{"id":12585,"date":"2015-12-04T11:55:34","date_gmt":"2015-12-04T16:55:34","guid":{"rendered":"http:\/\/n2value.com\/blog\/?p=12585"},"modified":"2016-01-09T15:56:47","modified_gmt":"2016-01-09T20:56:47","slug":"catching-up-with-the-what-medicine-can-learn-from-wall-st-series","status":"publish","type":"post","link":"https:\/\/n2value.com\/blog\/catching-up-with-the-what-medicine-can-learn-from-wall-st-series\/","title":{"rendered":"Catching up with the “What medicine can learn from Wall St. ” Series"},"content":{"rendered":"

The “What medicine can learn from Wall Street<\/strong>” series is getting a bit voluminous, so here’s a quick recap of where we are up to so far:<\/p>\n

Part 1 – History of analytics<\/a> – a broad overview which reviews the lagged growth of analytics driven by increasing computational power.<\/p>\n

Part 2 – Evolution of data analysis<\/a> – correlates specific computing developments with analytic methods and discusses pitfalls.<\/p>\n

Part 3 – The dynamics of time<\/a> – compares and contrasts the opposite roles and effects of time in medicine and trading.<\/p>\n

Part 4 – Portfolio management and complex systems<\/a> – lessons learned from complex systems management that apply to healthcare.<\/p>\n

Part 5 – RCM, predictive analytics, and competing algorithms<\/a> – develops the concept of competing algorithms.<\/p>\n

Part 6 – Systems are algorithms – discusses ensembling in analytics and relates operations to software.<\/p><\/blockquote>\n

\n

 <\/p>\n

What are the main themes of the series?<\/p>\n

1.\u00a0 That healthcare lags behind wall street in computation, efficiency, and productivity; and that we can learn where healthcare is going by studying Wall Street.<\/p>\n

2.\u00a0 That increasing computational power allows for more accurate analytics, with a lag.\u00a0 This shows up first in descriptive analytics, then allows for predictive analytics.<\/p>\n

3.\u00a0 That overfitting data and faulty analysis can be dangerous and lead to unwanted effects.<\/p>\n

4.\u00a0 That time is a friend in medicine, and an enemy on Wall Street.<\/p>\n

5.\u00a0 That complex systems behave complexly, and modifying a sub-process without considering its effect upon other processes may have “unintended consequences.”<\/p>\n

6.\u00a0 That we compete through systems and processes – and ignore that at our peril as the better algorithm wins.<\/p>\n

7.\u00a0 That systems are algorithms – whether soft or hard coded – and we can ensemble our algorithms to make them better.<\/p><\/blockquote>\n

\n

 <\/p>\n

Where are we going from here?<\/p>\n

– A look at employment trends on Wall Street over the last 40 years and what it means for healthcare.<\/p>\n

– More emphasis on the evolution from descriptive analytics to predictive analytics to proscriptive analytics.<\/p>\n

– A discussion for management on how analytics and operations can interface with finance and care delivery to increase competitiveness of a hospital system.<\/p>\n

– Finally, tying it all together and looking towards the future.<\/p>\n

 <\/p><\/blockquote>\n

All the best to you and yours and great wishes for 2016!<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The “What medicine can learn from Wall Street” series is getting a bit voluminous, so here’s a quick recap of where we are up to so far: Part 1 – History of analytics – a broad overview which reviews the lagged growth of analytics driven by increasing computational power. Part 2 – Evolution of data […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"New N2value : Catching up with the \"What #medicine can learn from Wall St. \" Series http:\/\/wp.me\/p4mtfP-3gZ #hcldr #bigdata #","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[8,2,7,3,6],"tags":[],"class_list":["post-12585","post","type-post","status-publish","format-standard","hentry","category-finance","category-healthcare","category-leadership","category-physician-executives","category-process-analytics"],"jetpack_publicize_connections":[],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4mtfP-3gZ","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts\/12585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/comments?post=12585"}],"version-history":[{"count":10,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts\/12585\/revisions"}],"predecessor-version":[{"id":12967,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts\/12585\/revisions\/12967"}],"wp:attachment":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/media?parent=12585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/categories?post=12585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/tags?post=12585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}