There is a tremendous amount of data within the healthcare and life sciences industries. According to RBC Capital Markets, the healthcare sector accounts for 30% of the world’s data and is forecasted to grow by a compound annual growth rate of 36% in the next two and half years. The benefit is that healthcare professionals, organizations, and analysts can use this data to improve the quality, quantity, and accessibility of healthcare. But it also carries great risk. More organizations
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The Gains and Pains of Using AI in the Pharmaceutical Industry
The costs for drug discovery and development are skyrocketing, but AI (artificial intelligence) is introducing new efficiencies to help find effective treatments faster. A study in 2020 concluded that the estimated median capitalized research and development cost per product was $985 million. Contributing factors to this included larger trial sizes, the need to assess health technology, the requirement to provide data on comparative drugs’ effectiveness, and most
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Biometrics as the Next Frontier of Authentication in Healthcare
As a result of the COVID-19 pandemic, more healthcare consumers than ever before have begun to engage digitally with their healthcare providers rather than seek in-person treatment and care options. A survey recently released by software company Redpoint Global found that 65 percent of consumers reported using telehealth during the pandemic, with 34 percent of those respondents indicating they will continue to do so as the pandemic winds down. In this context, it’s no surprise that
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Harnessing Healthcare Data: How the Right Low-Code Solution Empowers Clinicians & Improves Patient Experience
The healthcare industry has been slowly adopting new technology solutions to improve efficiency and patient care, but it’s still largely known for paper-based processes, and for having massive amounts of data1. To make matters worse, it’s estimated that 80% of the data in the healthcare industry is unstructured, in the form of discharge summaries, medical images, and clinical notes.2 Even though the industry has started to adopt technology tools to get better insights and
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Lyniate Acquires CareCom to Expand Semantic Interop Capabilities
What You Should Know: - Lyniate, a global leader in healthcare data interoperability acquires CareCom, a provider of semantic interoperability. This acquisition builds on Lyniate’s recent merger with NextGate, a longtime leader in patient identity management. - The combined organization will better support healthcare organizations in converting unstructured content into standardized data to help them assemble and manage more complete and accurate patient
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Traditional RESTful APIs Will Not Solve Healthcare’s Biggest Interoperability Problems
Interoperability is a big discussion in health care, with
new regulations requiring interoperability for patient data. Most approaches
follow the typical RESTful API approach that has become the standard method for
data exchange. Yet Health Level Seven (HL7), with its new Fast Healthcare Interoperability
Resources (FHIR) standard for the electronic transfer of health data, is
leading to a rash of implementations that, to date, are not solving core interoperability
issues. Data is still
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Meaningful Use of Genomics Requires Informatics Beyond EMRs
Electronic medical records (EMRs) are widely expected to serve as a cornerstone technology that drives the delivery of modern patient care. But can the EMR alone support all the informatics capabilities required by an ever-evolving healthcare industry? The rapid growth of precision medicine, particularly the use of genetic and genomic information during clinical decision making, is a compelling example that functionality beyond the EMR is required. Not only does genomic data represent a
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30 Executives Share Top Healthcare Predictions & Trends to Watch in 2021
As we close out the year, we asked several healthcare executives to share their predictions and trends for 2021. Kimberly Powell, Vice President & General Manager, NVIDIA Healthcare Federated Learning: The clinical community will increase their use of federated learning approaches to build robust AI models across various institutions, geographies, patient demographics, and medical scanners. The sensitivity and selectivity of these models are outperforming AI models
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Designating Ownership of Provider Data Will Improve Care Coordination, Study Finds
What You Should Know: - New LexisNexis Risk Solutions Health Care survey reveals
that 63% of respondents believe designating ownership of provider data will
improve care coordination, yet only 18% of organizations report having a
dedicated data governance department - The survey results are based on over 100 qualified
responses from organizations across the industry, including independent
hospitals, teaching hospitals, independent physician groups, and federally
qualified health
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Top 3 Priority Areas for Healthcare CIOs in the Age of COVID-19
What You Should Know: - In the age of COVID-19, healthcare CIOs cite interoperability,
cybersecurity, and operationalizing SDOH data priorities as top three priority
areas, according to the third annual LexisNexis focus group of CHIME
executives. - The survey results also highlighted the importance of
a team approach with support across the organization in helping CIOs
achieve the vision of connected healthcare. The Health Care business of LexisNexis® Risk
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