overview on "the state of predictive analytics in u.s. healthcare"
TRANSCRIPT
A QUICK OVERVIEW ON“THE STATE OF PREDICTIVE
ANALYTICS IN U.S. HEALTHCARE”
Original Report by Modern Healthcare and Society of Actuaries Summarized by Yubin Park, PhD
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ABOUT THIS OVERVIEW
• Based on the original report prepared by Modern Healthcareand Society of Actuaries• You can download the original report from• http://www.modernhealthcare.com/assets/pdf/CH105920628.PDF
• Please read the original report for more detailed and comprehensive information
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EXECUTIVE SUMMARY
• Predictive analytics can help healthcare organizations manage various types of risk
• Payers and providers are at different stages of adopting predictive analytics
• Payers and providers face different sets of challenges for implementing predictive analytics
• Both payers and providers agree that the role of predictive analytics will grow further
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EXPANSION OF “RISK”
• The meaning of risk is expanding in the new era of accountable care• Predicting risk is more
important than ever
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Risk
Malpractice
Financialaccountability
StaffingneedsClinicaloutcome
Populationmanagement
SURVEY POPULATION
• Modern Healthcare Custom Media conducted a survey to find out the current state of predictive analytics in the U.S. healthcare• 388 healthcare executives
responded to the survey
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PREDICT CLINICAL & FINANCIAL OUTCOMES
Clinical and financial outcomes are the primary interests
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OBSTACLES FOR PREDICTIVE ANALYTICS
Shows an absence of strategy or urgency around using predictive analytics
Technical challenges are the main obstacles- Incomplete data- Lack of sufficient
technology
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OBSTACLES: PAYERS vs. PROVIDERS
PAYERS• Incomplete Data (31%)• No barriers (15%)
PROVIDERS• Lack of Sufficient Technology
(23%)
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Different obstacles for payers and providers
ADOPTION OF PREDICTIVE ANALYTICS
• 80% of payers are currently using predictive analytics• More than half of providers are not using predictive analytics
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WHAT’S BEING PREDICTED TODAY?
PAYERS• Costs (77%)• Clinical outcomes (57%)
PROVIDERS• Readmissions (62%) • by hospitals and health
systems• Staffing/workforce needs
(50%)• Adverse events (39%)
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Payers and providers use predictive analytics for different purposes
ACCORDION’S PERSPECTIVES
• The boundary between payer and provider is disappearing in value-based care• Payers are already interested in predicting clinical outcomes• Risk-taking providers would want to know about financial
outcomes of their patients• Jointly predicting financial and clinical risks will be the key for
successful and sustainable value-based care implementation
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CONTACT
• Yubin Park, PhD• Chief Technology Officer at Accordion Health, Inc.• [first name] [at] accordionhealth [dot] com
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