Understanding why Predictive Analytics is an asset to the Healthcare Sector

Understanding why Predictive Analytics is an asset to the Healthcare Sector

The COVID-19 setting has depicted a clear idea of the potential of the healthcare industry. Holding up as the backbone of a country, the health and wellness sector has had provided in abundance. However, there have been scenarios that have made countries reform their health sector with the sole aim of improving performance and quality of caregiving. In this, Technological innovations are the attributes that keep transforming healthcare improving access to medicines, vaccines and medical devices 

One technological solution that is proving to a boon to medical science is Predictive Analysis. Yes, when you think about Predictive Analytics you think of businesses trying to presume the temperament of the market and upsell their product or service. However, Predictive Analysis is recently broadening its spectrum to heap the healthcare industry.  

How is Predictive Analysis being useful to the Healthcare Industry? 

Since people are much familiar with the words Prognosis and research in the medical literature, Prediction is no different. Your Doctors and Healthcare Professionals have always penetrated deep into your medical history to find our underlying causes of your illness. So, Predictive Analysis is one solution that does the same for your medical professional through processing your existing medical data (history) available and fed into EHR and EMR systems. It takes the evidence-based approach and assesses your data by value and volume.  

Potential Application of Predictive Analysis throughout the Healthcare Sector   

Predictive Analysis is showing impressive outcomes across the spectrum. The adoption of PD is picking up pace around the world proving the industry is ready to invest in quality careThe global healthcare PA market size grew from USD 1.806 Billion in the year 2017 and expected to reach USD 8.464 Billion from 2018 to 2025, with a CAGR of 21.2 per cent. So, how does Predictive Analytics help the Healthcare Industry? 

  • Accurate Diagnosis- PA helps doctors and medical practitioners improve the diagnosis of an individual and also works for the early detection of diseases. It converts patient’s data into algorithms and multiplies the success rate of treatment. 
  • Health Research of a Population- Not just individuals, but Predictive Analytics helps researchers to prevent the spread of infectious diseases. Not just individuals but it a boon for the population of a city or country.   
  • Increase insights for better disease management- Predictive Analysis also helps in disease management, not just for inpatient care but also considers outpatient management by examining patient vitals and indicating the need for changed medication or treatments.  
  • Improving Emergency Care- Receiving real-time data on which wards/units may need more support in emergency care, allowing the medical professionals to make quick decisions.  
  • Effective use of Healthcare Resources- Predictive analysis inherits the potential to boost healthcare resource utilization. It results in fewer waits for individuals and improved outcomes 

These are some of the applications that ensure the healthcare industry is benefitting from Predictive Analytics. So, if you plan to take up advancing in caregiving, yet choose to incline towards technology, a predictive analytics course will an appropriate choice. Big Innovation Centre India believes to not just offer its services, but also help individuals design a career out of passion. So, enrol on our Membership Programme and gain the most out of our Initiative. Also, join our Knowledge Exchange Platform ‘Pavilion. 

Don’t forget to be a part of the Digital Health World Congress 2021 presented by our CEO, Big Innovation Centre, Prof Birgitte Andersen