Business Intelligence(BI) Systems
Data management is perhaps the most critical problem which majorities of big companies face these days. Data can be extremely useful in planning and strategy building for smooth operation of companies. The importance of data management and security is utmost important for companies to understand the demands of customer and serve them better, helps in operational efficiency and product differentiation.
It was in early 1990’s that the concept of Business intelligence (BI) was first used. BI mainly refers to computer-based techniques and tools used in identifying, extracting, storing and analyzing business data and forecasting the current and future trends by using the historical business operation data. Different forms of BI that can be used according to the situation in the market are as follows:
- Organization's operations arising due to special requirement
- Division, department or on project basis
- Initiated by user demand
Some of the general functions of BI systems are as follows:
Business intelligence is used in almost all sectors of the economy with the prime focus in Healthcare, finance and retail domain. Generally, speaking, BI help in better decision making process of corporations and making more informed strategies in the field of:
BI is a challenging issue for all industry and Healthcare sector is no different. In fact, there is an added burden of analyzing patient’s sensitive data which is governed by strict privacy rules apart from the general financial information.
The Health Insurance Portability and Accountability Act (HIPAA) act of 1996 is a prime example of security and privacy related to health data. It is because of this, healthcare organization have to employ qualified individuals in analyzing and modeling patient’s data. Another problem faced is data quality and data consistency due to different configuration of systems. In order to combat this, organizations have to combine data from various sources.
There are basically three types of data which is of interest to healthcare organizations- financial, clinical and operational. Within these data, a number of other data comes into play. It is here that the task of BI vendors comes into play. They help in proper analysis of health data which in turn helps in making strategic decisions.
Our BI system has the capability of helping healthcare industry players in better screening, diagnosis and treatment decisions and will allow hospitals to personalize patient care. Our BI program is designed and prepared after analysis of the market as a whole and taking major factors into consideration like goal alignment queries, baseline queries, cost and risk queries, customer and stakeholder queries, metrics-related queries, measurement methodology-related queries and results-related queries.
Healthtechnolgy.com can guarantee sure shot benefits in the form of:
- Reduction in administrative costs
- Boost in reimbursement rates
- Reduction in payments of fraudulent claims
- Betterment of efficiency process in procurement
- Improving patient’s satisfaction
When it comes to service in Insurance BI, we can help you on the following:
- Sales performance
- Portfolio analysis
- Technical results
- Loss ratios
- Claims drill-down
- Personnel performance
- Financial analysis
- Models based on clients requirement
The future of BI is very impressive with technological innovation happening in almost all parts of the world. In times to come, all companies will use Bi in some form or the other. Healthtechnolgy.com has solution for anything and everything………We are just a call away..!!