3 Ways to Employ Predictive Analytics

While the prospect of diving into your business analytics seems daunting, it is a necessary step to improve outcomes and focus your organization towards growth. Predictive analytics takes your company information to the next level by estimating future outcomes based on patterns in the historical data.

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In addition to workflow strategies, staff training and being human all play a role in helping healthcare centers get ahead of infections, medication errors and falls, analytics are becoming increasingly important in the new age of digital care. When your company data is looked at from a holistic perspective it gives you the ability to drill down into the areas that need improvement and scale back in the areas where things have reached a point of improvement. Predictive analytics can benefit your healthcare organization in several ways, today we will dive into three that we’re seeing as a trend for 2020.

1. Appointment Management

Sites that operate without fixed schedules, such as urgent care centers and emergency departments, need to vary their staffing levels to ensure they are meeting the levels of patient intake. Using analytics to predict patterns can help ensure these centers are staffed appropriately and patient wait times are kept at a minimum.

In North Carolina, Wake Forest Baptist Health discovered their oncology infusion center was seeing an influx of appointments midday, which overloaded their capacity and left many patients feeling dissatisfied regarding their service. Once they employed an analytic solution, they were able to round out this spike in patient appointments and move the infusions to earlier or later slots to relieve the pressure in the afternoon.

2. Patient Satisfaction and Engagement

As patients are moving to consumers of healthcare services, it has become vital for both providers and insurance companies to look at promoting overall wellness and reduce long-term spending. Predicting patient behaviors has become a key component to develop effective communications and receive feedback for services rendered.

Predictive analytics helps providers know what is working and what is less engaging, and how they can anticipate the best outcomes gives the complex characteristics of their patients. Currently, Anthem is using data analytics to create patient profiles that allow the payer to send tailored messaging to improve customer retention and discover which strategies are likely to have high impact.

When they are able to see the predictive models in action it helps them prioritize the patients that are going to be receptive to changing their habits to improve their nutrition and lifestyle.

3. Stronger Data Security

In an age where digital threats are at an all-time high, it’s important to employ predictive analytics to aid in your company’s cyber security defense. Using analytics to monitor patterns in data access, utilization and sharing are able to give organizations the ability to detect threats and issue an early warning when something is out of the normal string of events for their system. Predictive tools and machine learning techniques can calculate real-time risks for specific transactions or requests and can then craft custom responses based on the historical data outcomes.

“This strategy could be particularly effective for preventing ransomware from affecting a healthcare organization,” added ICIT Senior Fellow James Scott. “Early adoption of sophisticated algorithmic defenses such as machine learning or artificial intelligence solutions will transform healthcare cyber defenses beyond the capabilities of average attackers.”

In order to develop a successful analytics initiative that can overcome every obstacle from data collection to point-of-care reporting, providers must not only understand where the challenges lie, but also what lies ahead once they overcome their issues. Predictive analytics may seem like an over reliance on machines, but in a world with an overabundance of data and information - automation and machine learning are some of the tools capable facilities use to stay on top of the growing workflow.

Get in touch with us for a full analysis of your current system to see how we can increase your bottom line, decrease denials and bring your organization to the next level.

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