5 Ways to bolster risk adjustment in healthcare using predictive analytics
The value of staying one step ahead
Where traditional analytics focuses on the past, predictive analytics sheds light on the future – a critical distinction for healthcare payers and healthcare systems looking to enhance outcomes through risk adjustment initiatives.
Predictive analytics defined
Leverages data mining, modeling, and machine learning
Analyzes current and historical facts
Places numerical value on the likelihood of actions or events yet to occur
Growing interest in predictive analytics
21.9%
cumulative average annual growth projected in predictive analytics, 2020-2027
$35.45B
projected total market value by 20271
$22.59B
projected global healthcare market for predictive analytics by 20272
1. Allied Market Research. Predictive analytics market to reach $35,45 billion by 2027. https://www.alliedmarketresearch.com/press-release/predictive-analytics-market.html
2. IMARC. Healthcare predictive analytics market. https://www.imarcgroup.com/health
Risk adjustment is tailormade for predictive analytics
Risk adjustment programs rely on proper documentation, coding and reporting of diagnoses to accurately represent population risk. By leveraging predictive analytics, healthcare payers and systems can proactively identify high risk patients and opportunities for improvement, ultimately improving care gap closures, targeted outreach, and accurate reimbursement.
5 applications to consider
Jumpstart your risk adjustment for improved outcomes with EXLCLARITY™
At EXL, our modular, end-to-end risk adjustment and quality management solutions deliver optimized performance on risk-adjusted populations, including improvements across clinical documentation, quality outcomes and accurate reimbursement.
Applying our expertise in AI, analytics and cloud, we make sense of your health-related data, enabling you to improve outcomes, optimize revenue, and amplify how quickly, efficiently and affordably you deliver quality care—enhancing your performance with nimble, scalable solutions. It’s one of the reasons why EXL Health was named #1 in risk adjustment and Best in KLAS 2022, with 100% of our customers stating that they would purchase EXLCLARITY™ again.
Let’s partner together to transform how care is delivered, managed, and paid. Contact us for a demonstration how EXLCLARITY™ can help you improve outcomes using predictive analytics in risk adjustment. Visit EXL today.