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Financial Implications of the Data Management Problem Essay


The data management in the healthcare industry is based on collecting the necessary information, analyzing, and using it with references to the definite developed databases. Today, the effective data management depends on the usage of the modern technologies to work with the different kinds of data. Moreover, the effective usage of the necessary data is connected with the appropriate access to the required information.

The access is important for different healthcare institutions in relation to the aspect of the governing regulations and issue of confidentiality. In spite of the fact the advantages of using the modern approaches to collecting and storing the data are obvious, there are a lot of challenges for developing the tendency of changing the traditional approaches to the data management and using new IT methods.

Furthermore, there are certain consequences of using the out-dated approaches to collecting and sharing the data which can be described with references to the financial implications. The healthcare providers determine the negative effects of using the out-dated methods to manage and operate the data, but the financial aspects of the data management problem remain to be unsolved.

Financial implications of the data management problem are closely associated with the current financial resources which are used by different healthcare organizations. The effectiveness of using the necessary data as well as the effectiveness or quality of the treatment depends on the financial resources provided.

The financial flexibility of the organization is the important factor to speak about the usage of the modern approaches to the data management (Beauvais et al., 2007). However, to guarantee the effective reforms in approaches to the data management, it is necessary to provide the general reforms within the whole industry, but not within a definite organization.

To provide the effective treatment, it is important to solve the problem of the data management which can lead to the significant negative financial consequences. It is important to pay attention to the fact that the financial resources which are spent for modernizing the industry and using such methods as electronic health records or health information exchanges can contribute to decreasing the costs and diminishing the possible negative financial implications in the future (Khosrow-Pour, 2006).

The healthcare providers, patients, and pharmaceutical companies demand the effective and economically advantageous ways in order to regulate the problem with the data management within the industry. Today, the healthcare providers experience a lot of difficulties in collecting and leveraging the necessary data because of the out-dated methods used. These difficulties result in the financial loses.

The problem is in the fact the healthcare organizations have to regulate the significant amounts of data because of the increased amounts of information received. The healthcare organizations orient to the old methods when new approaches to collecting and operating the data are only discussed from the point of their financial profitability and appropriateness for the industry without being actively used.

Many healthcare organizations fail to operate such amounts of information independently, using the traditional approaches to the data management. The negative financial implications of the data management problem are in untimely and inappropriate collection, analysis, and usage of the data which is important for providing the treatment or sharing the information between the healthcare providers (Khosrow-Pour, 2006).

Furthermore, to establish the effective partnership within the industry basing on the data management and sharing the necessary information, it is important to regulate the problem with references to its financial outcomes when the workflow or urgent issues are not operated effectively and in time.

However, a lot of researchers are inclined to state that such methods as, for instance, national data repositories can contribute significantly to improving the situation with the data management and decrease the negative financial implications (Khosrow-Pour, 2006; Mooney, 2009).

The solution of the data management problem can be found with references to implementing the definite interoperable health information technology (Khosrow-Pour, 2006). The data management problem should be resolved in relation to the contemporary IT methods to respond to the modern tendencies and regulate the financial implications.

Although there are several questions on the financial profitability of the active usage of new technologies to manage the data within the healthcare industry, the positive financial implications of the process can be discussed as more obvious.

It is important to implement new approaches to monitoring the patients and collecting the data in order to avoid the drawbacks of the current system and provide the flexible access to the necessary data for different healthcare providers. It is significant to remember that the quality of treatment depends on the effective collection and analysis of the necessary data with the help of the efficient algorithms and calculations.

If the problem of the data management is not resolved with references to using new technologies and approaches to collecting, preserving, analyzing, and operating the necessary information, it can result in significant negative outcomes related to the economic sphere. The financial implications of the data management can be regulated with the help of reforming the data management system and orienting to the new technological opportunities.

References

Beauvais, B., Wells, R., Vasey, J., & Dellifraine, J. L. (2007). Does money really matter? The effects of fiscal margin on quality of care in military treatment facilities. Hospital Topics, 85(3), 2-15.

Khosrow-Pour, M. (2006). Emerging trends and challenges in information technology management. USA: Idea Group Pub.

Mooney, G. (2009). Is it not time for health economists to rethink equity and access? Health Economics, Policy and Law, 4(2), 209-221.

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IvyPanda. (2018, June 18). Financial Implications of the Data Management Problem. Retrieved from https://ivypanda.com/essays/financial-implications-of-the-data-management-problem/

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"Financial Implications of the Data Management Problem." IvyPanda, 18 June 2018, ivypanda.com/essays/financial-implications-of-the-data-management-problem/.

1. IvyPanda. "Financial Implications of the Data Management Problem." June 18, 2018. https://ivypanda.com/essays/financial-implications-of-the-data-management-problem/.


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IvyPanda. "Financial Implications of the Data Management Problem." June 18, 2018. https://ivypanda.com/essays/financial-implications-of-the-data-management-problem/.

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IvyPanda. 2018. "Financial Implications of the Data Management Problem." June 18, 2018. https://ivypanda.com/essays/financial-implications-of-the-data-management-problem/.

References

IvyPanda. (2018) 'Financial Implications of the Data Management Problem'. 18 June.

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