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Big data use could save $450 billion in healthcare costs

[preamble]Here we go again – developing new ways to piss our money away. Big Data means nothing. Banks, insurance companies etc.. all work with big data – so why are we spending our money “studying” it? Read the article –
“Patients will not benefit from research on exercise, for example, if they persist in their sedentary lifestyles. And physicians may not improve patient outcomes if they refuse to follow treatment protocols based on big data, and instead rely solely on their own judgment.”

We don’t need “big data” to tell me that i am fat and need to exercise and stop eating or to take my meds. I am human its the best it can be unless you legislate it and all this means it WILL be legislated and controlled so i am forced to be healthy – healthy in terms of what the government deems healthy.

For example, they estimate that, when combined with big data, efforts to combat a chronic condition like coronary heart disease such as taking aspirin, undergoing early cholesterol screening and smoking cessation, could bring care costs down by $30 billion.

end to privacy – once the government controls the data we are i big trouble – when this folly ends.[backtopost]

April 5, 2013 | By

Big data could help U.S. citizens save as much as $450 billion in healthcare costs, but fundamental change is necessary to meeting such goals, according to a new analysis published this month by consulting firm McKinsey & Company.

Among some of the changes needed, according to the analysis, is a continuation of the move away from fee-for-service care, as well as recognition on the part of both providers and patients that data can be an effective tool.

“[A]ll stakeholders must recognize the value of big data and be willing to act on its insights, a fundamental mind-set shift for many and one that may prove difficult to achieve,” the analysis says. “Patients will not benefit from research on exercise, for example, if they persist in their sedentary lifestyles. And physicians may not improve patient outcomes if they refuse to follow treatment

The authors point out that seemingly simple interventions performed on a large scale could lead to huge savings. For example, they estimate that, when combined with big data, efforts to combat a chronic condition like coronary heart disease such as taking aspirin, undergoing early cholesterol screening and smoking cessation, could bring care costs down by $30 billion.

“Our estimate of $300 billion to $450 billion in reduced healthcare spending could be conservative, as many insights and innovations are still ahead,” the authors say.

In a recent Hospital Impact blog post, Kent Bottles, M.D, a senior fellow at the Thomas Jefferson University School of Population Health, says that leveraging big data represents a paradigm shift in healthcare.

“I am convinced big data and algorithms will disrupt healthcare in ways that are only now becoming appreciated,” Bottles says. He adds, however, that there are “definite risks and unintended consequences” to using big data, particularly with regard to ensuring privacy, something the McKinsey analysis authors point out, as well.

“Privacy issues will continue to be a major concern,” they say. “Although new computer programs can readily remove names and other personal information from records being transported into large databases, stakeholders across the industry must be vigilant and watch for potential problems as more information becomes public.”

NIH commits $96 million to make sense of big data

By Ashley Gold Comment | Forward | Twitter | Facebook | LinkedIn

 

The National Institutes of Health has committed $96 million to fund big data research centers, aimed at improving the ability of the research community to use and make sense of large and complex datasets.Over a four-year span, $24 million annually will be set aside to establish six to eight Big Data Knowledge Centers of Excellence. The money will be used for the “development and distribution of innovative approaches, methods, software, and tools for data sharing, integration, analysis and management,” according to NIH.The ability to manage big data is a problem for many healthcare providers, researchers and patients alike. Much of that,┬áNIH says, is due to a lack of tools, accessibility and training. The Big Data to Knowledge Initiative plans on announcing even more funding opportunities in upcoming months.

“This funding opportunity represents a concerted effort to leverage the power of NIH in developing cutting-edge systems to address data science challenges,” NIH Director Francis S. Collins said in a statement. “The goal is to help researchers translate data into knowledge that will advance discoveries and improve health, while reducing costs and redundancy.”

Products from the research will be shared and distributed to the research community, and the centers are supposed to interact as a “consortium” that builds on individual research efforts.

It’s been predicted that big data could save $450 billion in healthcare costs,┬ábut big change could be necessary for meeting such goals first. Providers and patients must both recognize that data can be an effective tool, according to Kent Bottles, M.D, a senior fellow at the Thomas Jefferson University School of Population Health.