Deepak Mittal, CEOIt takes passion to start a revolution, and Deepak Mittal, CEO and founder of the company, xtLytics, may be doing just that for healthcare standards with his ‘360 degree data usage.’ This integrated method his company created, analyzes hospitals’ internal data with the external data of patients’ health and medicines, sourced from partners. The result—a holistic view of patients, pharmaceuticals, hospitals, and biotech companies with positive implications for patient treatment and their satisfaction.
XtLytics implements ‘360 degree data usage’ through their analytics platform. “Our platform features a big data integrator, workflow engine and a business rules engine, using Spark and Hadoop technologies. We have combined the power of easy-to-use visualization with the principles of text analytics, predictive algorithms, and operations research to operate on a large amount of internal and external data, generating deeper insights,” explains Mittal.
This ability to go deep in the data and uncover powerful insights helped a pharmaceutical company address a puzzling problem—how to increase drug adoption and market share.
“We worked with senior marketing managers to understand their pain points and provided them with insights into the drug’s efficacy, safety, and side effects; the impact of emotions and influences on different patient segments; the stages of patients’ journeys and their correlation to choice or change of medication,” explains Mittal. “The company then leveraged these insights to make data-based, business decision that translated into real benefits.”
By putting talent structures in place that aligned with the needs of buyers and influencers, they saw a 3 percent increase in market share. With better targeting, they increased sales by 7 percent and improved sales conversion by 20 percent, and by understanding their competition and providers’ prescription habits, they reduced customer attrition by 25 percent.
But hospitals and patients also benefit. With this knowledge, doctors can better understand drug-to-drug and drug-to-disease interactions.
xtLytics seeks to help more healthcare institutions deliver better healthcare outcomes
Thereby, a hospital’s quality of treatment improves and patient satisfaction increases.
Citing a case in which xtLytics helped a mid-sized hospital provide better quality of treatment, Mittal says, “Apart from a low HCAHPS (Hospital Consumer Assessment of Healthcare Providers and Systems) score and a low Leapfrog rating, we noticed gaps that if bridged, could improve patient satisfaction and healthcare outcome.” After analyzing information within and outside the organization, xtLytics developed a solution. “We suggested that utilizing patient-centered, cultural intelligence could improve the cost and quality of healthcare, patient satisfaction, and the hospital’s overall performance,” he adds. This helped the client achieve a higher HCAHPS score, amend the cost of treatment, and offer better services to patients.
XtLytics seeks to help more healthcare institutions deliver better healthcare outcomes. However, this requires access to greater amounts of data, and Mittal intends to expand his partner network of healthcare companies to address that. Partners play an integral role in executing ‘360 degree data usage.’ “Any company that generates data or offers services for healthcare, is a valuable partner,” he remarks.
Through this partner ecosystem, xtLytics is working to scale new heights in the deployment of healthcare technology. To this end, they are looking to collaborate with technology companies to extend their platform with customized dashboards that enhance clients’ workflow. But don’t expect xtLytics to stop there. Mittal sees the potential of Internet of Things (IoT) along with data from multiple sources to support clients with smarter solutions.
With their core value of helping clients achieve and maintain world-class standards at the forefront, xtLytics continues to develop innovative solutions, and they are looking at a bright future.