{"id":12309,"date":"2021-06-11T13:44:23","date_gmt":"2021-06-11T13:44:23","guid":{"rendered":"https:\/\/buffkinbaker.wpengine.com\/?p=12309"},"modified":"2021-08-02T21:53:29","modified_gmt":"2021-08-02T21:53:29","slug":"leveraging-the-chief-data-officer-in-healthcare-organizations","status":"publish","type":"post","link":"https:\/\/buffkinbaker.com\/blog\/leveraging-the-chief-data-officer-in-healthcare-organizations\/","title":{"rendered":"Leveraging the Chief Data Officer in Healthcare Organizations"},"content":{"rendered":"\n

The Chief Data Officer (CDO) in the healthcare industry has changed drastically over the past year, with recent events revealing the need for new ways to harness data and provide innovative insights to help the business adjust to unforeseen demands. Data has become a valuable commodity and levering that data is now key to developing business practices and efficiencies that will help to lower healthcare costs in the future. The CDO has moved from leading the technology and data strategies for the organization to becoming fully emerged in data and the role it plays in everyone\u2019s life, making this role one of the most important members of the leadership team.  <\/p>\n\n\n\n

The first CDO appointment was by CapitalOne in 2002, created as a response to the passing of the Sarbanes-Oxley Act, requiring more data governance. However, growth for the CDO role remained flat for the next several years, and as recently as 2012 only 12% of large organizations had a CDO. As data gained momentum, the need for a Chief Data Officer grew and by 2018, nearly 70% of organizations had a CDO. It is estimated that by 2025, over 90% of large companies, with many being in the healthcare industry, will have a CDO in their C-Suite.<\/p>\n\n\n\n

Jen Bradley, Partner says, \u201cInteroperability has created more of a need for the CDO role, especially within the healthcare space given the sensitivity of the information.  Now, more than ever, we have an abundance of data at our fingertips, and we are seeing an immediate need for a true executive to lead that practice.\u201d  <\/p><\/blockquote>\n\n\n\n

The Role of the Chief Data Officer<\/h2>\n\n\n\n

In most organizations, the Chief Information Officer has been responsible for data and technology<\/strong><\/a>, however, the data explosion has created the need for someone to help manage the data infrastructure. Many organizations are learning how to split the responsibilities around data between the CIO and the CDO. In the healthcare environment<\/a><\/strong>, the CIO is primarily focused on the proper functioning and security of the data center and less focused on research and analytics. As part of the executive team, the CDO oversees the governance, analytics, and security of the data, making data-driven decisions that demand accountability and create opportunities to improve revenues and boost productivity. There is no exact position description for a CDO in the healthcare industry, however, the expectations of the role are similar across the healthcare industry:<\/p>\n\n\n\n