New England Journal of Medicine - Digital Data - Management Assignment Help

Assignment Task:

The Case Study
According to a study published in the US News and World Report in 2010, the cost of medical malpractice in the United States is $55.6 billion a year, which is 2.4 percent of annual health-care spending * . Another 2011 study published in the New England Journal of Medicine revealed that annually, during the period 1991 to 2005, 7.4 percent of all physicians licensed in the US had a malpractice claim against them. These staggering numbers not only contribute to the high cost of health care in the US, but the size of successful malpractice claims also contributes to high premiums for medical malpractice insurance. A report from McKinsey (May 2014) † Unleashing the Value of Advanced Analytics in Insurance states:
The proliferation of third-party data sources is reducing insurers; dependence on internal data. Digital data exhaust; from social media and multimedia, smartphones, computers, and other consumer and industrial devices — used within privacy guidelines and assuring anonymity — has become a rich source for behavioral insights for insurance companies, as it has for virtually all businesses. Recently, the release of previously unavailable or inaccessible public-sector data has greatly expanded potential sources of third-party data. The US and UK governments and the European Union have recently launched " open data" Web sites to make available massive amounts of government statistics, including health, education, worker safety, and energy data, among others. With much better access to third-party data from a wide variety of sources, insurers can pose new questions and better understand many different types of risks.

The UnitedHealth Group: America's most prominent health insurance provider has collated a range of data and wants to develop a better understanding of its claims paid out for medical malpractice lawsuits. Its records show claim payment amounts, as well as information about the presiding physician and the claimant for many mediated or settled lawsuits this year. You are a Data Analyst working for UnitedHealth Group. Your Manager – Edmond Kendrick has asked you to conduct a preliminary analysis of collected data. In particular, you are expected to perform a series of descriptive and inferential analyses and produce a report based on your findings.

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