Fri, 12/07/2018

A recent McKinsey article on rebooting the chief analytics officer role mentions that only eight percent of companies are reporting they are leveraging data at scale across the enterprise. Since healthcare lags behind general technology adoption we can assume that this number is high for the industry. Additionally, they found a number of key roles chief analytics officers must play as catalysts for change:

Convening a coalition of equals: McKinsey talks about the role catalysts play in leading the process by bringing stakeholders together through consistent communication. Some of the key elements of success include:

  • People and processes are more critical then technology
  • Putting the business value front and center
  • Communicate. Communicate. And then communicate some more
  • Keep an eye ahead

Making analytics an enterprise thing: Catalysts lead the centralized team and the effort to communicate to the business pieces needed to build up decentralized capabilities so leveraging data becomes part of the lifeblood of the organization. Focus areas include working with business leaders to attract talent; creating the appropriate guidance to aid success; and strategizing with IT on data and technology strategy.

Integrating advanced analytics into the workflow: Catalysts must help lead and direct the business on how to integrate advanced analytics into workflows and decision making. This helps business leaders transform into an analytically driven organization.

Be a passionate data cheerleader: Catalysts must be change agents; cheerleading is required to drive true organizational change to adopt a data driven culture that may take years.

Educating key stakeholders: Catalysts have a key role to advise their boards and CEOs on the foundational challenges an enterprise approach to leveraging data faces. They must present a delicate balance of both the opportunity and the difficulty of the journey through one-on-one meetings and other venues. This is critical to both appropriately resource the initiative and to set realistic expectations.

When you take all this information in, it provides both a warning sign and a road map for the future. Healthcare leaders in IT or outside can take advantage of this digital dawn to shift their organizations for the upcoming years. This allows them to leverage the promise of data, or end up left behind. The opportunity to improve quality of care, reduce costs, and increase revenue lay ahead.

For more on this topic, Information Builders is hosting a panel discussion with two strategic thinkers who have been in the trenches leading efforts as catalysts for analytical change. Hear Dan Foltz from Parnassus Consulting, who helped lead St. Luke's award winning project and Rich Pollack, retired CIO from MD Anderson and most recently VCU Health, discuss:

  • Why a data foundation is critical to enable core healthcare strategies moving forward
  • Why a purpose built enterprise data layer outside the EHR is critical to unlock the potential of analytics in healthcare
  • How to take an ROI approach to data management

Sign up for this free webinar here.