliminating duplicates caused by human input. In healthcare, where precision is critical for patient care and decision-making, this capability ensures consistent information used for diagnosis, treatment, and administrative purposes.
- Real-time insights: The Digital Boardroom enables real-time data analysis and reporting, which is crucial for healthcare providers to respond promptly to emerging trends and issues. By accessing and analyzing data as it is generated, healthcare professionals can swiftly identify patterns, trends, and anomalies, allowing for proactive decision-making and intervention.
- Ease of use and accessibility: The platform's user-friendly interface and updated critical data ensure that healthcare providers can access actionable insights quickly and efficiently. This accessibility facilitates informed decision-making at all organizational levels, from clinical care to operational management.
Power Insights – Towards the Next-level Data Analytics
Given the potential of AI-driven analytics, FPT Software has introduced a new AI-powered product "Power Insights." Compared to other conversational AI applications limited to generating texts and images, the platform can help enterprises conduct data analysis and visualizations.
Leveraging Microsoft's robust foundation of Azure OpenAI technology, Power Insights utilizes Generative AI, Large Language Models, and FPT's data processing and analysis expertise. Users can use Power Insights to extract valuable insights from data through simple conversational language interactions instead of relying on analytical tools or advanced SQL expertise.
Delivering visually appealing results within seconds
Given the large data volume in healthcare, Power Insights can expedite data analysis by delivering results in under 30 seconds. The platform can present answers in text, table, and visually understandable chart formats. Furthermore, Power Insights fosters collaboration within healthcare companies by allowing data sharing via popular platforms such as Microsoft Teams and Email.
Advanced capabilities with robust security
Through the continuous learning capability of the AI model, Power Insights enhances anomaly detection capabilities with machine learning models, statistical analysis, and pattern recognition techniques. Additionally, Power Insights is committed to maintaining the highest data protection standards, adhering strictly to industry best practices and regulatory frameworks. By upholding these principles, Power Insights safeguards user data and demonstrates accountability and responsibility in its operations.
Towards the future of data-driven healthcare
In order to overcome the current challenges in healthcare data, FPT Software's Digital Boardroom and Power Insights offer cutting-edge platforms to enhance operational efficiency, process large amounts of data in seconds, ensure compliance with data regulations, and navigate the complex healthcare landscape.
To discover more about Digital Boardroom and Power Insights, don’t hesitate to contact us.
