Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest article that outlines three use cases of predictive analytics in healthcare and sheds lights on its role in driving better outcomes across the value-based care continuum.
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Today predictive analytics plays a pivotal role in healthcare transformations, as it helps estimate the likelihood of a future outcome based on patterns in the historical patient data. With healthcare organizations developing more sophisticated predictive analytics capabilities, several high-value use cases for predictive analytics in healthcare exist throughout the healthcare ecosystem. By leveraging advanced predictive analytics in healthcare, payer and provider organizations can use real-time predictive insights to address their administrative, financial, and data security challenges and achieve significant improvements in efficiency and patient satisfaction.
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According to Quantzig’s predictive analytics experts, “Predictive analytics is a branch of advanced analytics that is used to make accurate predictions about unknown future events by leveraging various techniques such as modeling, data mining, statistics, and AI. These predictions offer unique insights that help healthcare organizations identify future trends in patient care both at a patient-level and at a cohort scale.”
Predictive Analytics in Healthcare: 3 Use Cases
Use Case 1: Insights to improve cohort treatment
The role of predictive analytics in healthcare spans several key areas. Using predictive analytics to analyze huge volumes of healthcare data helps healthcare firms to predict the likelihood of diseases and chronic illnesses to create early interventions that aim to reduce adverse impacts on the public health system.
The role of predictive modeling in healthcare is evolving rapidly and the best approach is to view this data-driven capability as a useful tool that augments decision-making. Book a FREE solution demo to learn more about the benefits offered by our predictive analytics solutions.
Use Case 2: Accuracy of diagnosis and treatment in personal medicine
Predictive analytics in healthcare offers several benefits by empowering doctors to leverage prognostic analytics and big data to predict and find cures for certain diseases that they might not be familiar with at a given time. Adopting such an approach introduces more accurate modeling for mortality rates at an individual as well as a cohort level.
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Use Case 3: Operational management of healthcare business operations
Predictive analytics in healthcare is currently playing a vital part in healthcare organizations’ BI strategies & decision making. By using predictive modeling in healthcare, businesses can gain real-time reporting capabilities that offer detailed insights into patient health and help adjust the predictive algorithms in line with discoveries and insights.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal