Health Care Strategic Management Term Paper

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Health Care Strategic Management

Data is very important for all companies as having a poor quality of data involves costs of many dollars to American companies. According to studies done in the U.S. The total value of the cost of wrong data to the companies is more than $600 billion and that was in 2002. The amount is certainly large and will also increase as the quantity of business increases, and that results in larger quantities of data being produced. Yet, the value as in money terms is not the only problem that is faced by companies every day due to data, and that is even truer for healthcare companies. Healthcare companies cannot function properly when they do not have the data properly stored.

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Thus it is important for these companies to make sure that their data is correct and maintained correctly. This also involves the understanding of the problems that can be caused by incorrect data. There are many methods available today that can keep the data correct and up-to-date. The most important data that they have is with regard to the data about customers and when they have errors in the form of incorrect addresses, wrong personal information, wrong customer names, or data not in one standard form, or with many records for the same individual, or even out of date, then it will cause a lot of difficulties for the healthcare company. (The Challenges of Data Management)….....

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