More than half of healthcare executives polled in The Predictive Analytics in Healthcare Trend Forecast by the Society of Actuaries expect the use of predictive analytics to shave a significant amount off their organization’s budget. Fifty-seven percent of study respondents believe predictive analytics will save 15 percent over the next five years, with 26 percent expecting savings of more than 25 percent over the same period.
Despite hurdles such as cost, 93 percent of those polled believe analytics are important for the future of their business. The study, which polled 223 provider and payer executives, found that while just 47 percent currently deploy predictive analytics, 88 percent plan to either launch or expand current initiatives in the next five years.
“This data underscores the value executives place on predictive analytics across both payer and provider organizations,” says Ian Duncan, a fellow at the University of California at Santa Barbara and one of the study’s authors. “As value-based care gains prominence, smart organizations are leveraging predictive analytics to forecast health and clinical outcomes to help achieve the Triple Aim.”
In the below video, LUMEDX Vice President of Strategic Products Praveen Lobo notes that even near-real time data analysis represents a major step forward on the path to healthcare’s Triple Aim. Watch the video to learn how analytics enables improved decision-making for physicians as well as CV leadership.
Praveen Lobo, Vice President of Strategic Projects, talks about how analytics can help cut costs while improving your hospital's outcomes and patient satisfaction.
The leader in cardiovascular data intelligence and a pioneer in cloud-powered healthcare solutions, LUMEDX offers an all-inclusive suite of software and services that enables meaningful analytics, high-performance workflows, optimal integration of clinical and HIS data, and better continuity of care.
For more information on LUMEDX’s HealthView Analytics and the Cardiovascular Performance Program, visit lumedx.com/cardiovascular-performance-home