No sound decisions are made without data analytics. The same goes for healthcare. You cannot track profit and expenses, execute valuable patient care, maintain compliance, and other essentials in managing a healthcare business, without concrete sets of data. These data will provide useful insights to support your decisions. As such, data collection, organization, and analysis are essential in any business process. Thankfully, there are many healthcare-specific business intelligence (BI) softwares available in the market. Regardless of the type of information you collect, from KPI to customer feedback from social media or marketing campaigns, BI tools work to make such data understandable and actionable.
12+ Healthcare BI Software
5. Power BI
6. Qlik Sense
9. Google Analytics
What Is Healthcare BI Software
Similar to generic business intelligence tools, healthcare BI software is designed to organize and analyze data to provide useful insights to support the decision-making process. However, healthcare-specific BI tools are different from generic ones. The data being analyzed in healthcare BI software are based on the needs of the healthcare business, such as internal key performance indicators, patient feedback, etc. In addition, most healthcare BI solutions are integrated with other medical software, such as electronic medical records (EMR), patient portals, medical accounting, and patient engagement tools. This software to software integration allows healthcare practices to access and have visibility in every piece of information in one place.
Point of clarification for healthcare BI suite and medical software integration: medical software works to collect and manage patient data securely and electronically, whereas healthcare BI solutions translate such information into better decisions and patient service.
Equipped with the information needed accessible in a single platform, practices can efficiently track profit and expenses, improve patient care and satisfaction, access a broader range of research and information to improve patient outcomes and optimize budgets, maintain federal compliance, and perform other important processes.
Deploying business intelligence tools in your healthcare system helps you analyze clinic or practice data that you can use to effectively manage patient feedback, finances, and patient care. Having access to all information collected in BI software provides a myriad of advantages, a few of these include:
– increased data accessibility in a centralized platform
– informed decisions made faster
– improved quality of patient care
– improved patient experience and health outcomes
Most healthcare BI tools are easy to access and require less specific knowledge to use, which is unlike medical software. Besides that, healthcare BI software has a user-friendly interface that allows employees to see useful insights in real-time.
BI software for today’s healthcare environments integrates many features that are easy to use in a single platform. These core features include, but may not be limited to:
– data integrations
– data visualization and dashboards
– data security to ensure compliance with HIPAA and other government regulations
– notifications (or alerts)
Top 10 Healthcare BI Software
1. Google Analytics
Google Analytics is a cloud-based solution designed for tracking and evaluating website traffic and improving the performance of marketing, content, and product sales. Google Analytics is run 6 employees and makes a revenue of $1M.
2. Microsoft SQL Server
Microsoft SQL Server is a database management and BI software designed for companies of all sizes. Microsoft has a company size of 175,508 employees and makes $143B in revenue.
Tableau is an integrated BI and analytics solution that helps in analyzing business data and generates meaningful insights. Tableau generates revenue of $1B and has a company size of 4,500 employees.
4. Microsoft Power BI
Microsoft Power BI is a web-based business analytics and data visualization platform suitable for all business sizes.
5. Google Charts
Google Charts is also a cloud-based business intelligence solution that helps teams visualize data on their website through pictographs, pie charts, histograms, and other graphical representations. Its developer, Google, has 139,995 employees and makes $182B in revenue.
ActivTrak is an award-winning workforce analytics and productivity management software that offers expert insights that paves way for optimized process and maximized technology leverage. ActivTrak has a company size of 92 employees and makes $19M in revenue.
SPSS is a cloud-based data analytics platform that assists individuals and enterprises in the statistical forecast to promote efficient business operations. SPSS makes $5M in revenue and has 29 employees.
Sisense is an agile BI suite that offers advanced tools to manage and support business data using analytics, visuals, and reporting. Sisense has 800 employees and makes $168M in revenue.
Boomi is an integrated cloud-based solution designed to centralize data, applications, and processes into one unified platform. This action effectively breaks down data silos. Boomi has 1,300 employees and makes $273M in revenue.
Minitab is a cloud-based statistical tool designed to assist small to large organizations. Minitab has 250 employees and makes $66M in revenue.
What Is the Role of Data Analytics in Healthcare?
Analyzing behavioral data paves way for predicting treatment outcomes, potential risks for chronic illness, and prevent risks of self-harm. Essentially, the data collected can be used for risk scoring, readmission prediction and prevention, predicting medical complications, and more at the individual patient level.
How Important Is Clinical Analysis or Business Intelligence Solution?
Clinical analytics, also known as clinical decision support (CDS), harnesses real-time healthcare data to generate fact-based diagnostics and therapeutic decisions, capture revenue, and save costs.
What Are the Different Sources of Healthcare Data?
The main sources of health data are surveys, administrative and medical records, claims data, vital records, peer-reviewed literature, and even surveillance, among others.
More and more healthcare organizations are adopting analytics and reporting tools to inspire data-driven insights and improve patient care. The same could happen to you if you invest in healthcare BI software. Having a clinical business intelligence tool can give your healthcare business an edge in the competition. Could you afford to miss this opportunity?
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