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Advancements in medical technology
Advancements in medical technology
Advancements in medical technology
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As healthcare continues to evolve, the emphasis of incorporating big data analysis in improving healthcare delivery has been woven into its very foundation. At its core, big data analytics encompasses a large volume of complex data and usually requires advanced software and IT to process, analyze and distribute it (Raghupathi & Raghupathi, 2014). With the emergence electronic healthcare records and the expected growth in data volume, utilization of big data has come at a practical time. But in it its glory, big data also presents a huge risk. The most pressing issue that arises from big data analytics use is understanding the legality and risk management behind handling large volumes of data. Corporate companies have experienced unsurmountable …show more content…
Since the inception of Health Insurance Portability and Affordability Act (HIPAA) in 1996, the means of sharing healthcare data for private and commercial use has changed. Companies, both within and outside of the healthcare industry rely on processing power to mine data and filter through records. This process has been significantly simplified through the use of modern queries. One of the greatest factors in initiating a successful healthcare data analytics resource is by using big query platforms such as Hadoop or Google, both of which have shown that successful parameters of these systems rely heavily on its compatibility with HIPAA (Shafqat et. al, 2018). The reason behind this are the constraints when using commercially relevant data, which often has higher regulatory and legal concerns. This legal risk mainly stems from litigations that may arise from liability issues or a loss of intellectual property. One of the more recent legal concerns is the emergence of cloud storage. Using public cloud storage, although less costly than private cloud storage, brings about major security and patient privacy concerns (Wang et. al, 2018). This not only intensifies previously mentioned legal issues, but also opens doors for future concerns regarding new data analytics …show more content…
Risk exposure not only includes legality issues, but also incorporates quality and safety risks, reputation risks, health risks, and mostly importantly, financial risks. The reality is that the above stated risks are interdependent and can have drastic effects on the administration of an organization. The reason risk management is such a daunting task stems from its ambiguous nature (Burke, 2013, p169). Risks are difficult to detect because of the interacting pieces that generate the likelihood of a risky result. Measuring risks also proves to be a seemly convoluted process due to the subjectivity behind the matter. Risks can only be measured as far as the human brain can process the complex parts and contingencies involved. Finally, risk mitigation also poses a problem as finding a solution to an unknown problem is just as difficult as identifying the issue at
The Health Insurance Portability and Accountability Act of 1996, or HIPAA, is a law designed “to improve portability and continuity of health insurance coverage in the group and individual markets, to combat waste, fraud, and abuse in health insurance and health care delivery, to promote the use of medical savings accounts, to improve access to long-term care services and coverage, to simplify the administration of health insurance, and for other purposes.”1 HIPAA mandates that covered entities must employ technological means to ensure the privacy of sensitive information. This white paper intends to study the requirements put forth by HIPAA by examining what is technically necessary for them to be implemented, the technological feasibility of this, and what commercial, off-the-shelf systems are currently available to implement these requirements.
The cloud computing is still under development but if it can manage to maintain information privacy and confidentiality than it will become revolutionary in healthcare field. And we never know, in future science and technology might introduce more advanced level of apps and service with enhanced level of privacy and security measures.
With today's use of electronic medical records software, information discussed in confidence with your doctor(s) will be recorded into electronic data files. The obvious concern is the potential for your records to be seen by hundreds of strangers who work in health care, the insurance industry, and a host of businesses associated with medical organizations. Fortunately, this catastrophic scenario will likely be avoided. Congress addressed growing public concern about privacy and security of personal health data, and in 1996 passed “The Health Insurance Portability and Accountability Act” (HIPAA). HIPAA sets the national standard for electronic transfers of health data.
When the context of an integrated and interconnected platform comes up, the first question that arises is how the platform maintains and protects the privacy of its users. The case of E-Health is similar. E-Health means keeping the medical records of the patients over the
Peter Setness is a family medical doctor in Minneapolis. Setness states how technology has made information so easy to get a hold of. With information being so handy at any point of time and it being used in the most convenient situation, can give a person a sense of power. Information and technology is what makes up the practice of physicians today. Setness list how patient data helps provide research statistics, death rates, and improvement in public health. Setness’ article can be considered credible because he is a postgraduate in medicine and has done extensive research on how privacy is important in research proposals. This article can help provide support on how HIPPA impacts health research.
