Reducing operational costs in healthcare through advanced BI tools and data integration

Nelly Tochi Nwosu *

Independent Researcher, Chicago, IL, USA.
Review Article
World Journal of Advanced Research and Reviews, 2024, 22(03), 1144–1156
Article DOI: 10.30574/wjarr.2024.22.3.1774
Publication history: 
Received on 03 May 2024; revised on 17 June 2024; accepted on 19 June 2024\
Operational costs in healthcare continue to escalate, posing significant challenges to healthcare organizations globally. This review delves into the potential of reducing operational costs through the strategic implementation of advanced Business Intelligence (BI) tools and data integration solutions. Healthcare systems are complex, with various cost components such as labor, supplies, and facilities contributing to the overall operational expenses. The importance of mitigating these costs is paramount for ensuring financial sustainability and delivering quality patient care.  Advanced BI tools offer a promising avenue for healthcare organizations to gain insights from their data, identify inefficiencies, and optimize processes. Through data analytics, these tools enable healthcare providers to make informed decisions that can lead to cost savings and operational improvements. Additionally, data integration plays a vital role in streamlining workflows and consolidating disparate data sources, allowing for a more comprehensive analysis of healthcare operations. By integrating data from electronic health records (EHRs), financial systems, and other sources, healthcare organizations can achieve a holistic view of their operations and identify opportunities for cost reduction. This reveiw highlights real-world examples and case studies where advanced BI tools and data integration have been successfully utilized to reduce operational costs in healthcare settings. Success stories and measurable outcomes demonstrate the tangible benefits of these technologies, including improved efficiency, reduced waste, and enhanced financial performance. Looking ahead, the integration of advanced BI tools and data integration solutions holds great promise for healthcare organizations seeking to navigate the challenges of rising operational costs. By leveraging data-driven insights and optimizing processes, healthcare providers can achieve cost efficiencies while maintaining the highest standards of patient care.
BI Tools; Data; Healthcare; Cost; Optimizatio
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