By: Jeff Deal, Conference Chair, Predictive Analytics World for Healthcare
In anticipation of their upcoming conference presentation at Predictive Analytics World for Healthcare Las Vegas, June 16-20, 2019, we asked Casey Gentry, Senior Manager Engineering/Analytics and Jamie Netherton, Senior Analyst at Acxiom, a few questions about their deployment of predictive analytics. Catch a glimpse of their presentation, The Ethical Use of Big Data in Healthcare, and see what’s in store at the PAW Healthcare conference in Las Vegas.
Q: In your work with predictive analytics, what area of healthcare are you focused on?
A: We are focused on a couple of things: 1. Bringing together payer and provider data in an privacy compliant and ethical way in order to resolve identities. 2. Using the ‘clean’ data to better identify at-risk patients in order to provide proactive intervention and improve both quality of care and patient cost. 3. Improving engagement overall so consumers are connecting with healthcare professionals on a more frequent basis through their preferred communication medium.
Q: What outcomes do your models predict?
A: Our models predict individuals who are 1. Likely to increase total cost of care or 2. Likely to move into an unmanaged disease state.
Q: How does predictive analytics deliver value at your organization? What is one specific way in which it actively drives decisions or impacts operations?
A: Predictive Analytics (and analytics in general) is critical to Acxiom’s overall success. As a data company, one of our key value propositions is being able to use our data to help our clients grow their business. We can do so in the form of acquisition modeling, or combining our data with client data to augment their internal solutions and improve efficiency.
Q: Can you describe a successful result, such as the predictive lift of your model or the ROI of an analytics initiative?
A: Our models captured between 40-50% of our target population in the top 2 deciles, increasing ROI substantially.
Q: What surprising discovery have you unearthed in your data?
A: In this particular analytic engagement, we found that when we had very small sample sizes for which to model upon, Acxiom’s data contributed over 70% of the power to our predictive model. This may be especially helpful in efforts supporting rare diseases where the number of individuals impacted is much fewer.
Q: What areas of healthcare do you think have seen the greatest advances or ROI from the use of predictive analytics?
A: Improving patient quality of care by identifying those individuals who are at risk and providing proactive intervention to improve and manage healthcare outcomes.
Q: Sneak preview: Please tell us a take-away that you will provide during your talk at Predictive Analytics World.
A: We will be sharing how important it is to treat analytics in the healthcare space with the thoughtfulness and prudence it deserves given the sensitive nature of the subject matter. We will also show how resolving identity and incorporating 3rd party data can help combat the rising costs associated with healthcare.
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Don’t miss their presentation, The Ethical Use of Big Data in Healthcare, at PAW Healthcare on Wednesday, June 19, 2019 from 3:30 to 3:50 PM. Click here to register for attendance.
By: Jeff Deal, Conference Chair, Predictive Analytics World for Healthcare
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