Data analytics is an essential aspect of modern clinical lab operations. A massive amount of data is generated in clinical laboratories annually. However, few healthcare organizations can harness the full benefits of analyzing this data. Effective data analytics can improve decision-making, provide insight to improve a lab’s productivity and profitability, and improve the quality of care provided to the patient. With data analytics lab solutions, providers can evaluate tons of information and understand trends. Such trends offer insight for improving efficiency in the lab, and they can also provide valuable information to improve population health.

Here are some of the reasons why leaders of healthcare organizations should invest in such solutions.

1. Performance Improvement

Robust data analytics solutions provide lab managers and clinicians with tools for performance measurement. They collect data related to different aspects of laboratory operations and performance, including:

  • Number of tests and analysis performed
  • Number carried out on schedule
  • Number of failed test orders and
  • The utilization of lab resources

Using analytics tools allows healthcare providers to make more effective decisions that will improve patient satisfaction.

2. Effective Decision Support

The losses incurred due to poor diagnosis and wrong testing run into billions of dollars in the U.S. every year. Lab data analytics can serve as a decision support system and help reduce these losses and boost overall efficiency.

With the help of a decision support system, it is possible to make certain predictions about test orders and forecast the demand for certain tests in the near future. Lab managers may use this information to allocate resources effectively, schedule the purchase of laboratory supplies and reduce testing errors.

Decision support also aids the reduction of operational costs and improvement of provider and patient satisfaction.

3. Regulatory Reporting Analytics

Healthcare regulatory bodies constantly modify their reporting requirements. This ever-changing regulatory framework puts healthcare providers under constant pressure to deliver the required information on schedule.

Lab data analytics tools that have effective reporting features make it easy for managers and administrators to gain insight into the number and type of lab tests ordered, the cost, approval criteria, and overall laboratory efficiency.

Data analytics tools offer guidelines for providers to filter data in line with regulatory requirements and specifications. They also provide advanced data visualization tools and dashboards to see the exact amount of data needed.

4. Improving Data Quality

High-quality data is a vital requirement for making accurate decisions in healthcare. When there’s no robust data analytics framework, providers have to depend on error-prone manual processes to evaluate data quality.

Instead of going through a strenuous manual process, a well-designed analytics framework will automatically identify any outliers and improve the overall quality of care.

The analytics solution’s quality assessment aspect provides a match of source data against carefully defined quality rules. The results can provide valuable information to reduce operational costs and improve the outcome of patient care.

Discover the Most Effective Data Analytics Lab Solution for Your Organization

Contact Lifepoint Informatics now to schedule a free demo of our proven lab analytics solution. Call us at 877.522.8378 now to book a free consultation.