The industry is in need of efficient analytic solutions to make better use of data for decision making.”
Conway, NH (PRWEB) May 08, 2012
Rapid Insight Inc. today announced the release of Rapid Insight® Healthcare Analytics. This new solution from Rapid Insight will make it easier for healthcare organizations of any size to leverage their existing data for predictive modeling and analysis.
With many applications for this technology in the healthcare industry, the initial focus of the solution will be on enabling hospitals to create ‘readmit risk’ scores on individual patients upon discharge. Beginning in fiscal 2013, hospital readmission rates will become a central factor in inpatient reimbursement from Medicare. For participating hospitals, those showing higher than expected readmission rates within certain diagnosis measures will be penalized with lower reimbursement rates.
Ensuring smooth transitional care, scheduling follow-ups, and proper communication of post-discharge instructions to patients are all important factors in helping to reduce readmissions. By classifying patients into categories of high, medium, and low risk, hospitals will be able to put programs in place that focus efficient use of time, energy and resources on those patients with the highest need.
The Rapid Insight solution will enable hospitals to take an analytic approach to healthcare, utilizing concepts and techniques similar to those being used to solve problems in other industries. By providing a software framework for automated predictive modeling, data integration, data cleansing and model scoring, healthcare organizations can build and begin to utilize predictive models in a fraction of the time that it takes with other solutions that are currently in the marketplace.
“Rapid Insight is committed to taking a leadership role in speeding up the adoption of predictive analytics in the healthcare industry to reduce costs and improve patient care”, stated Michael Laracy, Founder and CEO of Rapid Insight. “The industry is in need of efficient analytic solutions to make better use of data for decision making.”
Rapid Insight will be hosting a free webinar on Tuesday, May 29th at 2:00pm EDT to showcase the technology. To sign up, click on the link below:
About Rapid Insight Inc.
Rapid Insight Inc. is a leading provider of business intelligence and automated predictive analytics software. With a focus on ease of use and efficiency, Rapid Insight products enable users to turn their raw data into actionable information. The company's analytic software simplifies the extraction and analysis of data, enabling clients ranging from small businesses to Fortune 500 companies to fully utilize their information for data-driven decision making. Founded in 2002 in Conway, New Hampshire, Rapid Insight is a privately held company with clients and partners across the nation. For more information, visit http://www.rapidinsightinc.com