Predictive Healthcare Forecasting Key to Provider Survival in 2021

Nearly three-quarters of healthcare executives (74 percent) recently surveyed by the Health Research Institute said their organizations would invest in more predictive modeling in 2020, they explain in the new report Top Health Industry Issues of 2021.

“No longer can healthcare organizations review the past 30 days of claims or historical behavioral trends to determine next steps. They need real-time insights to create the healthcare industry’s own forecasting system to alert healthcare leaders to the shifting fronts that may have a major impact on their business,” the report states.

No provider could have predicted the emergence of a novel virus and its impact on patient volumes and revenues in 2020. But providers quickly realized that their 2020 budgets and forecasts had to be thrown out the window once COVID-19 hit in the US early in the year.