We all have heard about the Big data and its impacts on the market. But do we know the role of Medicare in the Big data? Not exactly. Right?
Medicare is a program build by federal health insurance for the senior, handicapped citizen especially those with ESRD (End-stage Renal Disease). Agencies related to Medicare and Medicaid Services runs the program and it gets fund through the Medicare taxes and social security.
Recently, the CMS announced they will evaluate the information related to the physician payment but wait a while read the complete statement, the final document is yet to be written. However, in case the same rule is going to be written then we will be able to see the actual charge taken by the doctors.
But why the process becomes so important suddenly? Through a large amount of data, the Medicare will be able to analyse the data and can calculate the charges and compare the health care system. Also, with the implementation, you will know the fair and reasonable charge of the treatment. Because some doctors charge more than they treat; poor service and high charge.
In the era, where big data is in high demand to uncover the lies behind the market, the Medicare is still trying hard to reach the place, which was unreachable for decades. Although the CMS has been trying to knock the doors of transparency for several years. Even in 2010, the agencies took an initiative to start and promote the transparent, safe and innovative use of data.
Let’s understand how big data is transforming the healthcare using analytics and technologies:
IoT in Healthcare:
IoT or Internet of Things is the interconnection of device and sensors to generate the volumes of data. According to an estimation IoT is making $120 billion in a span of four years. And the data collected is of unstructured variety which plays a major role in Hadoop and Big data analytics. You can enroll into Big Data Hadoop Certification to know more about it and to gain an in-depth knowledge of the data and its relevant terms. There are a lot more devices which regulate, controls, monitors the behaviour of the patient from blood pressure to glucose. While some of the devices need follow-ups of visit whereas the other smart devices can detect the consumption of medicines without going anywhere. In case, the situation is not handled properly they initiate the call such that the patient gets the proper treatment on time. The opportunities are endless in IoT and offer many other possibilities like reduction in cost and improvement in patient’s health.
Predictive analysis for better outcomes
As the population is growing the number of patients are also increasing and so as the data. The initiatives taken in the correct direction is increasing the EHR (Electronic Health Records) adoption. Around $30 billion federal government stimulus started a HITECH act to broadened the use of EHR. This act was specially designed to encourage the data sharing by clinics such that costs can be reduced, diagnosis can be done faster and outcomes can be improved. Combining the structured and unstructured data in multiple sources such that the correct and accurate diagnosing can be given which matches with the outcomes.
For example, an ML algorithm considers many factors related to the patient charts then the doctors so that the early diagnosis can be given. As we all know the early the diagnosis, early will be the treatment, also it reduces the complications in the case.
Real-Time Patient Monitoring:
Healthcare industry demands the more proactive care of the patients and it is only possible with continuous monitoring. Data generated from the various patients need to get monitored and analysed in real-time. Big data has emerged as a powerful solution for analysing this collected information. At the same, the edge computing technology performs analytics on the collected data at the network node. Thus, the administration gets notified with the alert for the acknowledgement.
Bottom Line:
Big data plays the vital role in the development of the company and Machine Learning, Deep learning algorithms are the benchmark in the healthcare industry to identify the biomarkers relevant to the problem and drug development. As the new advancement are becoming available, transparency of data is also increasing and this will lead the change in healthcare facilities. Hence, Medicare will have better deals, results in the deduction of expenses.
