Addressing the data problem in healthcare
Every decision healthcare orLife Sciences companies make can impact a person's health, so each decision should be made in the most informed way possible. While generating meaningful insights from data is the key to making these effective and informed decisions, that hasn't always been possible.
The problem is not a lack of data — the healthcare industry generates 30% of the world's data volume — but making the data useable1. Today, the World Economic Forum estimates 97% of hospital-generated data is not used2.
Why is the majority of healthcare data not used today?
- Fragmentation - the rate of data creation from new sources is outpacing data aggregation.
- Siloed data - Data stored in complex systems is often hard to extract in useable formats
- Privacy - Moving data increases the risk of privacy breaches and adds complexity to regulatory compliance
- Speed - Inability to share data at scale at the speed required to make critical decisions.
- Analytics - Identifying the right data for the right analytics question can often feel like finding a needle in a haystack.
Connect disparate health data with Datavant
Datavant makes the world’s health data secure, accessible, and usable. Our customers have access to a suite of connectivity tools to tokenize data, find and assess potential data partners, and compliantly connect datasets at the individual level while preserving patient privacy. We simplify the complexity of connecting the data you need so that the process is as frictionless as possible for you and your partners.
Datavant Connect is available as a Snowflake Native App in Snowflake Marketplace
The Datavant Connect tokenization engine (deployed as a Native App) enables customers to tokenize and transform their data within the Snowflake AI Data Cloud. Tokenizing on Snowflake accelerates data processing while protecting patient privacy, and provides additional benefits including:
- Tokenization at the source
- Bring tokenization to where the data resides for a more performant, secure, and scalable solution.
- Speed to insight
- With faster implementation time, organizations can reduce the time it takes to generate valuable insights from their data.
- Early users report 3-10x faster tokenization and 1-4x faster transformation speeds compared to on-premise tokenization.
- Unlock the power of the Snowflake AI Data Cloud
- Make data interoperable and connectable, accelerating analytics and insights.
- Identity resolution and no data movement with Snowflake Data Clean Rooms
- Leverage an identity resolution layer in the recently launched Snowflake Data Clean Rooms, enabling analytics and machine learning without the need to move data. This provides healthcare and life science customers with compute capabilities while protecting underlying data.
How it works
The Datavant Connect Native App for Snowflake is a database object installed in the customer’s account via the Snowflake Native App framework. A high level view of the Snowflake Native App Framework is shown below.
The Datavant Connect Native App is a tokenization engine that will provide two stored procedures for tokenizing PII and transforming tokens. After installation, these stored procedures can be executed by the consumer from their Snowsight console making it fast, easy, and scalable to tokenize.
The future of connected data
The future of connected data is cloud-first. Organizations can maximize their investment in the cloud, reduce data movement, and generate patient insights faster by tokenizing on Snowflake. This novel approach to data connectivity will more effectively address healthcare andLife Sciences data needs, including understanding adverse events from clinical trials, assessing the feasibility of real-world data for purchase, developing a longitudinal view of the patient journey, and more.
Ready to learn more?
Join us on July 25th, 12:00 pm EST for an interactive session with two Snowflake experts, Todd Crosslin, healthcare andLife Sciences global leader, and Haylee Alexander, clean room pioneer, an interactive demo from Datavant cloud solution architect Garrett Little, and a Q&A session to answer all of your burning questions.
Read up on the latest use cases and FAQ about cloud-first tokenization.
References
- RBC Capital Markets. (n.d.). The healthcare data explosion. Retrieved from https://www.rbccm.com/en/gib/healthcare/episode/the_healthcare_data_explosion
- World Economic Forum. (2019, December). Four ways data is improving healthcare. Retrieved from https://www.weforum.org/agenda/2019/12/four-ways-data-is-improving-healthcare/
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