[Type the company name]

Define: business
intelligence and its
application in health &
care industry
Assignment first Management Information Technology

Submitted by
Rashi Kaushal
MBA 12 A
0903031041

[Date:2-7-09]
Introduction:

Business Intelligence is a system of collective information collected by using technology,

applications, skills and practices for understanding the commercial aspect of business and
applying for the benefit of it. Application of business Intelligence is to support in making
better decisions. Business intelligence provides a calculated insight by past and present
factual data to predict the future trends, creating better reporting systems, data mining,
Management of business performance, benchmarking, better understanding of competitor
etc. (IBM portal)

Therefore Business Intelligence system can simply be defined as decision support system.

The functioning tools of Business Intelligence can be divided in three parts. As follows
1. Creation of Data Warehouse
2. ETL (Extract, Transform and Load)
3. Intelligent Analysis.

The creation of Data Warehouse means the collection of relevant data (Relevant data can
be previously stored) of a company pertaining to a desired goal. Whereas ETL (Extract,
Transform and Load) refers to the extraction of data from Data Warehouse, than
transforming that data it to the usability (i.e. creating the softcopy etc.) and finally
loading it in desired format for analysis.
Intelligent analysis refers to the decision making process using the data available by
above mentioned tools.

Application of Business Intelligence in Health and care Industry

Health care industry is basically a service provider industry. There are number of
challenges health care industry is facing today. Thus it is very necessary for the Health
care industry to keep them selves update to the market trends, competitor’s innovations
and techniques. To survive in today’s market it is essential for health care industry
(Hospitals, pharmaceuticals, gymnasiums, Spas etc. ) to not only be vigilant of above
said factors but also they need to continuously apply corrective measures for their
internal system, as the need arises.

This kind of information when applied to health care industry, will help them to take
good care of their patients/consumers (more than their competitors ), to produce a low
costing drug, to provide valuable suggestions and treatments to mass, to name a few.

As the innovations and inventions are very critical for health care industry, Business
Intelligence will also provide the concerned company to enhance the security and help in
plugging the loop holes. As business intelligence system is a continuous process it will
also regulate the monitoring of patients, effect of drug on them, patient’s Safety,
Utilization of Clinical resources.

There are numerous ways through which the health care industry will be benefitted by
applying Business intelligence system into their enterprise. As follows:
 1. Financial Aspect:- Business intelligence can provide a health care industry better
insight into their cash flow statements, assets, comparison of planned versus
actual financial statements, cost revenues etc.. The analytical ability now armed
with detailed insight with above said tools will be able to identify under-utilized
or unnecessary services; it will also be able to forecast revenues with increased
accuracy. This will also enable the company to ensure the accountability of every
employee to every director, and even financial analyst also.

2. Performance and Safety Analysis (Quality wise) :- This analysis will refer to
the resources used and patient demographics, and than put the resources to better
use. This will result in patient’s or consumers’ satisfaction. It can also increase the
safety record of a company by recording alarm situations and the methods of
dealing with crisis. Business intelligence system enables the company to predict
or quote the finances involved in singular or mass in-patients. (Used in providing
the complete health care solution to any organization). This analysis will help in
determining the maximum risk areas and correlating rate structure. As labour cost
is the one of the main expenses which health care organizations has to bear. This
analysis will help the company in management of human capital.

3. Marketing Analysis:- This analysis will improve in the accountability of any

certain health care service provider. Resulting in the increase the Brand Value,
revenues and Stock prices. This will also suggest an effective marketing
campaign.

References:-

Website & Articles

http://www.healthleadersmedia.com/content/90944/topic/WS_HLM2_TEC/Applying-
Business-Intelligence-to-the-Needs-of-Healthcare-Organizations.html
Mark LaRow, for HealthLeaders News, July 17, 2007
Mark LaRow is vice president of products for the the McLean, VA-based MicroStrategy
Inc.

H. P. Luhn (October 1958). "A Business Intelligence System" (PDF). IBM Journal.
http://www.research.ibm.com/journal/rd/024/ibmrd0204H.pdf

D. J. Power (2007-03-10). "A Brief History of Decision Support Systems, version 4.0".
DSSResources.COM. http://dssresources.com/history/dsshistory.html