New application provides health systems novel insights to fuel strategic growth initiatives
Trilliant Health, a health care analytics company that provides evidence-based strategy for intelligent patient acquisition, today announced the launch of its Demand Forecast solution, a new predictive analytic that gives health systems novel insights into market-level healthcare-consumption trends. Developed over the last three years, Demand Forecast provides a 10-year view of the healthcare market based on a variety of claims, demographic and psychographic data. The application provides health system strategy teams with a deep understanding of the relationship between consumer demand in a local market and the supply of healthcare providers available to serve that demand.
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Demand Forecast, Market View (Graphic: Business Wire)
Health systems operate in a negative-sum game, and winning that game requires a sophisticated solution that can be translated to strategic planning – free of friction,” said Jason Nardella, SVP of Predictive Analytics at Trilliant Health. “Health systems must be able to trust that the solution is built around the uniqueness of their market, not modeled from a national view. An effective solution must not restrict discovery to predefined views, but should instead allow its user to construct scenarios, based on the local market realities. Most importantly, a solution should fit into the user’s process, not the other way around. Trilliant Health's new Demand Forecast solution does just that.”
Trilliant Health developed Demand Forecast with the understanding that health systems must have data analytics that power immediate insights into the uniqueness of each market in which they operate, delivering them with unmatched fidelity and specificity.
As a result, Demand Forecast allows strategists to drill into specific service lines and procedures related to their strategic planning initiatives, giving them the ability to understand which consumers are driving growth across gender, age, location, and care behavior (incidence rate). These insights allow strategy teams to better understand, target and quantify the forecasted impact on their system.
Demand Forecast is specifically engineered to allow users to interpret a range of scenarios using confidence intervals. The confidence intervals empower users to measure different outcomes and incorporate their comfort level or risk aversion to the strategic initiative at the heart of a forecast. Demand Forecast also offers "grab and go" visuals that are presentation ready. However, as different provider organizations have varying needs, the application also comes with a one-of-a-kind "build your own" capability, enabling customized forecast visualizations and data outputs in real time.
As COVID-19 continues to disrupt the healthcare economy, health systems are eager to implement first-class data analytics platforms that predict the constantly changing market dynamics in healthcare, providing them with stability and opportunities for future growth. Trilliant is already trusted by more than 50 of the top U.S. health systems. The company recently published its landmark report, “2021 Trends Shaping the Post-Pandemic Health Economy,” which includes an in-depth look into the U.S. health care system’s supply-and-demand issues.
About Trilliant Health
Trilliant Health is an analytics and data science company that provides Evidence-based Strategy for Intelligent Patient Acquisition™. By synthesizing a variety of first-party and third-party data sets, Trilliant Health provides a comprehensive view into market dynamics that enables healthcare providers to find the most efficient and effective solutions for growth in their markets. For more information, please visit trillianthealth.com.
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Contacts
Sam Moore
Trilliant Health
communications@trillianthealth.com
