For those who don't know what Predictive Analytics is, we'll explain: it is a process that uses data to discover past patterns that can signal future events, thereby aiding decision-making.
Today is World Health Day. We believe it is only a matter of time before this field is revolutionized by the union of current and future technological innovations. They will assist not only in decision-making, but also in testing, diagnosis, behavioral analysis, among other important activities for patient treatment and healthcare management. Eduardo Prado, a market consultant in new business, innovation, and trends in healthcare "Big Data", listed 5 ways to leverage Predictive Analytics for this purpose:
1. Population Risk Stratification
Classify patients as low, medium, or high risk. Use this information to allocate resources across the entire population, identify high-risk patients, alert providers and managers who will care for these patients, and define interventions to prevent others from becoming high-risk.
2. Workflow Automation
Couple Predictive Analytics with process automation tools that provide providers with the ability to reach patients with care needs and allow managers to reach patients in various ways, ranging from high-level management to web-based education and counseling.
3. Readmission Prevention
Use Predictive Analytics to identify which patients are most likely to be readmitted. Intervene so they receive the support they need to avoid readmission. Here, the strategy to keep the patient's health stabilized outside the hospital environment will be fundamental to reducing the risk of readmission.
4. Provider Attribution and Risk Adjustment
Apply risk adjustment to evaluate the performance of individual service providers (e.g., physicians), facilities, and your entire organization compared to others. Use risk adjustment to measure service variations, improve quality, and show payers and providers how your organization ranks service utilization and quality for healthcare management.
5. Financial Risk Calculations
Calculate how much your service delivery is likely to cost for your population in future periods. Use these numbers to determine whether your organization will lose or make money under proposed types of healthcare service delivery contracts.