ACT-IAC: Healthcare Data Analytics, New Data Tools Can Help Cut $220B From Deficit

A new report from the American Council for Technology and Industry Advisory Council estimates the federal government could cut $220 billion annually from the deficit through data analytics and private industry best practices, Federal Times reports.

The ACT-IAC’s institute for innovation said $70 billion of that figure could come through creative use of big data analytics in healthcare.

Nicole Johnson writes the McKinsey Global Institute estimates that the nation’s healthcare sector could save $300 billion total per year through big data.

The institute estimates $50 billion could be cut by using new information technology tools to share, access and analyze data on improper payments and uncollected taxes.

The largest share of savings, worth $100 billion, would come through investing in technology through use of industry best practices on productivity and spending.

Over 10 years, the institute estimates the government can save $970 billion through adopting best practices.

email
Filed in: Industry News Tags: , , , , ,

You might like:

Adnan Ahmed on CNSI’s Contract Vehicle Strategy and Advice for New GovCon Firms Adnan Ahmed on CNSI’s Contract Vehicle Strategy and Advice for New GovCon Firms
Dell Study: Global Healthcare IT Leaders Eye Cloud Dell Study: Global Healthcare IT Leaders Eye Cloud
FireEye to Help DC’s CTO Update City’s Cyber Platform; Tony Cole Comments FireEye to Help DC’s CTO Update City’s Cyber Platform; Tony Cole Comments
IBM to Help VA Search Electronic Health Records; Carolyn Clancy Comments IBM to Help VA Search Electronic Health Records; Carolyn Clancy Comments
© 2014 ExecutiveBiz. All rights reserved.