A 2015 Digital Trends study conducted by Precision Advisors showed that although executives in managed care facilities know about big data and predictive analytics, a lack of training, education and resources means they are unable to completely implement them.
The study of 145 managed care executives showed that only about 46 percent of managed care organizations (MCOs) use electronic medical records (EMRs), although 73 percent of those surveyed indicated they would begin using EMRs within the next two years.
The study also included information about annual trends, key insights and statistical analysis impacting managed care organizations. Interviewees included pharmacy, medical and quality directors at health plans and integrated delivery networks, as well as pharmacy benefit managers.
Representatives from MCOs surveyed also cited data on lab results as something they wished they had access to. Twenty-two percent wished for lab data in 2014, while 21 percent expect to have it by 2016.
With health care costs consistently rising MCOs officials are more often using analytics to forecast risks and reduce waste. The study showed only 47 percent of the respondents surveyed possessed predictive analytics. By 2016, the report showed that number will rise significantly, with 80 percent planning to use it.
“Risk, fraud and costs present some of the largest challenges and, at the same time, some of the greatest opportunities for MCOs,” Larry Blandford, executive vice president and managing partner of Precision Advisors, said. “Industries worldwide are shifting to adopt the use of big data and predictive analytics to solve some of their biggest challenges, but the health care industry can do so much more with these technologies to improve their own capabilities and the health outcomes of patients.”
The survey was fielded between August and October 2014. The findings are available online at www.precicionforvalue.com/digital-trends-report.