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Healthcare data analytics has been in the spotlight more than ever in 2020 as healthcare agencies, hospitals, and state governments have been tracking COVID-19 cases and using those numbers to make decisions about how to respond to the ongoing pandemic. Everything from case counts to space available at local hospitals to predictions for the future of the pandemic are relying on healthcare analytics.

The importance of data analytics in healthcare isn’t only evident during a pandemic or times of emergency. The use of analytics is widespread, tracking and turning patient data into usable information that help show trends and problematic issues – everything from birth rates and opioid overdoses to how many nurses a hospital will need to hire can be gleaned from healthcare analytics.

Data analytics are being used in nearly all areas of healthcare including: reducing harm to patients, improving patient care and population health, predicting and responding to needs for increased staffing, and reducing healthcare costs.

Analytics Reduce Harm to Patients

Tracking healthcare data analytics is playing a big role in reducing harm to patients, including medication errors, healthcare-associated infections, and missed appointments or tests.

The Centers for Medicare & Medicaid Services (CMS) relies on healthcare analytics for nearly every project funded through its Quality Improvement Organizations (QIOs). During its contract cycle that ran from 2014 to 2019, CMS used data analytics to help improve the rates of readmissions and healthcare-associated infections in hospitals, reduce the use of antipsychotic medication in nursing homes, and improve blood pressure control and diabetes care in physician clinics.

Healthcare data analytics are now being used by CMS to battle the opioid epidemic and further improve care in hospitals.

But CMS isn’t the only healthcare organization using data to decrease misuse or abuse of opioids. Healthcare insurance providers have teamed up with data analysts to find a way to predict the possibility of an opioid misuse problem before it happens.

Electronic health records (EHRs), which are the computer systems used to store all patient health data, are being improved to send alerts when a patient has prescribed a combination of medications that could cause serious injury or death. Currently, these systems are only about 66 percent effective at catching life-threatening medication mistakes, but healthcare data analytics is helping to improve this rate.

Analytics Improve Patient Care and Population Health

Healthcare data analytics have shown that the care received by patients is only a small fraction of what keeps them healthy. Social determinants of health have been shown to have a much larger impact on health outcomes than healthcare alone.

In fact, social determinants of health factors account for about 80 percent of health factors, while access to healthcare and quality of care received only account for about 20 percent. Social determinants of health include education, income, employment, family and social support, community safety, air and water quality, housing and transit, tobacco use, diet and exercise, alcohol and drug use, and sexual activity.

Studying data analytics in healthcare has allowed researchers to determine the factors that impact health, and at what levels. Knowing and understanding these factors allows health systems, community organizations, government, and others to implement plans to improve health that go beyond traditional healthcare.

Improving patient care is another big area where healthcare data analytics are being used. As more and more areas of healthcare are moved online (telemedicine) and done through EHRs, the more readily accessible data about patient care becomes. This data can be used to evaluate practitioner performance, patient satisfaction, and health outcomes.

Being able to predict issues and when a patient might need care is where data analytics in healthcare is paving the way for the future. Ways healthcare analytics will be able to improve patient care in the future include mining patient health records, using wearable technology (like smartwatches), being able to monitor and collect information on patients on home, and decreasing medication errors.

In an interview with Patient Safety & Quality Healthcare, Christopher Rafter, chief operating officer of Tampa-based Inzata Analytics, says:

“Being able to predict health conditions based on population characteristics combined with personalized monitoring and take preventive actions to avoid costly emergency visits is a major cost saver for the entire system. Wearable health monitors, smart pill bottles, and virtual patient consultations provide physicians with better data about how their patients are doing and allow them to spot and treat patients before physical symptoms appear.”

Analytics Predict Increased Staffing Needs

While the role of technology in healthcare has increased dramatically, there’s one thing that hasn’t been replaced yet – direct patient care.

