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Study: Big data could provide huge savings for the healthcare industry

As physicians practices and hospitals start to analyze the structured and unstructured information stored in their electronic health records, generated by mobile health applications and collected by sensors, they could see $300 billion in savings every year by eliminating inefficiencies and errors, according a recently released Rock Health Report.

Dr. Bonnie Feldman, the report's author, found that big data implementation has the potential to reduce fraud, improve efficiency in administrative work and clinical processes, and advance care coordination. Ready or not, healthcare may already be on this trajectory, as Feldman found that by 2016, 4.9 million patients will be able to monitor their health with remote medical devices and tech-savvy consumers will have downloaded 142 million healthcare mobile applications.

However, all of that incoming data won't be usable or helpful if it isn't organized and verified for data quality.

"Often, consistency in data means getting things into a structured format, but it's balancing that getting things into a structured format with making it work within a provider's office," said Greg Chittim of Arcadia Solutions, as quoted by EHR Intelligence. "Quality of data is often one of the easiest fixes to make in terms of EHR adoption and usage."