Matthew Arellano, Healthcare Portfolio Partner
Recent data-driven trends are transforming the healthcare analytics landscape. According to McKinsey research, the United States federal government and other public stakeholders have been opening their vast stores of healthcare knowledge, including clinical trials data and information on patients covered under public insurance programs. In parallel, recent technical advances have made it easier to collect and analyze information from multiple sources—a major benefit in healthcare because data for a single patient may come from various sources, such as insurance agencies, hospitals, laboratories, and physician offices. These massive quantities of data hold the promise of supporting a wide range of medical and healthcare functions, including disease surveillance, clinical decision support, and advanced analytics.
“In response to these trends, we’re seeing our healthcare clients shift their enterprise data strategies to a service-based approach for data and analytics. This fundamental shift allows our clients to leverage a centralized source of data to drive consistent analytical outcomes across the enterprise,” says Matthew Arellano, Healthcare Portfolio Partner at Knowledgent.
Headquartered in New Jersey, Knowledgent is an in¬dustry information consultancy that helps organizations transform their information into business results through data and analytics innovation. Knowledgent blends domain knowledge with expertise in data analysis, architecture, and engineering to drive analytic insights for major healthcare payers and providers across the United States.
Knowledgent delivers data and analytics solutions across a wide range of healthcare- r elated business problems .
“As more healthcare organizations mature their data initiatives from Proofs-of-Concepts to production-grade enviroments, they’re experiencing challenges in operationalizing these new capabilities,” says Arellano. “We enable our healthcare clients to tackle these challenges and implement innovative, data-driven business solutions by aligning people and processes with leading-edge technology.”
For example, Knowledgent was engaged by a healthcare payer to develop and implement a data and analytics strategy that addressed the enterprise’s challenge around decentralized data management, which had led to a lack of governance and control and caused extensive resource misalignment. To address these challenges, Knowledgent implemented a next-generation data warehouse and analytics environment that leveraged open-source technology (Hadoop). This engagement empowered business users and data scientists to rapidly access and analyze structured, semi-structured, and unstructured data for advanced analytics. “As a result, business analysts and data scientists within the enterprise can focus their talents on producing better and faster models for analytics like as member retention, utilization management, Medicare STARS, and risk adjustment,” says Arellano.
As more healthcare organizations mature their data initiatives from Proofs-of-Concepts to production-grade environments, they’re experiencing challenges in operationalizing these new capabilities
For the road ahead, Knowledgent plans to continue to improve lives through data and analytics by enabling healthcare organizations to leverage new tools and technologies. “We are excited about the opportunity to positively affect the health outcomes and costs across a wide range of healthcare organizations. Our focus will be to continuously innovate and deliver groundbreaking solutions for our clients,” concludes Arellanano.