At Becker’s Hospital Review 4th Annual Health IT + Revenue Cycle Conference in Chicago, Sept. 19-22, Joshua Lee, MD, chief health information officer and vice president at Chicago-based Loyola University Health System, and Patrick Funck, CIO at naviHealth, explained how to best use predictive analytics and health information technology.
Both Dr. Lee and Mr. Funck were asked about the misconceptions they see among their fellow physicians and customers regarding health IT.
“The misconception is you don’t have to always fine tune the model,” Dr. Lee said. “When looking at a hospital budget, it is common to predict the budget and admissions, etc., based on years in the past. However, if you don’t fine tune the model to consider if anything has changed in the healthcare reimbursement market, the budget may not be as accurate.”
Mr. Funck spoke on misconceptions among customers and organizations at large. “Building off the point of adjusting your models, I think of it as adjusting your algorithmic model and then the process around it. The data model depends on what the analytics are. So, in a case with a tool all based on function, this model doesn’t change drastically over time. The tuning of this model, therefore, is not as important as altering the process. However, a tool for socioeconomics has to be refreshed and tuned more frequently based on data.”
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