Health Analytics or Prescriptive Analytics is stepping into the future or leapfrogging where healthcare is so far behind other industries. BPI is looking at ways to tackle many of the pressing issues it faces today – from cost of providing care for value, operation optimization, to providing higher quality care.
Prescriptive analytics differs from predictive analytics in that it doesn’t stop at showing a likely outcome, but continues to demonstrate suggested actions to make healthcare providers and the organization more successful, financially stable or responsive to patient needs.
The benefits of such a capability range from the identifying areas of improvement in treatment and protocols to reducing the time of hospitalization, and lowering the cost of healthcare in general- from patient bills to the cost of operations in hospital billing departments.
We are looking at better ways to use prescriptive analytics in healthcare, ways which data, in a meaningful way, will support the administration but will not replace, only enhance human intervention. BPI's focus is in utilizing prescriptive analytics to provide a means for doctors and administrators to use critical data and information to support clinical, financial and operational decisions and put them on the path to value-based clinical and financial outcomes.
As a result, prescriptive analytics can provide short-term and long-term answers to administrative and health concerns alike – ultimately holding the potential to save more lives while reducing costs and mitigating risks from a financial and care delivery perspective.
Using prescriptive analytics, BPI expects data analysis automation to suggest actions that will enable the organization to test new approaches and ultimately create best practices to drive our business and operational objectives.