Question

What types of tools do you utilize to make personal or business decisions?

What types of data does your organization collect? How is it collected? ( Healthcare settings)

Answer 1

Ans) Types of tools:

• Decision matrix – A decision matrix helps you evaluate all the options of a decision. When using the matrix, create a table with all the options in the first column and all the factors that affect the decision in the first row. Next, score each option and weigh which factors are of more importance. A final score is then tallied to reveal which option is the best.
• T-Chart – This chart is used when weighing the pluses and minuses of the options. It ensures that all the positives and negatives are taken into consideration when making a decision. This is also known as creating a pros and cons list.
• Decision tree – This is a graph or model that involves contemplating each option and the outcomes of each. Statistical analysis is also conducted with this technique.
• Multivoting– This is used when multiple people are involved in making a decision. It helps whittle down a large list of options to a smaller group to, finally, the eventual final decision.
• Pareto analysis – This technique is useful when many decisions need to be made. This helps prioritize which ones should be made first by determining which decisions will have the greatest overall impact.
• Cost-benefit analysis – This technique is used when weighing the financial ramifications of each possible alternative to determine what makes the most sense from an economic perspective.
• Conjoint analysis – This is a method used by business leaders to determine consumer preferences when making decisions.
• SWOT Analysis – SWOT stands for strengths, weaknesses, opportunities and threats, which is exactly what this planning tool assesses.
• PEST Analysis – An acronym for political, economic, social and technological, PEST can improve decision-making and timing by analyzing external factors. This method considers present trends to help predict future ones.

- Health care involves a diverse set of public and private data collection systems, including health surveys, administrative enrollment and billing records, and medical records, used by various entities, including hospitals, CHCs, physicians, and health plans.

- Data on race, ethnicity, and language are collected, to some extent, by all these entities, suggesting the potential of each to contribute information on patients or enrollees.

- The flow of data does not even fully reflect the complexity of the relationships involved or the disparate data requests within the health care system. Currently, fragmentation of data flow occurs because of silos of data collection.