How Business Analytics Is Quietly Powering the Future of Healthcare

Ever wonder what connects a hospital bed to a spreadsheet? These days, it might be your future job. From predicting patient outcomes to streamlining hospital operations, healthcare is no longer just about stethoscopes and scrubs. It’s about data too.  

And at the center of it all? Healthcare analytics. 

With a market size of 22.38 billion dollars in 2023, healthcare analytics is quickly becoming one of the most influential forces shaping the future of medicine.  

And the numbers don’t lie. Data is becoming just as critical to healthcare as clinical expertise. 

Here are a few ways healthcare analytics is changing the industry through business tactics: 

What is Healthcare Analytics? 

At its core, healthcare analytics takes huge volumes of healthcare data and turns it into meaningful insights that can range from helping doctors to better care for patients, to helping staff make daily operations more efficient. 
 
It's where data science and healthcare come together, and the reward can be life-changing. According to Fortune Business Insights, nearly 65% of hospitals planned to enhance their electronic medical records systems (EMR) in 2021, with more hospitals wanting to add enhancements.  

This rapid digital expansion has only increased the demand for professionals who can translate data into action. 

So, how does data become efficient? Let’s talk about it.  

There are many ways healthcare analytics can be utilized. Hospitals, for example, can use it to reduce wait times and prevent staffing shortages. Insurance companies can utilize it to detect fraud and even automate claims. Even government agencies focused on public health can use it to monitor the spread of disease and manage population health. 

In short, healthcare analytics is about making healthcare smarter. As data continues to grow, so does the demand for professionals who know how to use it. 

The Role of Business Skills in Healthcare Analytics 

Healthcare analytics isn’t just about collecting and analyzing data. It’s also about using that data to drive smart, strategic decisions.  That’s where the business side comes in. 

While technical skills are important, organizations also need professionals who can see the big picture, communicate findings clearly, and lead change across complex healthcare systems. 

With a Master of Science in Business Analytics specialization in Healthcare Analytics Online, students can obtain the critical layer of training that complements technical know-how with leadership, financial, and operational expertise.  

For example, it is not enough to know that a hospital has excessive readmission. A business and analytical expert can identify the reason, estimate the cost, and suggest a solution that aligns with the organization's goals. 

In today's healthcare sector, leaders who can drive decisions by data are required. And individuals who have the ability to integrate profound analytical experience with sound business acumen are well positioned to establish lasting, meaningful change within the industry. 

Healthcare Analytics Demand 

As healthcare systems become more data-driven, there’s a growing need for professionals who can interpret data and lead teams based on those insights. 

In fact, according to the U.S Bureau of Labor Statistics, medical and health services managers are projected to grow 29% by 2033. Since analytics has a fundamental role in cost-cutting as well as quality improvement in healthcare, there is a growing need for skilled professionals in this field. 

Additionally, the field of healthcare analytics provides competitive salaries and growth opportunities in career. According to the U.S. Bureau of Labor Statistics, the median annual wage for medical and health service managers is $110,680. 

Opportunities in healthcare analytics include: 

• Healthcare Data Analyst  

• Health Information Manager 

• Chief Analytics Officer 

 

These roles can be found across a wide range of settings, including hospitals, pharmaceutical companies, insurance providers, public health organizations, and health tech startups. 

Course Spotlight: INFS 6343 – Healthcare Analytics 

In UTRGV’s MS in Business Analytics with a specialization in Healthcare Analytics, students take courses like INFS 6343 – Healthcare Analytics to develop the skills needed to turn data into actionable healthcare solutions. 

This course introduces students to the tools and techniques for managing and analyzing healthcare data. Students learn how to process both structured and unstructured data, apply statistical analysis, and use visualization to present insights clearly. 

Course topics include: 
• Healthcare data measurement and statistical techniques 
• Artificial intelligence/data mining/machine learning 
• Reporting and visualization tools for clinical and operational decisions 
• Challenges in healthcare data privacy, security, and system interoperability 

By the end of this course, students can use real-world healthcare data to support decision-making and help healthcare organizations improve care delivery and efficiency. 

Why an MS with a concentration in Healthcare Analytics? 

If you're looking to make a difference in healthcare, but you’re more drawn to strategy, innovation, and leadership than clinical practice, an MS in Business Analytics specialization in Healthcare Analytics Online might be the perfect fit. 

This degree sits at the intersection of business, technology, and healthcare. It prepares you not just to analyze data, but to understand how to use it effectively within a complex system of care.  

That means students will graduate with the knowledge to solve problems in business and organizational contexts that require the application of information systems to carry out sophisticated business analytics techniques in the medical field. 

Why UTRGV? 

Our accelerated online MS with a concentration in Healthcare Analytics program prepares you to lead in a field where your skills can improve lives, shape the future of healthcare delivery, and drive meaningful change on a systemic level in just a year. 

Our program enables data-driven thinkers to develop their abilities to transform complex healthcare data into insights that guide their organizations in making more educated, actionable decisions. 

Ready to make your mark in healthcare? Start with UTRGV today! Apply Now! 

 

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Source:

https://www.fortunebusinessinsights.com/healthcare-analytics-market-102641 

https://www.fortunebusinessinsights.com/healthcare-analytics-market-102641 

https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm#tab-6 

https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm#tab-5 

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