Human doctors, nurses, aides, and other medical professionals are crucial to the success (or failure) of the healthcare system. As we’ve seen during the COVID-19 pandemic, staffing plays a critical role in making sure patients receive the care they need. Intensive care units (ICUs) aren’t any better than a regular hospital bed without the highly trained nurses and doctors that staff those units.

Healthcare data analytics can be used to predict surges in patients, allowing hospitals to adjust staffing beforehand and avoid being understaffed when the need is the highest. Not only can ICU units use this data, but many other areas of the hospital can also leverage it, such as labor & delivery and surgery units.

Data can also be used to predict longer-term nursing and physician needs, allowing nursing schools and other medical trainers to recruit the right number of people to ensure staffing levels can be met in the future.

Analytics Reduce Healthcare Costs

Anyone who has ever received a hospital bill can likely agree that costs are a concern. The cost of healthcare has been on the rise for years, and many reports have shown that healthcare is one of the biggest expenses for families in the United States. Not only that, but rising costs have been reported to keep people from getting care early on, leading to more expensive emergency care down the road.

There has been a lot of effort in recent years to improve the cost of care through sharing cost data with the public, showing physicians how they compare with others in their areas, and using patient data to help those with chronic illnesses avoid costly emergency room visits.

Total Cost of Care

The Network for Regional Healthcare Improvement (NRHI) has been working to measure and report total cost of care for several years now by partnering with healthcare organizations to compile healthcare data into reports for physicians and the public. The reports show the total cost of care for each physician along with several other factors, including the complexity of patients and patient care. Data has shown that the factors driving healthcare costs vary from region to region.

Healthcare data analytics is also being used to reduce costs by decreasing repeat or unnecessary testing, decreasing readmissions to the hospital, and reducing emergency room visits. Studies have shown that unnecessary testing in healthcare adds billions of dollars to healthcare costs, and one report stated that costs are as high as $210 billion per year.

Price Transparency

Price transparency is another area where data analytics in healthcare is working to make a difference. Many organizations are pushing for better price transparency when it comes to the cost of procedures, tests, and other healthcare services, which allows patients to make decisions about what they deem is best.

Don Berwick, president emeritus and senior fellow at the Institute for Healthcare Improvement, says:

“We have really good data that show when you take patients and you really inform them about their choices, patients make more frugal choices. They pick more efficient choices than the health care system does.”

The Future of Cost Savings

It’s easy to see that the future of healthcare is in data analytics. Everything from patient care to staffing is dependent on knowing and understanding the data. Without data analytics in healthcare, tracking disease trends (like flu season, increased cases of diabetes, etc.) would be impossible.

Patient trends and outcomes would be difficult to improve. Costs of care and drugs wouldn’t be available to physicians or consumers, and competition wouldn’t be able to drive down those costs. Surges in staffing needs would be impossible to predict and prepare for.

Without healthcare data analytics, any improvement in care, costs, or any other category would be difficult to quantify. Healthcare needs analytics to continue improving, evolving and providing the best care for patients possible.

Finding quality candidates to join your workforce comes with its fair share of obstacles. It’s not easy to source applicants that match the specific skill sets you need with the experiences you’re looking for.

There are several deadly hiring sins recruiters or hiring managers make daily, including neglecting to create a talent forecasting plan, hiring solely on experience and academic credentials, rushing through the recruitment process, hiring based on subconscious biases, rejecting a candidate for being overqualified, waiting too long for the perfect candidate, and relying too much on a candidate’s references. 

As a talent management solution, direct sourcing is second to none. It empowers hiring managers to create a pool of qualified candidates available at your fingertips, saving you time and resources while helping you hire better, faster, and cheaper.

Let’s take a closer look at how direct sourcing offers a solution to 7 common mistakes hiring managers make through the recruiting process.

1. Failing to Plan for High Demand Periods

Flying by the seat of your pants may work in some industries, but human resources isn’t one of them. Failing to forecast upcoming talent requirements means when work demands ramp up, it’s a scramble to quickly find skilled candidates to support your changing business needs. Rather than being prepared to respond to booming business, you’re forced to make rash hiring decisions to quickly acquire new personnel, devastating the quality of temporary or permanent hires for your brand.

