Analytic Model Helps Health Care Organizations Predict Demand for Services
ANN ARBOR, Mich. and MOUNT PLEASANT, Mich., Sept. 17 /PRNewswire-USNewswire/ -- Dataspace, an Ann Arbor-based business intelligence software and consulting firm and Business Insight, a part of the Central Michigan University Research Corporation, announce the introduction of Patient Volume Forecaster (www.thepvforecaster.com), a service that helps health care leaders predict and respond to expected demand for services.
PVForecaster team, a collaboration between a university-based advanced analytics team and a premier business intelligence consulting firm, obtains data from operational systems, integrates data available from external sources, includes a planning tool to evaluate opportunities to influence patient volume, and utilizes a proprietary algorithm to translate the data into actionable information for practical use.
Dr. Joe Czyzyk, Analytics Director for the PVForecaster team, speaking Monday at the National Predictive Modeling Summit in Washington, D.C., said, "For years, industry research has shown that when hospitals have a clear idea of their expected patient volume, they can align resources accordingly, resulting in reduced stress, increased patient safety, and shortened the length of stay." Patient Volume Forecaster delivers specific and timely information about expected patient volume to improve operational scheduling and match capacity to demand. Reports on expected patient volume are provided weekly (or daily, if appropriate) to key decision makers who control the allocation of critical resources. Expected volume can be reported by physician specialty code, nursing station or clinic.
In addition to operational scheduling, the PVForecaster service analyzes the impact that strategic decisions will have on patient volume. Subscribers can model how changes in competitive activity, marketing spend, customer service ratings, and other variables impact expected demand over longer time periods.
PVForecaster is a SaaS offering. "Software-as-a-Service is our preferred way of delivering analytic capabilities to organizations," said Ben Taub, Implementation Director for the PVForcaster team. "As a hosted, web-based service, no new software or hardware are required. This eliminates most of the headaches that were trade-offs previously associated with new system capabilities."
About Business Insight
Business Insight (www.cmurc.com/bi) is part of the Central Michigan University Research Corporation. Services range from on-demand advanced analytics support to full service offerings including proof-of-concept projects and educational opportunities for teams. We use the latest tools for data and text mining, spatial analysis, advanced visualization, predictive modeling, forecasting, simulation and optimization.
Founded in Ann Arbor, Michigan in 1994, Dataspace (www.dataspace.com) helps clients in the U.S. and Europe implement business intelligence -- from basic query and reporting systems to management dashboards, data warehouses, and advanced analytics -- we turn idle data assets into strategic assets; helping clients identify trends, react earlier, and yes, even predict the future. Dataspace -- Making Data Make Sense.
|SOURCE Central Michigan University Research Corporation|
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