450 Billion Medical Expenditure - Big Data Function

If medical spending in the United States continues its current growth, it will account for 17.6% of U.S. GDP in 20 years, which means the U.S. medical spending will be 600 billion U.S. dollars higher than the normal benchmark. The extra $ 600 billion that the Obama administration desperately needs is a "special effects diet pill," which is big data for the health care industry. The Wall Street Journal said in a report last week that big data applications will save the United States hundreds of billions of dollars in medical expenses, but only if the healthcare industry has to make some fundamental changes.

The Wall Street Journal quoted data from a report by McKinsey & Company, "The Big Data Revolution in the Medical Industry," please download the download, McKinsey said in the report:

Big data will save 12-17% on health care costs, which is equivalent to saving between 3000-4500 billion dollars at the current 2.6 trillion U.S. dollars in medical expenses.

Medical big data approaches the tipping point

The McKinsey report also believes that big data technologies and applications are already being developed at many research institutions and that medical big data applications have come to the tipping point.

McKinsey believes that the combination of medical big data approach tipping points comes from the following four aspects: the medical industry's demand for big data applications, the explosion of medical data such as electronic medical records and the aggregation of non-medical public data, the progress of medical data analysis technologies and tools, the government Promote big data on healthcare (including encouraging private sector involvement in creating interoperability standards)

Big data boosts medical innovation

Based on McKinsey's assessment of the medical big data market, more than 200 companies have been developing innovative applications and data analysis tools for various (medical or patient-facing) medical information since 2010. For example, IT Manager Network has previously introduced Ayasdi, which uses topological data to analyze cancer. (REFER TO CHANGE: CHANGE OF BIG DATA APPLICATIONS IN THE MEDICAL INDUSTRY) McKinsey believes some of these applications will drastically reduce the current dilatory medical spending in the United States as the capabilities of medical big data technology and understanding of the healthcare industry deepen.

The healthcare industry itself also needs to make fundamental new changes to the implementation of Big Data appliances. The traditional approach of selecting suppliers, negotiating and signing contracts does not apply to big data solutions and does not help medical companies truly shift from big data Benefit analysis, in addition to the medical industry's big data projects also need to attach great importance to the protection of patient privacy data. McKinsey also suggests integrating treatment data to improve the speed of disease treatment discovery and suggests linking hospital subsidies to patient outcomes.

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