What can a provider do with predictive model information to decrease medical costs?

A provider can utilize predictive model information to create disease management education programs, which is critical in decreasing medical costs. These programs are designed to educate patients about managing their conditions effectively, promoting better self-management practices that can lead to improved health outcomes. By proactively addressing patients' knowledge gaps and providing them with the tools and resources needed to manage their chronic conditions, providers can reduce the frequency and severity of medical interventions, hospitalizations, and overall healthcare expenditures.

Additionally, education programs can lead to increased patient engagement and adherence to treatment plans. When patients are informed and involved in their care, they are more likely to make healthier choices, which can ultimately lower costs associated with complications or exacerbations of their conditions.

In contrast, while involving clinical staff in care coordination is beneficial, and referrals to specialists can sometimes be necessary, these actions do not directly utilize predictive modeling data in a proactive educational capacity. Similarly, determining return on investment for referrals is a reactive approach that may not directly target the preventative strategies necessary for cost reduction.