How is predictive analytics beneficial to health care sector?
Predictive Analytics in Healthcare
Predictive Analytics is rapidly becoming one of the most-discussed, perhaps most-hooked topics in healthcare analytics. Many cases predictions were made for the sake of making a prediction which was later realized as a waste of time and money. However, in the healthcare sector, prediction is most useful when the acquired knowledge can be transferred into action.
The opportunity that currently exists for healthcare is to define what predictive analytics means “Predicting what will happen” in healthcare industries and how can it be used most effectively to make improvements. For example, predictive analytics for tracking COVID-19 patient and improving patient care, chronic disease management, hospital administration can help improve the quality of healthcare services and control costs.
For Healthcare, the common challenge is how predictive analytics can successfully move from academic research to fully developed and working implementation in a live hospitals or healthcare environment. Further, the predictive analytics should also result in tangible results such as improvement in healthcare service, reduction of time to act on critical patients and control costs.
Predictive analytics is increasing in its application and has been extremely useful in healthcare during our current COVID-19 pandemic. Using the data from google one can make clean and simple dashboard to understand COVID-19 patients and predict how the virus is spreading within the country/world and where it is heading. Ultimately, it helps health professionals, government first responders and policymakers determine, where the high-risk areas or population are concentrated (like senior citizens’) and can take precautions.
Benefits with predictive analytics in Healthcare
Having given an idea about how predictive analytics have helped the healthcare sector, let us dive down into some of the other benefits of predictive analytics in Healthcare.
- 1. Improving efficiencies for operational management of healthcare business.
- 2. Optimizes the increasing amount of data often stored in files by digitization of health records.
- 3. Ease of workflow, faster access to information, lower health care costs, improved public health, and the overall improvement of quality of life.
- 4. Significantly reducing health care wastage.
- 5. Development of new drugs and treatments, along with helping to avoid preventable deaths.
- 6. Faster processing of information to enable quicker settlement of insurance dues.
Predictive analytics has enormous potential, not just for patients but to caregivers as well. Going forward, it is becoming an integral part of service delivery in the health care sector, thereby making it a necessity and not a luxury. Using predictive analytics would help ensure that health care facilities can deliver exceptional services for a long time to come in an environment of population growth, while also addressing issues of timely treatment for patients and providing a more accurate diagnosis for patients.
At Nu-Pie, our team of data scientists, data engineers and consultants, can review your healthcare processes and identify potential avenues where you can progress towards predictive analytics and use the power of predictive analytics to further improve your service delivery. Contact us for free consultation at firstname.lastname@example.org.