Predictive analytics can be extremely beneficial for your healthcare organization, whether you’re a provider, payer, or health tech company. Insights into financial and clinical risks act as a sort of crystal ball, allowing you to see into the future so you can take action as soon as possible. When you know what risks to expect, you can plan for them and work to reduce them.
Prism by Lumiata is a do-it-yourself predictive analytics solution. With minimal data, you can easily predict costs and diseases within the next 12 months. With these insights, you can intervene sooner and provide higher quality care to achieve more favorable patient outcomes and reduce costs.
Here’s a closer look into Prism and how it can benefit your organization.
Prism: a revolutionary approach to deep learning
Prism takes a self-service approach to deep learning, enabling you to achieve maximum results using minimal data. Our web-based solution makes it easy to generate predictions on your own without coding. With Prism, you can predict financial and clinical risks, including:
- When diseases will onset or progress within the next 12 months
- High-cost members and claims within the next 12 months
- Future encounters with 60-80% accuracy
Powering this new approach is a deep learning model built on more than 130 million claims and electronic health records (EHRs). The model predicts costs and more than 130 diseases over precise timelines. These actionable insights give you the opportunity to adjust your organizational operations to achieve better outcomes for your organization and your clients, patients, or members.
Predict with accuracy
To achieve high-quality results, you need high-quality predictions. With Prism, you can feel confident in the accuracy of the insights you generate. Even with just one model, Prism outperforms the traditional machine learning (ML) approach, which has multiple models. Prism’s cost model is 40% better at identifying high-risk patients than traditional risk score models. Lumiata can also customize the predictions to your specific patient population.
Prism provides value for a variety of use cases, including:
- Predicting the likelihood score for 140 diagnosis codes for each member in a group or cohort
- Predicting monthly, quarterly, and yearly cost
- Predicting the likelihood score for downstream risks and events associated with “The Big 5” chronic conditions: chronic obstructive pulmonary disease (COPD), asthma, diabetes, congestive heart failure (CHF), and coronary artery disease (CAD)
Prism enables you to generate highly accurate predictions and make more informed decisions.
Generate predictions with limited data
With Prism, you don’t need massive amounts of data to get started with predictive analytics. You can make predictions with as few as 50 patient records and 6 to 8 columns of data in your data set. This is possible because the models are pre-trained using large sets of internal data. The learnings can also be transferred to retrain the models along with your limited set of data. Prism is a great way to start benefiting from the power of predictive analytics even if you don’t have a ton of data.
Validate and perform data quality checks on the fly
Having high-quality data is crucial when using your data to make decisions. While high-quality data can help you make well-informed decisions, low-quality can lead to poor decisions and less than favorable outcomes. Performing data quality checks is important to ensure your data continues to be of high quality. Fortunately, with Prism, you can perform data quality checks quickly and easily, whenever they’re needed. When you know you’re working with high-quality data, you can feel confident in the quality of your predictions and data-based decisions.
Eliminate the ETL process
When you want to combine data from multiple sources or move data from one location to another, you typically do so through a process called “Extract, Transform, and Load,” or ETL. This process involves taking data from its original source or sources, cleansing it and removing duplicate data, and loading it into the new system. ETL prepares data for machine learning artificial intelligence.
With Prism, you get to skip the ETL process. We only ask for six to eight columns of claims data, resulting in a simpler data processing pipeline. This allows you to start making data-driven predictions faster.
Generate model predictions within minutes
Prism enables you to generate high-quality predictions in a fraction of the time of traditional machine learning methods. For example, generating predictions for 1,000 members take only about 20 minutes with Prism, whereas it takes around 4 to 6 hours for traditional ETL and machine learning methods to do the same. Prism can also generate predictions for the onset or progression of over 130 conditions for your entire book of business in minutes. Prism’s deep learning model only needs to be pre-trained once, saving you even more time.
Integrate predictions into your current workflow
The most convenient tools are ones that can be easily integrated into your current organizational operations. Getting up and running quickly allows you to spend less time figuring out how it all works and more time gaining value from the new tools. Prism has a single-model pipeline for multi-task predictions that is easy to manage and deploy. This makes it simple to integrate predictions into your current workflow. Prism model predictions can also be customized to specific conditions or diseases and address multiple use cases at once.
Predictive analytics powered by Prism
Predicting costs and diseases is a great way to keep an eye on your financial and clinical risks. Prism by Lumiata takes these powerful capabilities a step further by offering a predictive analytics solution that is fast, accurate, and easy to incorporate into your existing workflows. With Prism, you can use minimal data to generate high-quality financial and clinical predictions, helping you make data-informed decisions to achieve better outcomes for your organization and your patients, members, or clients.
Stop guessing what the future holds and let Prism be your crystal ball. Contact us today to learn more and get a demo.