At first glance this term may intimidating but taking it one word at a time pretty much explains it all. It is the all-encompassing processes of revenue collection by a healthcare organization, which includes processing of claims, payment collection and revenue generation. This process lasts the life of a patient account from creation to collection […]
Read more "Healthcare Revenue Cycle: The Circulatory System of a Hospital"If you refer to my previous blog post on Markov chains, you will have a general understanding on what they are. You have also been introduced to the technique of first step analysis which includes finding probability of a chain ending in a state having started in another state: And the mean time of duration, […]
Read more "Markov, Markoff: First-Step Analysis"A Markov process is a stochastic process whose probability of future behavior does not depend on past behavior. It only depends on its current state. Before we go further, let me give you an example of a commonly studied Markov process which is gambling. If you enter a casino with $10 and decide to play […]
Read more "Markov, Markoff: Intro to Markov Chains"In statistical inference a common technique is to take samples from a population and measure the statistics of the sample. Different samples will have different statistics and so the statistic will have a probability distribution. The statistics of each sample is called a sample statistic and is a point estimate of a population statistic. The […]
Read more "Statistical Inference: estimation of statistics from a sampling distribution"SQL stands for Structured Query Language. What does that mean? Better yet, how do you pronounce SQL? Well, originally it was named Structured English Query Language allowing for the acronym SEQUEL. It was later changed to SQL for copyright purposes. What do you use SQL for? It is a language, so as with any language […]
Read more "What is SQL…generally…"The devil is in the details and medical bills are exhaustive. A study by the American Medical Association estimated that in 2013, 7.1 percent of claims had a mistake. A study by NerdWallet in 2014 found errors in 49 percent of Medicare claims. A closer look at medical billing shows the complexity of the billing […]
Read more "How do U.S. healthcare providers bill you?"With the recent University of Washington study revealing that Seattle’s gradual increase in minimum wage has actually resulted in fewer jobs and lower total wages, the minimum wage debate has resurfaced. Should the minimum wage be increased? By how much? How fast? Should the wages be subsidized? Do the people earning minimum wage actually need […]
Read more "How do U.S. minimum wage laws compare?"Hospitals need funds in order to maintain operations and provide healthcare. In 2015, $3.2 trillion was spent on healthcare. This was divided between Medicare (20%), Medicaid (17%), private insurance (33%) and out of pocket (11%). Medicare, the single-payer, national social insurance program that provides provides health insurance for Americans aged 65 and older who have […]
Read more "What is the role of philanthropy in healthcare?"Developing a Model Using Non-Linear Regression Now that we have found a power function through the manual conversion of a linear regression, let’s try to create a non-linear regression that fits the data points most closely. Similar to before we will be solving for a power function. We will start with the formula M = […]
Read more "What is Allometry? continued…"Developing a Model Using Linear Regression The natural world is full of patterns. They are everywhere, from the molecular structure of a drop of water to the lung capacity of a chain-smoking monkey. By using proportionality we are able to develop models that examine and express relationships between things. Biology often creates models to imitate […]
Read more "What is Allometry?"