Outline three ways in which big data can reduce healthcare spending in Australia. (3 marks)
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- Predictive analytics: Analysing patient records, genetics and lifestyle data helps identify individuals at high risk of diseases such as diabetes. Early detection allows for timely interventions which are less costly than treating advanced illness.
- Preventing medical errors: Big data supports more accurate diagnoses and treatment planning. This reduces complications and extended hospital stays that increase costs.
- Targeted resource allocation: Insights from big data ensure funding is directed to high-impact areas. This helps increase efficiency across the healthcare system and reduce overall spending.
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- Predictive analytics: Analysing patient records, genetics and lifestyle data helps identify individuals at high risk of diseases such as diabetes. Early detection allows for timely interventions which are less costly than treating advanced illness.
- Preventing medical errors: Big data supports more accurate diagnoses and treatment planning. This reduces complications and extended hospital stays that increase costs.
- Targeted resource allocation: Insights from big data ensure funding is directed to high-impact areas. This helps increase efficiency across the healthcare system and reduce overall spending.