Value co-creation and potential benefits through big data analytics: Health Benefit Analysis
Vuorela, Tarja (2018)
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Tiivistelmä
Big data analytics in healthcare context is often studied from a technical point of view. In the field of strategic management, researchers have indicated a research gap in how big data analytics create business value. This study examines how big data and advanced analytics generate potential benefits and business value for the healthcare service provider, and value for the individual patients and population health. In addition, the effects of advanced analytics to the value co-creation practices and actors in healthcare ecosystem are studied. The theoretical framework used for the purpose is the big data analytics-enabled transformation model which is adapted to answer the research questions. The study is conducted as a single case study. The studied case is the Health Benefit Analysis (HBA) tool. The empirical data is collected in eight semi-structured interviews with participants of the tool development project.
Using the HBA tool reveals several paths-to-value chains. The most evident path shows how using advanced analytics affects the personalized care practice by enabling a more interactive service process between the health professionals and patients. It denotes a business scope redefinition as patients are now being interpreted as essential actors in the value co-creation of their own health outcomes. The benefits that arise from the advanced analytics are of several dimensions; operational, managerial, strategic, and organizational. Using the HBA tool generates strategic business value for the healthcare service provider as a differentiator that contributes to gaining competitive advantage compared to other service providers not using this innovation. Value emerges for the individual patient as improved patient experience and better health outcomes. Population health gains most value from the reduced health inequalities.
The evolving value co-creation practices set requirements for the healthcare ecosystem actors as they need to conform to new practices with patients and other professionals from other sectors and levels of the ecosystem. The healthcare work and service culture need to develop and adapt to new tools, related processes, and a more diversified professional base, including health analysts and other new professionals. To conclude, it can be claimed that advanced analytics of healthcare big data contributes to the shift to value-based healthcare.
Using the HBA tool reveals several paths-to-value chains. The most evident path shows how using advanced analytics affects the personalized care practice by enabling a more interactive service process between the health professionals and patients. It denotes a business scope redefinition as patients are now being interpreted as essential actors in the value co-creation of their own health outcomes. The benefits that arise from the advanced analytics are of several dimensions; operational, managerial, strategic, and organizational. Using the HBA tool generates strategic business value for the healthcare service provider as a differentiator that contributes to gaining competitive advantage compared to other service providers not using this innovation. Value emerges for the individual patient as improved patient experience and better health outcomes. Population health gains most value from the reduced health inequalities.
The evolving value co-creation practices set requirements for the healthcare ecosystem actors as they need to conform to new practices with patients and other professionals from other sectors and levels of the ecosystem. The healthcare work and service culture need to develop and adapt to new tools, related processes, and a more diversified professional base, including health analysts and other new professionals. To conclude, it can be claimed that advanced analytics of healthcare big data contributes to the shift to value-based healthcare.