Big data analytics is a high priority for most payers, but a recent survey found many don’t feel ready to succeed with such initiatives in the current year. Payers shouldn’t wait too much longer, however. The health care sector has been slower than some to harness big data, but it’s beginning to catch on.
Health care providers and payers are analyzing data from electronic health records to identify high-need, high-cost patients, develop targeted interventions, improve population health, coordinate care and support the transition from fee-for-service to value-based care. Payers have access to troves of data that can be used to improve efficiency, health coverage, patient outcomes and subscriber engagement while reducing the cost of care.