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Big Data and Health Economics: Strengths, Weaknesses, Opportunities and Threats

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  • Brendan Collins

Abstract

‘Big data’ is the collective name for the increasing capacity of information systems to collect and store large volumes of data, which are often unstructured and time stamped, and to analyse these data by using regression and other statistical techniques. This is a review of the potential applications of big data and health economics, using a SWOT (strengths, weaknesses, opportunities, threats) approach. In health economics, large pseudonymized databases, such as the planned care.data programme in the UK, have the potential to increase understanding of how drugs work in the real world, taking into account adherence, co-morbidities, interactions and side effects. This ‘real-world evidence’ has applications in individualized medicine. More routine and larger-scale cost and outcomes data collection will make health economic analyses more disease specific and population specific but may require new skill sets. There is potential for biomonitoring and lifestyle data to inform health economic analyses and public health policy. Copyright Springer International Publishing Switzerland 2016

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  • Brendan Collins, 2016. "Big Data and Health Economics: Strengths, Weaknesses, Opportunities and Threats," PharmacoEconomics, Springer, vol. 34(2), pages 101-106, February.
    • Handle: RePEc:spr:pharme:v:34:y:2016:i:2:p:101-106
    DOI: 10.1007/s40273-015-0306-7
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    Cited by:

    1. Weerasinghe, Kasuni & Scahill, Shane L. & Pauleen, David J. & Taskin, Nazim, 2022. "Big data analytics for clinical decision-making: Understanding health sector perceptions of policy and practice," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    2. Sonia Chien-I Chen & Chenglian Liu & Ridong Hu, 2020. "Fad or Trend? Rethinking the Sustainability of Connected Health," Sustainability, MDPI, vol. 12(5), pages 1-22, February.

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