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As per available reports about 3 Relevant Journals, 19 Conferences, 7 National symposiums are presently dedicated exclusively to health data and about 12 articles are being published on health data.
Health Data mining holds great potential for the healthcare industry to enable health systems to systematically use data and analytics to identify inefficiencies and best practices that improve care and reduce costs. Some experts believe the opportunities to improve care and reduce costs concurrently could apply to as much as 30% of overall healthcare spending. This could be a win/win overall. But due to the complexity of healthcare and a slower rate of technology adoption, our industry lags behind these others in implementing effective data mining and analytic strategies. Like analytics and business intelligence, the term data mining can mean different things to different people. The most basic definition of data mining is the analysis of large data sets to discover patterns and use those patterns to forecast or predict the likelihood of future events.
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Scope and Importance:
Data Mining for Healthcare Management is an emerging field where researchers from both academia and industry have recognized the potential of its impact on improved healthcare by discovering patterns and trends of diagnosis, decisions and treatments in large amounts of complex data generated by healthcare transactions. Data mining has aided in several aspects of healthcare management including disease diagnosis, decision-making for treatments, medical fraud prevention and detection, fault detection of medical devices, healthcare quality improvement strategies and privacy. Data mining also helps to discover interesting business insights to help make business decisions that can influence cost efficiency and yet maintain a high quality of care. Healthcare management has received great deal of attention in recent times and application of data mining techniques to this field is gaining increasing popularity.
Market Analysis:
The Health Data mining is expected to reach $18.7 Billion by 2020 from $5.8 Billion in 2015.According to the Centers for Medicare & Medicaid Services, U.S. national health expenditure totaled $2.5 trillion in 2009, or $8,086 per person, and accounted for 17.6 percent of gross domestic product . The United States spends more money per person per year on healthcare than any other nation in the world, yet the World Health Organization ranked the U.S. healthcare system 37th in overall performance (just behind Costa Rica and just ahead of Slovenia) in 2000, the last year the rankings were compiled.
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This page was last updated on April 19, 2024