Leveraging the Power of Predictive Analytics Tools
With the increasing demand for healthcare efficiency and service, and having to work with limited budgets, there is much that payers and providers can do to leverage the power of predictive analytics and ensure that it delivers against their investment. It is a powerful tool to harness clinical data. When used correctly it can not only increase efficiency of patient care but reduce costs and maximize returns due to the accurate assessment of population health risks. The key is to budget for training analysts to make the entire process more cost effective. Planning for intelligent data preparation is essential in order to make the most of predictive analytics.
Reduce Hospital Acquired Conditions
For the most part, it is always prudent to implement an analytics framework that would enable data to be collected from various sources to address complex analytic problems. This can help create solutions to Predict Hospital Acquired conditions. The first phase involves determining how to best use your company’s data. This is followed by a period of implementation and testing that can prove most valuable in detecting problem areas such as high readmission rates and incidences of hospital acquired conditions (HAC’s) that lead to non-reimbursable costs. Predictive analytics software from healthcare solutions providers like Jvion offers opportunities to adjust the algorithms and predictive models according to changing data and trends, and improve accuracy rates for the optimal use of resources.
Predictive analytics focuses not only on a traditional clinical approach but on the psycho-social needs of patients and their family as well. Educating patients and their families to manage the condition more effectively and coordinate with various other services involved is one of major benefits of using these tools. Early interventions allow clinicians to have more time to provide instructions to patients.