How Direct Sourcing Helps: Talent forecasting plays a major role in direct sourcing as a talent management solution. Identifying business trends and predicting peak business periods allows you to distinguish between needing help on a full-time or contract basis. Get a leg up on the competition by engaging independent workers within your talent pool. Set the contract terms that support the brand, including duration and compensation, and let your pre-sourced talent work for you.

2. Hiring Solely on Experience and Academic Credentials

The most experienced or most knowledgeable in your field doesn’t always translate to the best fit for your business. Keep in mind that you’re hiring a candidate – not their resume. The ideal applicant is not only highly qualified for the position but is also a match for your workplace culture.

Kat Boogaard of The Muse says this about the importance of being a good fit:

“Think about it this way: If you don’t have the technical capabilities required to do the job, you might be well-liked in the office, but actually executing the work will be a constant challenge for you. On the flipside of that coin, possessing the technical know-how—but not the soft skills —will usually end up with you having great ideas, yet being unable to actually communicate and implement those.”

 

How Direct Sourcing Helps: Recruiting with a direct sourcing strategy improves your ability to source candidates that are the ideal fit for your workplace. Drawing from a pool of talent that has previously demonstrated their skills and abilities keeps you from limiting your search to candidates who solely appear qualified on paper. Employing direct sourcing as a talent management solution enables you to do just that. Assess a candidate’s job performance and prioritize top performers for future deployment.

3. Rushing the recruitment process

Recruiting is a lengthy process that involves: attracting and engaging the right candidates, screening, interviewing, reference checks, onboarding and training. 

An opening on your team can lead to gaps in productivity and lost revenue, which puts pressure on hiring managers to quickly fill the position. This can lead to a poor hiring decision for the available position and quick turnover, an expensive mistake as the average cost of one bad hire is nearly $15,000!

How direct sourcing helps: A frequent need to hire within short timelines makes direct sourcing an optimal solution. Drawing from a pool of predetermined and engaged qualified candidates saves you time from sourcing candidates on a per-job basis. Maintaining a pool of candidates as your talent management solution helps to ensure a quick and effective hire every single time.

4. Hiring based on subconscious biases

Studies have shown that racially and ethnically diverse companies outperform their competitors by a whopping 35 percent, yet so many human resources professionals still hold unchecked biases from gender to age to race. Subconscious biases are not only damaging to creating equality and diversity in your workplace, but they also shed a negative light on your company’s brand. By refusing to address your subconscious biases within the recruitment process, employers limit their candidate selection, screening only applicants they falsely believe will succeed in the role.

How direct sourcing helps: Through a standardized recruitment process like direct sourcing, you’ll limit the potential of biases in your talent management and hiring practices. And since 67 percent of job seekers have acknowledged that a diverse workforce is important when considering job offers, diminishing subconscious biases has the potential to drastically enhance your brand’s productivity while increasing the numbers in your talent pool.

5. Rejecting a candidate for being overqualified

There’s a common misconception that exists among recruiters when it comes to overqualified candidates. Many fear over qualifications will lead to increased turnover as these applicants seek out career advancements or higher compensation. Dismissing a candidate for being too qualified only harms your own business, however, as these workers will quickly be snatched up by your competitors.

How direct sourcing helps: By hiring through direct sourcing and filling your talent pool, you’re only engaging candidates who are looking to work with your brand, giving you access to some of the best skilled workers in your industry. Keep highly qualified candidates engaged through a direct sourcing talent management program that provides your talent database with frequent check-ins and updates.

6. Waiting for the perfect candidate

In the recruitment process, time is money. This makes filling opening roles quickly and accurately a priority. Searching for the elusive “unicorn” causes many recruitment personnel to whip through high numbers of applicant resumes and interviews, overlooking the perfectly adequate candidate that may be right at your fingertips.

