I am currently working on a Predictive Analytics Project so uncovered some facts that you may find useful.

Let me start by explaining what Predictive Analytics is.

It is a field of data analytics that uses sophisticated algorithms, machine learning and artificial intelligence to analyze vast amounts of data to make predictions about trends or future events.

In a healthcare setting since the institutions have access to and can use data from Electronic Health Records (EHR) and Insurance claims, they can use real-time and historical data to forecast future heath trends and patient needs which would help the organization run more efficiently.

So how exactly does Predictive Analytics benefit the institution.

Prediction or Early Detection

The models can analyze patient data, lab results and risk factors which can help to identify individuals at risk of developing specific diseases. Their providers are notified and can intervene with preventative measures.

Personalization

The models can help develop treatment plans specific to the patients needs based on the medical and genetic data.

Resource Planning

Analytics can help the organizations predict and plan for a surge in demand for specific services and develop plans to resource as required allowing for more efficient resource utilization.

Readmission Reduction

By reviewing patterns, it can be used to identify patients more likely to be readmitted. Clinicians can then intervene and implement programs to avoid this happening.

Operational Benefits

It can be used to predict systems failures, allowing the maintenance teams to address issues early.

Seems like a win win for all doesn’t it.