New Project Puts an Actuarial Eye on Big Data, Healthcare Costs

Healthcare costs in the US are on the rise, with the industry spending billions each year to combat chronic disease, manage administrative tasks, and advance medical treatments. Although organizations have increasingly sought to improve care and streamline processes with big data analytics tools and research initiatives, healthcare spending continues to surge.

According to the Society of Actuaries (SOA), the US currently spends roughly 18 percent of its gross domestic product on healthcare, while other developed countries spend approximately 11 percent. However, despite high costs of care, the US still falls short on important quality measures: a 2017 study from the Commonwealth Fund ranked the US last in terms of overall quality of care compared to 10 similar countries.

Author: Jessica Kent

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s