How Predictive Analytics in Healthcare Improves Quality of Care and Reduces Costs

In our current world of mind-boggling innovations, it is possible to now imagine a world where doctors can predict our health issues before they become severe. Even though that might be hard to imagine, it is not science fiction but a reality. Predictive analytics in healthcare is the means that doctors now use to foresee a patient’s health condition.

But how can predictive analytics in healthcare improve the quality of care and lower care costs?

Reduces Readmissions

Hospital readmissions usually occur when a discharged patient is readmitted again within a specified timeframe. They are costly, but a healthcare institution can reduce them with predictive models.

Predictive analytics in healthcare can identify patients who are at a higher risk of readmission based on their medical history, previous treatments, and comorbidities. The findings from that prediction show that patients who need extra care—and with that extra care—reduce their chances of coming back to the hospital. 

Improves Accuracy and Efficiency in Patient Care

One major reason for the rising cost of healthcare is inaccuracy and inefficiency in patient care. The use of predictive analytics in healthcare can improve accuracy and efficiency, making it one way to reduce care costs.

Predictive analytics for healthcare leverages machine learning and algorithms, which allow healthcare professionals to process vast sets of data quickly and accurately. The findings are then used to make precise predictions about the patient’s health, reducing the risk of medical errors, which are usually very costly.

Managing Chronic Conditions

Another benefit of predictive analytics in healthcare is managing chronic conditions. The incredibly powerful tool helps doctors develop health plans based on a patient’s risk factors for developing chronic conditions. Predictive analytics allows doctors to group patients and then develop care plans to suit each patient’s needs. This proactive means of managing chronic conditions improves the quality of care by preventing complications and reducing the need for extensive care.

Developing Personalized Wellness Programs

Many organizations are investing in wellness programs to meet their employees’ holistic care needs. One way to optimize these wellness programs is through the use of predictive analytics, which provides critical insights into the most suitable programs for different healthcare population segments. Program customizations follow each employee’s preferences, resulting in reduced healthcare costs and better health outcomes.

Are You Ready for New Applications in Healthcare?

Every healthcare institution desires a practice that not only guarantees the quality of care but also has the means to keep healthcare costs at an all-time low. Luckily, we now have predictive analytics tools. Guideway Care is here to provide you with an operational component to drive total cost of care performance while reducing healthcare costs. Contact us today to learn how to leverage the power of predictive analytics.