According to the findings, C-Suite executives seek the right mix of mind and machine to leverage data, understand risk, and gain competitive advantage. When asked which of the following best describes the key strategic decisions their organisation will need to make in the next five years, healthcare executives say they are focused on developing /launching new products or services, developing partnerships and investing in IT.
This is a sign that the industry is adapting to a value-based care model, using data and analytics to help them better manage population health and improve their services to consumers.
For healthcare executives, obtaining market leadership and a need to survive will be a key motivator when it comes to strategic decision making. This is consistent with their belief that over the next five years, the industry will undergo a shift as systems become value-oriented and new entrants have a greater presence.
In response, healthcare payers and providers are not using analytics to disrupt their business but rather help their operations more efficient, achieve better outcomes and offer a better customer experience.
Yet the majority of healthcare executives say that their organisation is not highly "data driven".
This tells us that healthcare businesses tend to make decisions based on traditional approaches and intuition rather than those informed by analytics.
Download the chart or data pack to learn more about the perspectives of healthcare executives and how they are using data to inform their strategic decisions.
For more information about PwC’s Global Data and Analytics Survey 2016: Big Decisions™ visit, www.pwc.com/bigdecisions.