by L. Eleanor Herriman, MD, MBA
CIOs already understand that, in a value-based marketplace, they need analytics to improve clinical outcomes and maintain financial sustainability. What they may not know is that they can make major strides in cost savings, medical error prevention, risk prediction, and population health management without investing in an enterprise-wide analytics platform.
On its own, the medical laboratory is a goldmine of actionable information that can drive these financial and performance metrics. Given that lab data is structured, timely and can be used to track patient “care-flow,” they represent arguably the most powerful analytic input for intelligent, value-based care delivery. Once integrated, the lab is a powerful and cost-effective tool for cutting costs and improving care—a new central nervous system for healthcare organizations.