Statistical Analysis, Forecasting, and Quality Improvement

Statistical Analysis, Forecasting, and Quality Improvement

In preparation for a meeting with upper-level management, you decide to conduct research on the role of statistical forecasting in decision analysis.

Write a paper of 3-4 pages discussing the importance of accreditation and credentialing, strategies for quality improvement, and the role of statistics and statistical forecasting in the process. Your paper should address the following:

What are the steps involved in the statistical forecasting process?
Provide at least 3 examples of statistical analysis tools used for forecasting.
What role does statistical forecasting play in the quantitative health care decision analysis process?
How can forecasting used to determine the needs within an organization for purposes of quality improvement?
Your discussion should include how you can use statistical forecasting related to patient treatment, readmissions, emergency room (ER) wait times, and so forth as a means of determining what areas to focus on for the quality initiative.

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Introduction
Statistical forecasting is the use of statistics concerning historical information, present data, and analysis of specific trends to make predictions. In healthcare, the uncertainties are the backbone to forecasting; which are considered as the best practice to ascertain the extent of risks attaching to the conjecture. With this regard, providing the right information has been proved vital in enhancing healthcare services as well as highlighting the significance of accreditation and credentialing the forecast process. 

(1,141 words)