Three Ways Big Data Is Transforming Pharmacy and Health System Operations
Nhat H. Ngo
EVP, Marketing, Strategy, and Business Development at Omnicell
As more pharmacies and health systems embrace digital transformation, they now have access to powerful data sets that reveal patterns and trends that will allow them to better manage a complex medication supply chain.
Visibility into and management of big data is leading to improved clinical, operational, and financial incomes in three key areas.
Deeper Insights: Leveraging data across multiple sites can help health system pharmacy track key medication supply chain indicators, leading to better inventory optimization. These insights can also inform treatment efficacy and decisions, and when supported by machine learning, can identify usage patterns to monitor for diversion and other risks.
Better Forecasting: Big data provides insights that can drive significant operational improvements for pharmacy. Benchmarking medication usage trends across the nation is helping hospital leaders to make better decisions about their medication inventory, their operations, and most importantly, care coordination.
Benchmarking Performance: As COVID-19, drug shortages, and other challenges continue to strain healthcare systems, the ability to collect and evaluate data to benchmark against medication usage trends is an increasingly urgent priority. This information is key to making important decisions that can ultimately improve patient outcomes.
As the digital transformation of healthcare continues, medication supply chain visibility and predictive analytics will be foundational to achieving zero-error medication management and the key to maximizing clinical, operational, and financial outcomes.
Read the entire Forbes article for more information.
The views and opinions expressed in this blog are those of the authors and do not necessarily reflect the official policy or position of any other agency, organization, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author(s). These views are always subject to change, revision, and rethinking at any time and may not be held in perpetuity.