Unveiling the Power of Data in the Healthcare Industry

Ben H.

Ben H.

Feb 19, 20243 min read

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Unveiling the Power of Data in the Healthcare Industry

Introduction:

In today's digital era, data has become the lifeblood of every industry, and the healthcare sector is no exception. With advancements in technology, data has emerged as a powerful tool that holds immense potential to revolutionize patient care, improve operational efficiency, and drive innovation. In this article, we will explore the role of data in the healthcare industry, with a focus on the groundbreaking efforts of Ascension, the largest non-profit hospital system in America, and the innovative technology provided by Datavant Switchboard.

Ascension: A Healthcare Giant Harnessing the Power of Data:

Ascension, with its staggering 151 hospitals and 156,000 employees spread across 21 states, stands as the largest non-profit hospital system in America. With a remarkable annual revenue of $26 billion, Ascension's financial prowess rivals that of major private and publicly traded companies. In fact, their revenue is equivalent to the 11th largest private company and the 115th largest publicly traded company in America, putting them on par with global brands like Starbucks.

What makes Ascension truly fascinating is its unique organizational structure. Unlike traditional corporate hierarchies, Ascension's CEO reports to a "public juridic person," an entity within the Catholic Church. This public juridic person, in turn, reports to the Holy See, the governing body of the Catholic Church in the Vatican. This distinctive structure adds an extra layer of responsibility and accountability, ensuring that Ascension's operations align with the values and mission of the Catholic Church.

Datavant Switchboard: Empowering Data and Technology Leaders:

To harness the potential of data and drive innovation in the healthcare industry, Ascension has partnered with Datavant, a leading data connectivity platform. Their collaboration has given rise to Datavant Switchboard, an innovative solution that empowers data and technology leaders within the healthcare sector.

Datavant Switchboard serves as a central hub that enables secure and privacy-preserving data exchange between various healthcare organizations. By breaking down data silos and facilitating seamless connectivity, Switchboard allows healthcare providers, researchers, and other stakeholders to access a comprehensive and holistic view of patient data. This, in turn, enhances the quality of care, enables more accurate diagnoses, and fosters collaborative research initiatives.

Unlocking the Potential of Data in Healthcare:

The convergence of Ascension's vast healthcare infrastructure and Datavant's groundbreaking technology through Switchboard holds immense potential to unlock the power of data in the healthcare industry. Here are three actionable pieces of advice for healthcare organizations looking to leverage the power of data:

  • 1. Embrace Interoperability: To fully harness the potential of data, healthcare organizations must prioritize interoperability. Breaking down data silos and enabling seamless data exchange is crucial for creating a comprehensive patient profile and driving evidence-based decision-making.
  • 2. Ensure Data Privacy and Security: With sensitive patient information at stake, data privacy and security should be of paramount importance. Healthcare organizations must invest in robust data protection measures, including encryption, access controls, and compliance with regulatory frameworks such as HIPAA, to instill trust among patients and stakeholders.
  • 3. Foster Collaboration and Partnerships: Collaboration and partnerships between healthcare organizations, technology providers, and research institutions are key to unlocking the full potential of data-driven healthcare. By pooling resources, expertise, and data, stakeholders can collectively work towards improving patient outcomes and driving innovation in the industry.

Conclusion:

As Ascension and Datavant pave the way for data-driven healthcare, it becomes evident that the power of data is poised to revolutionize the industry. By embracing interoperability, prioritizing data privacy and security, and fostering collaboration, healthcare organizations can harness the full potential of data to drive innovation, improve patient care, and create a brighter future for the industry. With Ascension's vast network of hospitals and Datavant's pioneering technology, the healthcare landscape is set to undergo a transformative shift, ultimately benefiting patients and healthcare providers alike.

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