In today's healthcare landscape, payers and hospitals are faced with the challenge of managing and utilizing vast amounts of disparate data from various sources. However, only a fraction of this data is actually usable at any given time. To put the scale of healthcare data into perspective, the World Economic Forum highlights a staggering fact: hospitals generate approximately 50 petabytes of isolated data annually. And surprisingly, about 80% of this data is unstructured thereby withholding valuable insights.
Real-time data insights are crucial for enhancing patient care and aiding payers and providers, particularly for elderly and critical care patients. One of the biggest challenges for payers and customers alike is the ever-increasing cost of healthcare. Providing the right care along with the value has become primary driver for the industry. All this can become possible only when data flows seamlessly, yet secured.
The Solution Fabric
In the swiftly evolving healthcare technology landscape, Microsoft is setting a new benchmark with its latest innovation: Microsoft Fabric for the Healthcare Industry. This transformative technology promises to revolutionize how healthcare providers manage data, collaborate, and deliver patient care. As we approach the official unveiling of Microsoft Fabric at the upcoming event by Sonata Software, anticipation is building among healthcare professionals and IT experts alike. Here's what we can expect from this groundbreaking technology.
A New Era of Integration and Interoperability
The commitment to seamless integration and interoperability is at the heart of Microsoft Fabric for the Healthcare Industry. Healthcare payers & providers often grapple with siloed information systems that hinder efficient data exchange and collaboration. According to a report, the lack of data analytics hinders innovation and contributes to the administrative complexity that’s linked to more than $265 billion in unnecessary annual healthcare spending in the United States.
Microsoft Fabric aims to bridge these gaps, offering a unified platform by adopting FHIR (Fast Health Interoperability Exchange) and OMOP (Observational Medical Outcomes Partnership) as a standard for exchanging patient information that ensures secure and smooth communication between healthcare systems and devices.
Sonata enhances the implementation with NLP Driven Industry Catalog, Pre-mapping with SAAS systems/Industry data model, Self-Healing Data Operations suite.
Enhanced Data Management and Analysis
Data is the lifeblood of modern healthcare, driving everything from personalized treatment plans to epidemiological research. The global healthcare analytics market size was valued at USD 43.1 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 21.1% from 2024 to 2030.
Microsoft Fabric leverages cutting-edge data management and analysis tools to help healthcare organizations harness the full potential of their data. With advanced analytics and AI capabilities, providers can gain deeper insights into patient health, improve diagnostic accuracy, and develop more effective treatment strategies.
Sonata helps in faster setup of Fabric with insights Driven Engineering Model, Automated Data and Pipelines Migrations.
Empowering Patient-Centered Care
Microsoft Fabric places a strong emphasis on supporting patient-centered care. The platform is designed to facilitate easier access to health records, enabling patients to take a more active role in their health management. Additionally, by streamlining communication channels between patients and providers with its ‘Patient outreach analytics’ Microsoft Fabric ensures that patients can receive timely and personalized care, enhancing overall patient satisfaction and outcomes.
Bolstering Security and Compliance
In the digital age, the security and privacy of health information are paramount. About 725 healthcare data breaches were reported to OCR in 2023. Microsoft Fabric is built with robust security measures to protect sensitive health data against cyber threats. Furthermore, the platform is designed to comply with healthcare regulations and standards, ensuring that organizations can meet their legal and ethical obligations while leveraging the benefits of digital innovation.
What to Expect at the Upcoming Event
The upcoming event promises to be a milestone occasion, offering attendees a firsthand look at Microsoft Fabric's capabilities and potential impact on the healthcare industry. Participants can expect:
- Live Demonstrations: Witness the power and versatility of Microsoft Fabric through live demos showcasing its integration, data management, and patient engagement features.
- Expert Insights: Hear from Microsoft executives and leading healthcare professionals about the vision behind Microsoft Fabric and its role in shaping the future of healthcare technology.
- Collaborative Opportunities: Engage with peers, industry experts from Sonata and Microsoft to explore collaborative initiatives and learn how Microsoft Fabric can be tailored to meet specific organizational needs.
Conclusion
As we stand on the cusp of a new digital era in healthcare, Microsoft Fabric represents a pivotal step forward in our quest to enhance healthcare delivery, patient outcomes, and data-driven decision-making. The upcoming event is more than just a showcase; it's a glimpse into the future of healthcare, illuminated by the promise of technological innovation. Contact Sonata for an assessment to adopt Fabric faster or inquire about Sonata's assistance with Fabric adoption in decentralized and disconnected data environments. Stay tuned, as we embark on this exciting journey together, unlocking the potential of Microsoft Fabric for the healthcare industry.