Once upon a time, a large national healthcare payer’s enterprise information management systems could not effectively manage the volume of the organization’s data and content.
Authoritative sources of data were lacking leading to data inconsistencies, redundant data entry across the value chain, business inefficiencies, and difficulties providing holistic reports on business status and quality.
- Content was disorganized, stored in varied locations, lost among multiple versions, or stored locally on user’s drives, thus not searchable or easily shared and made document review and approval cumbersome and error-prone.
- The company was also unable to scan or share documents efficiently, hampered by format issues: inconsistent form layouts, unreadable email attachments, and illegible documents that required re-keying to be saved.
- Beyond these hurdles, they encountered issues with archiving data and content from both their paper and digital landscapes; the manifold steps required to archive resulted in process delays, increased costs, and decreased customer satisfaction.
- The company needed to better govern their information, define master data sources and data standards, streamline intake, storage, tagging and retrieval of the high volume of content, as well as implement appropriate information management solutions and archival practices to enhance compliance with regulations, optimize business processes and give their users control to search and manage their information.
Today’s firms are not only challenged by increasing data generation and management of uncontrolled information growth but also need to comply with an increasing number of ever-evolving data standards and industry reference models.
Additionally, life science firms must tightly integrate business processes and data internally and externally with business partners as their businesses become more virtual and outsourced. Essentially, harmonize their information models across multiple points to simplify the assimilation of newly acquired entities.
Why? Life science firms feel the pressure to improve business productivity and reduce time spent searching for information or reinventing the wheel. They want to increase the pace of innovation by harnessing data to uncover opportunities – building on work that’s already been done.
Enterprise Information Management (EIM) provides a pathway for these digitally progressive organizations to discover and implement solutions for optimal use of information - delivering the opportunity for better decisions based on day-to-day enterprise insight and analytics.
EIM, according to Gartner, is an integrative discipline for structuring, describing and governing information assets across organizational and technological boundaries to improve efficiency, promote transparency and enable business insight – and it is driving today’s life sciences firms forward.
What Traits Distinguish Successful EIM?
- EIM is a business-led program that recognizes information as an asset that drives better business outcomes. With EIM, chief data officers, CIOs and IT leaders can align investment programs with information assets to deliver the desired business advantages.
- The universe of healthcare data is expanding to include new producers and consumers that are driving unprecedented IT demand and a compelling need for enterprise information management. CIOs should use this research to create the momentum for developing the enterprise strategy.
- EIM is a framework for delivering information advantage. Organizations that establish a single point of accountability for EIM will affect change and drive policy.
- EIM is not a single technology or component but a framework of disciplines for information management across the enterprise.
- EIM encompasses the processes, policies, technologies, and architectures that capture, consume, and govern the usage of an organization's structured data and unstructured content. EIM enables businesses to derive more value from their data and content.
Harnessing and controlling information is essential to optimizing the pace of innovation, streamlining operations and making smarter – faster – decisions. A successful EIM program will help an organization move to a future state that supports key business drivers across the entire value chain.