Definitive Healthcare launches predictive analytics solution that empowers healthcare organizations to prepare and plan for future market conditions
FRAMINGHAM, Mass., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Definitive Healthcare (NASDAQ:DH), a leader in healthcare commercial intelligence, today announced the launch of Market Forecast, a powerful predictive analytics solution designed to help healthcare organizations uncover high-growth markets and service line opportunities to strengthen investments and partnerships. Delivering year-over-year growth rate and market demand projections up to 10 years out, Market Forecast enables business development teams, service line leaders, and strategy executives to see ahead to drive improved patient acquisition and retention, market expansion, and better resource allocation.
"As an academic medical center, we need to be able to pinpoint services that have the greatest opportunity for future growth—even when their current volumes don't reflect that opportunity," said Leighton Dupree, senior strategy consultant for UK HealthCare. "We're excited about the potential of Market Forecast and how it can give us the ability to be more granular and forward-looking around sub-service line planning. This will really help communicate strategic direction clearly to our many curious, clinical stakeholders."
Market Forecast leverages historical claims data, projected U.S. Census population data, and propriety data science to provide in-depth analysis of patient demand, diagnoses, and procedures across various perspectives—including geography, service categories, patient demographics, and more. Real-time visualizations and the ability to create different scenarios for strategic planning provide a dynamic way for organizations to understand their market from any vantage point. Users get a clear, visualized view of future market conditions.
"Market Forecast is a game changer for healthcare leaders looking to understand upcoming market demand trends and patient population dynamics, and predict a patient population's utilization of healthcare services," said Bill Moschella, chief product and technology officer of Definitive Healthcare. "Combining self-service analytics and visualizations, forecasted census metrics, and our proprietary AI modelling, this solution gives decision-makers the foresight they need to move toward the right opportunities at the right time and mitigate risk."
Market Forecast helps teams drive more effective:
Market planning and assessment: Users gain a deeper understanding of patient population trends, service lines, and geographic shifts to forecast opportunities and drive growth strategies.
Resource allocation: Organizations can use Market Forecast to identify and prioritize the service lines or procedures with the highest demand to allocate network and provider resources more efficiently.
Consumer and provider demand: Market Forecast delivers clinical volume and projected growth rates for service lines and procedures to help users plan for current and future patient needs.
Scenario planning: Users can conduct iterative analyses of different market scenarios up to 10 years out with adjustable inputs related to demographics, geography, diagnoses, and procedures.
By combining comprehensive data with predictive modeling, Market Forecast offers critical insights that help healthcare providers proactively navigate an increasingly complex landscape. It gives teams the agility to adapt strategies based on shifting market conditions, supporting healthcare organizations as they prepare for the future of care delivery.
For more information about Market Forecast, visit: definitivehc.com/market-forecast
About Definitive Healthcare
At Definitive Healthcare, our mission is to transform data, analytics, and expertise into healthcare commercial intelligence. We help clients uncover the right markets, opportunities, and people, so they can shape tomorrow's healthcare industry. Our SaaS products and solutions create new paths to commercial success in the healthcare market, so companies can identify where to go next. Learn more at definitivehc.com.
Media Contact:
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Investor Relations Contact:
Brian Denyeau
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