How Healthcare Startups Can Make the Most of Big Data in Marketing
In the latest episode of #BiteSize, Travis Good talks about how healthcare startups can leverage big data for effective sales and marketing.
Travis Good is the Co-founder of Catalyze. Before founding Catalyze, Travis started with business and technology. After securing his MBA and MS, he analyzed security systems with PriceWaterhouseCoopers and Booz Allen Hamilton. Eventually Travis crossed into the clinical world, becoming an MD in 2011.
He writes, speaks, and builds products for the health and wellness industry, with a particular interest in mobile, innovative models of care, social media, and tools for health developers. He is on a mission to break down barriers to building usable, integrated, and scalable health technology.[Transcript of the video below]
Transcript of the Video
So I think that, actually every small healthcare business has an opportunity to tell a pretty good story around Big Data and use it for sales and marketing purposes. I think people tend to think about Big Data in terms of huge data sets, things like Hadoop.
The reality in Healthcare is today the largest source of digital healthcare data is within the EHR system. It’s typically clinical visits, aprosodic data, recordings and in person between a provider and a patient or a consumer. But so many small healthcare companies are building solutions, that are more patient centered or patient facing. They’re building systems for bundle payments or patient portals or for telemedicine, care management.
All sorts of different solutions that are meant to deliver data and some type of service directly to the patient and in doing so what they are creating is an entirely new data set that doesn’t exist in healthcare today and all those different pieces of data from patients interacting with those telemedicine solutions to those bundle payments solutions to those care medical solutions generate really powerful set of dimensions on individuals, dimensions on those specific patients.
And those dimensions when combined with more traditional digital healthcare data within the EHR actually enable health systems to do more in terms of big data analytics, in terms of targeted interventions and just sort of generally having a better understanding of how their patients health is, what types of things they’re searching for, you know when they’re taking their medications, how many steps when they’re scheduling appointments, all those different pieces really should inform the big data strategy that the health systems that are buying those solutions ultimately build.
So, I do think that really small healthcare businesses have a unique opportunity to expand and augment the healthcare data that their systems already have and by explaining and augmenting that data will enable them to have a much more effective big data strategy and ultimately deliver more proactive care and care that is targeted to be high value and not really high volume.