recent big data analytics project with the STFC Hartree Centre has assisted
Albatross Financial Solutions in optimising the patient cost benchmarking service it
provides to NHS Trusts, helping them to validate and predict costs more
accurately and establish best practices.
of us will contract an illness or incur an injury at some point in our lives
and require a medical procedure to resolve it. Diagnosis, consultancy,
treatment, aftercare – all of these activities have an associated cost. For
most patients, the National Health Service (NHS) foots the bill, but how do
they standardise and predict costs in order to allocate their resources
efficiently and accurately?
Financial Solutions provides a Patient Cost Benchmarking (PCB) service that
compares and validates detailed cost and activity information from different
organisations. This enables NHS Trusts to identify areas for improvement and
adjust processes to maximise on resources.
The company wanted to develop a more advanced service
providing more detailed insights, but this meant analysing, exploring and
interpreting much larger quantities of complex healthcare data at a time, including approximately 40
Hartree Centre worked with Albatross to create a new analytics model on a
consolidated platform that will enhance decision-making and enable NHS Trusts
to benchmark costing criteria more accurately.
Mike Hamilton, Albatross Financial Solutions, said: “Whilst
Albatross can deliver detailed individual analysis for our customers, analysing
the entire national dataset is far more complex and time consuming. We gave the
Hartree Centre two clear objectives during the project’s proof of concept phase
and I am pleased to say that they delivered detailed insights in to the entire
dataset quickly and effectively. We’ve no doubt that our results will go on to
benefit the NHS in future.”
Read the full case study.
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