Tips to Reduce Healthcare Costs With Advanced Analytics | Quantzig
LONDON--(BUSINESS WIRE)--Jul 30, 2018--Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the ways to achieve healthcare costs reduction with advanced analytics.
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Role of Advanced Analytics in Reducing Health Care Costs (Graphic: Business Wire)
Healthcare professionals are concerned about many things, such as - if there are enough measures available that must be taken in case of flu? Or are the patients operated yesterday likely to get infected? How can hiring staffs and providing facilities be done in a profitable manner? These questions can be answered precisely using advanced analytics, which, in turn, can help reduce health care costs.
As the patient’s number keeps growing along with the related costs, there is a dire need for accepting advanced analytics in healthcare. Advanced analytics has become a tool for reducing health care costs for many healthcare organizations. It can help in decreasing health care costs through various segments that extend from stock management to patient care to staff deployment.
Ways to achieve healthcare costs reduction with advanced analyticsPredicting the demands of operating rooms: Operating rooms in healthcare organizations are very expensive to maintain. So, every hospital tries to enhance the operating room without negotiating on patients’ health. This goal can be fulfilled by identifying the role of advanced analytics in better understanding the connection between the operating rooms that can lead to the negligence of effective scheduling. Thus, advanced analytics can help in restructuring the operating room schedule and decrease health care costs. Reducing rate of readmissions: Needless readmissions are very regular in the U.S. and it leads to a misperception of discharged patients who fail to understand how to take care of their health or take precautions after they get back to their home. Owing to this, an unnecessary burden of cost is also created. This is where advanced analytics comes into the picture. to know more about the ways to achieve healthcare costs reduction with advanced analytics. Adding intelligence to pharmaceuticals: This is one of the most influential features of advanced analytics since it can help inspect every corner in detail and reveals available opportunities and upcoming challenges. The historical data can help in producing predictive models that can later help the pharma companies to respond to the anticipated and unexpected changes. Advanced analytics can also be used to reveal the opportunities for internal savings produced by inventory standardization and, thus, help in reducing health care costs. Visit , to view a comprehensive list of the ways to achieve healthcare costs reduction with advanced analytics.
Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
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PUB: 07/30/2018 09:04 AM/DISC: 07/30/2018 09:04 AM