Understanding the Value of Data in Healthcare

The healthcare industry is undergoing a major transformation through the use of Big Data, Marcos Martínez, CTO of Fligoo, said at Mexico Health Summit 2017 in Mexico City on Thursday. The representative from the Argentinian data company addressed the main trends of Big Data in healthcare during his presentation, Zero to Data at the Sheraton María Isabel Hotel.

“A goal of the modern healthcare system is to provide a great service through technology by improving quality, reducing cost and providing support for modified payment structures,” he said. Martínez said there are two factors driving healthcare companies to start looking for services in data management: the need for technical expertise and the lack of security in information administration. “One of the big obstacles of entering Big Data is finding companies that comply with the security requirements,” Martínez added.

According to Fligoo, data can also boost investments in healthcare. Spending on healthcare IoT could reach US$120 billion in four years. Martínez said this expenditure will be oriented to smarter monitoring devices, medicine intake control systems and to obtain lower cost of services to improve care. The investment, he said, is worth the savings. He also highlighted the role information could play in fighting fraud. “Big data and analytics can be a game changer for healthcare fraud,” he said, adding it had the capacity to reduce fraud, waste and abuse. The meaningful use of health information technology also allows the elaboration of predictive analytics to improve outcomes, which then impacts income and savings.

Martínez explained how understanding that the patient is executing a life outside the hospital is important to identify patterns and risk conditions. This is possible through real-time monitoring. “Having a complete vision of the patient is essential for care.”