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It’s all about the data. In a recent study, researchers found that when it comes to electronic health records the amount of “big data” is enormous. A McKinsey Global Health Institute study found that digitizing, monitoring and applying analytics to the U.S. healthcare system would increase efficiencies and potentially reduce costs by $200-$300 billion dollars – essentially decreasing expenditures by 8 percent.
Adopting a comprehensive approach to using big data would help reduce redundancies and eliminate unnecessary costs. For instance:
Utilizing big data in conjunction with electronic healthcare records offers many cost-reducing benefits throughout the healthcare industry but the ultimate benefit is the ability of professionals to provide personalized care to patients.
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