Healthcare organizations are transforming to a digitalized database system to control various data. It includes patient records, providers’ credentials, finance, insurance data, location, and more. As we all know, the importance is not only to collect data but to know how to analyze and make use of the insights.
Different departments in a healthcare system share data among its departments for a structured organization. To achieve this, it has to have clean and accurate data, to begin with. Consistency should be maintained to share information across every unit.
Master data management tool will create a system of records to standardize, catalog, and create material and services. This will enable them to create a holistic view of what’s happening in and around the organization without compromising data quality.
Importance of Master data management in health care system:
The Healthcare sector utilizes two different sets of data. One is identity data, and the other is reference data which includes patients’ diagnosis history, lab test reports, medication codes, and information on previous treatments. So, it is vital to provide consistent insights on every piece of information possibly available across an organization.
It is crucial and mandatory not to mismatch patients’ data in the healthcare sector. Following to do so will lead patients’ safety at risk. Depending on what the organization wants, the needed data across the organization from the lab, radiology department, and pharmaceutical will be linked and merged into a patient’s profile. Masterdata management tools like prosol will analyze the collected data and go through a few processes to consolidate and change them into more structured and usable data.
During this process, the collected data will go through deduplication, removing the redundancies, integration, and governance to combine and steer clear of any errors because even a tiny mistake will have greater consequences concerning the patient.
It doesn’t mean the other data in a healthcare system is inconsequential. Data regarding providers, location, and insurance will also be consolidated and maintained throughout the master data management process.
Prosol in the healthcare sector:
CODA’s MDM tool Prosol has done the following framework for an Indian multinational pharmaceutical company headquartered in Mumbai:
- Standardization Segregation, Cataloguing, and Creation of Material / Service / Vendor Master
- Design implementation of Material / Service / Vendor Cataloguing Template and SOP.
- PROSOL tool implementation for Online Governance.
- Methodology to analyze risk pooling and correction of duplicates that impacts the inventory costs
- MRO Inventory of Data yet to receive from Customer
Another example of Prosol’s impact on an Indian multinational pharmaceutical company whose drugs reach 70 countries with a footprint that covers developed markets such as the USA, Europe, Japan, and Australia as well as emerging markets including India, the Philippines, and South Africa to name a few.
- Standardization Segregation, Cataloguing, and Creation of a Database of Material Master.
- Design implementation of Material Cataloguing Template and SOP.
- PROSOL tool implementation for Online Governance.
- Integration of PROSOL with MWT & SAP system
- Methodology to analyze risk pooling and correction of duplicates that impacts the inventory costs
- MRO Inventory of $180 Million, Prosol Duplicate reduction of 28%, approximate cost savings of $ 3.16M
