|By PR Newswire||
|February 18, 2014 02:52 PM EST||
PALO ALTO, Calif., Feb. 18, 2014 /PRNewswire/ -- A new issue brief released by Health Fidelity, a healthcare big data company, describes how predictive analytics can be used to improve healthcare in the U.S. The issue brief, titled "Unlocking the Value of Healthcare's Big Data with Predictive Analytics," explains that predictive analytics play a vital role in assessing current healthcare organization performance metrics to forecast future outcomes.
Technology improvements, coupled with increased data gathering and reporting requirements to optimize clinical and financial outcomes dictate the need for increased data handling and analytics capabilities. Predictive analytics provide organizations with powerful tools to assess current performance metrics and model "what if" scenarios to make data-driven decisions that improve care and financial outcomes. This is of particular importance, according to Health Fidelity, as the healthcare industry transitions towards value-based payment models.
"Healthcare outcomes can be greatly improved by using predictive analytics with data that organizations are already capturing. Healthcare organizations can manage costs and patient outcomes better when they leverage predictive models in their analysis and planning," said Anand Shroff, chief technology and product officer and co-founder, Health Fidelity.
Healthcare organizations that leverage the power of predictive analytics have the potential to gain deeper insight into factors that impact clinical quality and costs, according to Health Fidelity. With this actionable information, organizations can better predict and manage clinical and financial outcomes, and drive improvements in processes and practices to elevate care quality while avoiding unnecessary costs. A recent HFMA study proposes that by using data effectively to drive efficiency and quality, the healthcare industry could create more than $300 billion in value per year.
The organizations that will be the most effective performers in the future will be the ones who fully leverage the wealth of data they possess, according to Health Fidelity. Predictive analytics are the key to unlocking the value in healthcare's big data.
To access "Unlocking the Value of Healthcare's Big Data with Predictive Analytics," visit http://healthfidelity.com/technology/issue-briefs/predictive-analytics-issue-brief.
About Health Fidelity
Health Fidelity, Inc., based in Palo Alto, Calif., is a healthcare big data analytics company. The company works with healthcare organizations to address risk and quality in value-based payment models by leveraging the most powerful and proven natural language processing (NLP) and inference platform. Health Fidelity also enables application developers to leverage vast amounts of unstructured and discrete data to provide unique clinical and financial insights.
Health Fidelity and REVEAL are trademarks of Health Fidelity, Inc. in the United States and/or other countries.
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SOURCE Health Fidelity, Inc.