Healthcare

Healthcare

Healthcare is a holistic term that encompasses all aspects related to prevention, diagnosis, and treatment of all types of illnesses, injuries, and diseases. The healthcare industry integrates several sub-industries that are committed to creating value for patients by providing various healthcare services and products. These include stakeholders such as medical professionals, hospitals, diagnostic labs, medical device manufacturers, medical Researchers, and health insurance.

Healthcare Industry Challenges

Until a few decades ago, the medical profession was pretty straightforward: Patient calls unwell, doctor checks, diagnoses and treats, and patient goes home. Now, it is not just about treating patients, as there is a whole lot of juggernaut that goes with it. The additional services come at a cost. It has resulted in heightened patient expectations from healthcare providers.

The rise and growth of digital technologies has impacted the way all businesses operate, and healthcare is no exception. There is a proliferation of new payment systems, wearable devices tracking health, and data in the form of electronic medical/health records of patients. Add to that, the emergence of evidence based medicine, new surgical approaches like laparoscopic procedures, and medico-legal aspects involved in robotic surgeries. These changes are resulting in new regulatory compliances. Thus, the healthcare industry is facing different challenges on multiple fronts. Leading healthcare service providers must do all this, and more, at a lower cost, to remain competitive without jeopardising patient care. They need to implement competitive business strategies and explore newer models to achieve their objectives.

Veravizion Case Study in Healthcare

The Client Objectives

The client was an individual representing a super-specialty hospital#. The client wanted a statistical study in the context of cardiac valve replacement surgeries. Cardiac surgeons can adopt one of the few approaches available for performing cardiac valve replacement surgery. In our case, the two approaches were the traditional mid-sternotomy approach and the newer approach involving laparoscopic instruments. The client objective involved statistical comparison between the two approaches on a set of more than twenty-five parameters relevant in the surgery, which could help in deducing the better approach between the two.

Case Challenges

A meaningful statistical study requires sufficient sample size. The challenge involved getting adequate data points from the client for a meaningful statistical study. Once the client shared data (over a few year duration) of sufficient sample size, after that the study could proceed.

Key Actions and Results

  • First, understanding about the context of the client study.
  • Identification of the right statistical tests to perform the analysis.
  • Detailed statistical analysis of the original and derived data, as applicable.
  • Visual presentation and detailed report generation of the data analysed.

The engagement helped clients draw inferences based on the detailed analysis. The study successfully achieved the stated objectives of the client.

#Client confidentiality maintained.

Image credits: photo by rawpixel

email

Schedule Your Complimentary Session with us Today!

We promise you will come away with insights on utilizing your business data productively and cost-effectively. This session will be free of charge and there is no obligation.