Identify the potential risks which affect the company and manage these risks within its risk appetite;
As a nurse, we are expected to be knowledgeable about our patients’ care and practice. However, some mistakenly disregard the importance of the other main priority we need to acknowledge. The Electronic Healthcare Records (EHR) should indisputably be secured. Technology is rapidly increasing which benefits our nursing practice and especially the treatment for the ones we take care of. Computer software prevents medical errors and easily accessible though other agencies. The risks of data breaching can happen in any healthcare facility due to careless acts and misuse of information. HIPAA should constantly be apart of our work ethics. HIPAA regulations are on our data security to prevent breaching from happening by having security codes and
Various healthcare datasets play different roles in the healthcare sector. With the world working towards organization of information, efficiency and prudent information storage, the data sets are developed to suit the functions that they are designed for. In the healthcare sector, the major data sets are the HEDIS, OASIS and UHDDS. All these data sets work together to ensure that there is an efficient healthcare system that serves all citizens. This paper seeks to analyze each of these data sets in regards to their function, applicability and value added to the healthcare system.
Big Data is a concept that has existed for a while, but only gained proper attention a couple of years ago. It can be described as extremely large data sets that have grown so big that becomes almost impossible to manage and analyze them with traditional data processing tools. Big Data can be used by enterprises in by building new applications, improving the effectiveness, lowering the costs of their applications, helping with competitive advantage, and increasing customer loyalty. It can also be used in other industries to enable a better system and better decision-making. Big Data has become a valuable asset to everyone around the world and continues to impact society today.
• THE CLIENT A leading regional healthcare service provider Company B, or the company, is a 10 billion-dollar enterprise catering to over a dozen markets in Asia. With a clientele that includes the world’s top 10 pharmaceutical firms, it is among the leading healthcare service providers in the region. It offers a wide range of services that aim to make healthcare more accessible, with a focus on addressing major and persistent healthcare needs prevalent mostly in developing nations and disadvantaged communities. Company B harnesses big data to make its operations—and those of its clients—more seamless and efficient.
No firm can be a success without some form of risk management. Risk are the uncertainty in investments requiring an assessment. Risk assessment is a structured and systematic procedure, which is dependent upon the correct identification of hazards and an appropriate assessment of risks arising from them, with a view to making inter-risk comparisons for purposes of their control and avoidance (Nikolić and Ružić-Dimitrijevi, 2009). ERM is a practice that firms implement to manage risks and provide opportunities. ERM is a framework of identifying, evaluating, responding, and monitoring risks that hinder a firm’s objectives. The following paper is a comparison and evaluation to recommended practices for risk manage using article “Risk Leverage
As has been discussed before, risk identification plays an important part in the risk such as unique, subjective, complex and uncertainly. There are no two identical leaves in the world; similar, there are no two exactly the same risk either. Hence the best risk manger could not identify risk completely. Besides, risk identification assessment is done by risk analysts. As the different level of risk management knowledge, practical experience and other aspects between individuals, the result of risk identification may be difference. Furthermore, the process of identifying risk is still risky. Once risks have been identified, corporations have to take actions on limiting risky actions to reduce the frequency and severity of risky. They have to think about any lost profit from limiting distribution of risky action. So reducing risk identification risk is one of assessments in the risk
The Analysis of all the data gathered from healthcare sector or simply the healthcare analytics leads to improvements in quality of the healthcare programs and the ability to create new ones effectively. The possibilities to improve outcomes and contain costs from the analysing big data in healthcare is massive and something that needs to be considered.
Big data will then be defined as large collections of complex data which can either be structured or unstructured. Big data is difficult to notate and process due to its size and raw nature. The nature of this data makes it important for analyses of information or business functions and it creates value. According to Manyika, Chui et al. (2011: 1), “Big data is not defined by its capacity in terms of terabytes but it’s assumed that as technology progresses, the size of datasets that are considered as big data will increase”.
Operational risks are risks that may occur in the day to day activities, which may involve the process, systems, or people. Strategic risks are those risks involved with strategy. Positioning ones’ company with the right alliances and competing with fare prices will help affect future operational decisions. Compliance risks involve the many legislations and regulations a company must follow. The results could lead to high penalties and a company’s reputation could take a hit. Lastly, financial risks are always being monitored because oil, fuel, and currency rates are constantly fluctuating. By monitoring the fluctuating rates determines fare cost and balancing of the budget. “Like in any other industry, the risk exposure quantifies the amount of loss that might occur from any particular activity” (Genovese,