BC Advantage - 2014 Issue 10

Big Data: Is the Juice Worth the Squeeze?

Recently, while many have been banking on the ACA's projected ability to lower the cost of healthcare, another cost-saving industry shift has been playing out behind the scenes: Big Data. The Big Data phenomenon has promised the healthcare industry more efficient administration, superior clinical results, and $450 billion in savings, according to a study by McKinsey & Company. From Meaningful Use and the HITECH Act, to the implementation of ICD-10, to PQRS, to venture capitalists pushing the latest EHR product, the digitization of healthcare systems and medical documentation will inevitably become the standard in healthcare. So far, most of...

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