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MBA Careers: Data Analytics Key For Healthcare Leaders

Analytics necessary for healthcare managers to unravel data — which could revolutionize patient care by reducing risk, increasing efficiency and cutting costs.

By  Seb Murray

Sun Jul 5 2015

BusinessBecause
Global healthcare is dreaming of big data. The industry has become a treasure trove of rich information, which experts say has the potential to revolutionize patient care by reducing risk, increasing efficiency and cutting costs.

As digital health is a phrase on the lips of healthcare professionals everywhere, analytics has become a necessity for health leaders.

“We’re entering an era of personalized healthcare where patients expect to have a meaningful and convenient individual health experience,” says Kaveh Safavi, who leads Accenture’s health business. “The advent of real-time patient data, smarter technologies and individualized services will help health providers break from their traditional business models.”

A new Accenture report reveals that 84% of health executives agree their industry will need to focus on training both people and machines to manage a surge in clinical data, such as using algorithms, intelligent software and machine learning.

Data analytics has become a job description for an increasing number of healthcare management roles.

“Analytics is a core skill in many domains and healthcare is no different. Data mining, whether to optimize operations and customer experience or identify trends, is critical,” says Kimberly MacPherson, associate director of health management at California’s Haas School of Business.

Elisa Zagami, head of career development at MIP Politecnico di Milano, a top Italian business school, confirms the increasing recruitment of digital savvy executive students by big pharma groups, including Eli Lilly, Bayer and Novartis.

“Analytics is one of our core subjects, and is an essential tool in healthcare,” she says.

At the most senior level, the position of chief analytics officer is cropping up at healthcare organizations globally.  

This is because turning big data into business solutions represents a huge managerial challenge. “Understanding…How analytics can fit into an organization’s overall healthcare delivery strategy is significantly more important than being able to understand high-powered statistical tools,” says Professor Jeremy Petranka at Duke’s Fuqua School of Business, who researches IT strategy.

The rise of digital health has prompted a focus on technology in the education of healthcare workers.

Dr Rainer Sibbel at the Institute for International Health Management at Germany’s Frankfurt School, says that programs are focused on the impact of new IT based technologies on the business of health.

“Healthcare managers and executives are very aware of these developments and their potential, and observe them closely,” he says.

But there are significant hurdles that must be overcome to realize the potential benefits of analytics.

Professor Fred Hagigi, director of global health initiatives at UCLA Anderson School of Management, highlights the concerns over data privacy, and also the fragmentation of clinical data. “There is pushback,” he says.

Experts also point to the potential for patient data to be targeted by cyber criminals. High profile hacks, such as the attack on US health insurer Anthem this year, which compromised 37 million medical records, have stoked these fears.

Healthcare leaders agree that stringent safeguards are needed. But the potential benefits of big data remain a tantalizing prospect.

“I can see it as a very important tool in the very near future in global healthcare and in low income countries,” says Yehuda Bassok, chair of the data sciences and operations department at USC Marshall School of Business. “There is a huge need for people that can deal with data.”

Student Reviews

Duke University Fuqua School of Business

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31/10/2023

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Supportive atmosphere

The professors at Duke university exhibit exceptional commitment to the success and well-being of their students by ensuring their academic growth and fostering a supportive social atmosphere. Moreover, the entire community is recognized for its amicability and inclusiveness.

Maxwell

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30/03/2023

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Diversity

The people or the students are without a doubt Duke's greatest asset. While all students are driven to succeed, they are also enthusiastic about a variety of hobbies. You run across a huge lot of diversity. It is the ideal example of a school with well-rounded students and the ideal balance of campus life in a metropolis.

Anabelle

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27/02/2023

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Happy to school

All I could ever hope for is Duke University. That really epitomizes the "work hard, play hard" philosophy that elite colleges frequently pursue. Even though you'll have a lot of schooling to complete over the week, it's simple to keep focused because all of your friends are putting in similar amounts of effort. Many events taking place on and around campus on the weekends provide a great way to unwind. The combination of demanding academics and traditional college fun strikes the perfect balance.

Monica

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27/02/2023

On Campus

Good schooling

Living, eating, learning, and developing who you want to be as an adult are all fantastic at Duke. I participated in student athletics, and I couldn't have asked for a better interaction with the faculty and other students. I appreciate all of the help I get from the Duke community more than anything. Furthermore, the teachers take the time to get to know you, and the lectures are diverse and demanding (if you do the same). I'd give it a 10 out of 10.

Aline

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26/11/2022

On Campus

Beautiful School, Nice Classes

DU remains one the greatest and best universities that I have ever stepped in. The school is beautiful and neat. The classes are spacious and also very nice. I enjoyed attending my Lectures in those lecture halls. I also loved the Lecturers because of the good work they did. The university also has very good dorms that are given to students on first come first serve basis and they are affordable

Student

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29/06/2022

Blended

Amazing experience

I received my B.S. in Biology and B.A. in Global Health with a minor in Chemistry from Duke University. I was able to grow as a student, scientist, and global health advocate with the help of my friends, professors, and other mentors I met along the way. A lot to learn if you look and ask, a great place to learn for those who want to learn.

Student

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29/06/2022

Blended

whirlwind of growth and change

An amazing 2 years, with covid and everything else happening Duke has been a place of growth for me. The courses , classes were one of a kind, online and on campus. But the valuable lessons learned in the classes are irreplicable. The students are amazing here, so much diversity , I had no problem fitting in. The teachers are down right brilliant and so helpful. Don't be afraid to ask them anything. Graduated with my MBA with Duke and now my future awaits.

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29/06/2022

On Campus

One of the best for Business students

Graduated with an MBA. The classes were very insightful and engaging. The staff are very easy to deal with. The teachers and students, are truly amazing people. Grateful to all the people I've met along the way at Duke. I've learnt a great deal that will help me in my future endeavors. The campus itself is a marvel, it is beautiful.

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16/06/2022

On Campus

The university campus is awesome

I graduated with a masters degree in Religious Studies from Duke University. One thing I really liked about the university is its huge campus. It is spread in a large area with a lot of greenery and also have the facilities of reading rooms for single person also. My department building was very well taken care of. The library is immensely populated with books for all your needs. The faculty is very nice to students. The classes are equipped with latest technology to cater the needs of students. The University also provides room rentals for international students. They are very well maintained and priority is given to the International students for a comfortable stay there. There are weekly events conducted by the University as well as Student clubs for the entertainment of students. Anybody can take part in them and show their talents. I enjoyed my degree and I graduated in 2021 and was very happy that I had graduated from a reputed University.

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