How direct sourcing helps: Through direct sourcing’s talent pools, you’ll create a database of qualified candidates ready to support your changing business needs. By re-engaging existing talent, you can drastically cut your hiring time and depend on tried-and-true candidates who bear the capabilities to succeed.

7. Relying Too Much on a Candidate’s References

There’s no denying the importance of conducting a thorough reference check on potential applicants. Doing so can offer essential insight on a candidate’s strengths and weaknesses while providing an evaluation of their soft and hard skills. However, putting too much weight in a candidate’s references can limit you from seeing a talent’s potential. After all, a candidate’s experiences are as unique as the company they work for, and performance can largely be affected by several factors, including environment, colleagues, and management styles. Just because one employee comes highly recommended by their references doesn’t necessarily mean they’ll succeed with you.

How direct sourcing helps: Investing your time and resources in a direct sourcing recruitment plan ensures your talent pool is always flush with vetted and trained candidates ready to get to work. Engaging and re-engaging these candidates creates a directory of some of the most proven talent in the business. In good time you’ll create a self-sustaining talent pool, and you can kiss those pesky reference checks goodbye.

VeriSource is Your Solution for Avoiding Deadly Hiring Sins

Our hands-off recruiting solution, VeriSource, is powered by industry-leading advisors for finding the perfect hire with an easy-to-use interface to manage the talent acquisition and application process from start finish.

Interview-ready candidates are passed on to your hiring managers, thoroughly vetted by us. The searching, screening, verifying, and recruiting is done for you so you can spend your time interviewing and hiring. Request a free trial or speak to a talent advisor (732-534-3888) to understand how our solution can work for you!

 

VeriKlick Announces VeriSource for Direct Sourcing with the Power of Candidate Verification

NEWARK, NJ, USA, October 29, 2020 /EINPresswire.com/ — VeriKlick, a candidate verification and talent management platform, has announced a new direct sourcing solution, VeriSource, an expert managed candidate sourcing tool.

VeriSource is the hands-off solution for companies across the nation for getting top talent, helping to contact, verify, and hire the right person in one ecosystem with automated tasks to verify resumes sourced from a vendor network. The solution offers direct sourcing and private talent pools for temporary staffing with the power of automated verification to find the perfect hire. VeriSource does the searching, screening, and verifying so you can spend time interviewing and hiring the best interview-ready candidates.

“Innovation is the key to progress and by far is an ongoing, primary strategic vision,” says Komal Dangi, Chief Executive Officer of VeriKlick, a product of Synkriom. “Our success is primarily based on the success that we can lead others to, and this requires not only structure, but listening to the needs of our customers. By doing this, we can gauge what we can do to meet those needs.”

VeriSource is the only direct sourcing program available with checks and balances, and in conjunction with VeriKlick’s verification and talent management platform, can be integrated with your company’s digital ecosystem, featuring direct sourcing with prescreening capabilities powered by AI/ML and voice biometrics.

As the market for contingent workforce management grows, VeriKlick meets the demand with innovation.

Dangi asserts, “We filter fake and junk applications and resumes to enhance recruitment ROI. With our product, you’ll drive down costs with effective screening and process optimization. Our seal of endorsement for top talent comes with the creation of fool-proof layers on all your searches and selections.”

To reach and hire the best job candidates, VeriSource will team with you to meet hiring manager needs. Request a free trial to get started or speak to a talent advisor (732-534-3888) to understand how we could work for you.

About VeriSource

VeriSource is full-service candidate sourcing. The hands-off recruiting solution is powered by industry-leading advisors for finding the perfect hire with an easy-to-use interface that lets you manage the talent acquisition and application process from start finish. Get unlimited access and communication with their talent advisors. Interview-ready candidates are passed on to your hiring managers, thoroughly vetted by VeriKlick. The searching, screening, verifying, and recruiting is done for you so you can spend your time interviewing and hiring. For more information, visit veriklick.com/products/verisource

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