Providers Look to Predictive Modeling to Help Rebuild Finances in 2021

Fluctuating patient demand in the midst of a once-in-a-century pandemic made it hard for health systems to manage their finances in 2020. To help turn the financial tide this year, health executives are looking to invest in predictive modeling technology.

These tools can be used in several ways, from predicting clinical outcomes to identifying patient preferences to enhancing provider workflows.

One of the tools that can help hospitals keep on top of supply-demand issues is customer relationship management solutions, he said. Not only can CRM tools help predict demand, but it can also suggest the best channel for patient care — be it virtual, in-person, or home care.

Though predictive models cannot directly prescribe patient care, they can recommend actions to increase the chances of a particular outcome, Chaiken said.