Question

In: Operations Management

Suppose there is a Big Data platform called ‘Wise Mind’ that could trawl through all the...

Suppose there is a Big Data platform called ‘Wise Mind’ that could trawl through all the EMRs of all the hospitals and learn from physicians’ diagnoses and outcomes (ignore regulatory issues for now, or assume that all the personal information has been redacted before the system trawls the hospital databases). How would insurance providers – the firms that pay the hospitals, physicians, and clinicians for their services – use this system? Provide one clearly illustrated example.

Solutions

Expert Solution

With the help of such system the insurance company's can quickly validate the claims authenticity and will be able to make the payment accordingly. If the system is capable of trawl through all the EMRs of all the hospitals then the patients history in terms of his previous illness and treatments undertaken will be readily available to the insurance companies and this will help insurance companies to make a better informed decision.

Let us take an example of cancer protection insurance a person has bought recently and while buying the insurance person had declared that as pre-existing condition he never had been diagnosed with any type of cancer. The pre-existing condition was not covered under the insurance plant unit 24 months has been passed since the inception of the insurance plan. With in 12 months the person sends a claim regarding the treatment of cancer, Now under such situation the company can check all the ERMs and can easily validate the fact that his person was not diagnosed with cancer earlier and this is the first time it has been diagnosed with. This will make a valid claim get scrutinized in quick time and the insurance comapny as well as the patient will be beneficiary of such system.


Related Solutions

Cracking Fraud with Government’s Big Data What are some ways that data mining could be used...
Cracking Fraud with Government’s Big Data What are some ways that data mining could be used to detect fraud in health insurance claims? How could private insurance companies and public government agencies collaborate to combat insurance fraud? What types of business skills would be necessary to define the rules for and analyze the results from data mining? What business processes are necessary to complement the IS component of data mining?
Describe to the CEO how the 5Vs of big data could impact this analytic project
Describe to the CEO how the 5Vs of big data could impact this analytic project ?
Please include all classes including driver. IN JAVA Suppose that there is a big farm in...
Please include all classes including driver. IN JAVA Suppose that there is a big farm in California that supplies the majority of the Grocery stores in the twin cities with vegetables and fruits. The stores submit their orders and receive the shipment a week later. Based on the size of the orders, the farm management decides on the size of the truck to load. Create a Produce class that have an instance variable of type String for the name, appropriate...
1. What is BIG DATA how could retailers use them? 2. Excluding the creation and administration...
1. What is BIG DATA how could retailers use them? 2. Excluding the creation and administration of cryptocurrency such as Bitcoin, how could BLOCKCHAIN TECHNOLOGY help retailers improve their operational efficiency. Give one example. 3. Outline the principles of benchmarking for a retailer.
Nowadays, most research investigating social networks is done based on big data collected through sensors and...
Nowadays, most research investigating social networks is done based on big data collected through sensors and other technical equipment connected directly to individuals (phone applications, Bluetooth, localization, etc.). This data includes parameters such as tone, pitch and volume of voice, length of information exchange and conversation, gestures, body movement, physical proximity, and much more. This data, when analyzed, reveals a lot about human behavior. This data is valuable to organizations because it can help them identify causes of low productivity,...
The concept that all data and transactions on the Internet must be treated equally is called...
The concept that all data and transactions on the Internet must be treated equally is called _______________________________. A. Moore's Law B. ISP Equality C. Net Neutrality D. Service-oriented Architecture
Titan Computer Company manufactures a tablet computer called All Pad. The company sells these tablets through...
Titan Computer Company manufactures a tablet computer called All Pad. The company sells these tablets through large big box retailers. This tablet computer is less expensive than similar products sold by All Pad’s competitors and has 16GB of internal storage compared to 32GB or more as offered by Pear Corporation, the leading competitor. The Titan Computer Company has recently experienced some increased production costs resulting from significant rework, whereas Pear’s reputation for quality is unmatched, and the company sells its...
Suppose that ABCD is cyclic, so there is a circle through all four of its vertices....
Suppose that ABCD is cyclic, so there is a circle through all four of its vertices. Prove that (?A) + (?C) = 180? and (?B) + (?D) = 180?.
Suppose that investors treat all bond maturities as perfect substitutes. What is this called and what...
Suppose that investors treat all bond maturities as perfect substitutes. What is this called and what would the yield curve look like if there is no future change in expected change in interest rates? Also, show graphically what would happen to the relative yields in short-term maturities and long-term maturities when the Fed engages in quantitative easing.
Python programming problem! Suppose that there is a json file called data from the desktop. I...
Python programming problem! Suppose that there is a json file called data from the desktop. I want to print the value with the key of "year" and "country". Json file below: { "A":{ "year":11, "grade":A, "country":America}, "B":{ "year":18, "grade":C, "country":England}, "C":{ "year":19, "grade":B, "country":China},} I want a code that I can only replace the name of key from year to grade and the code could be work.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT