HCM460 Colorado Technical Statistical Forecasting Analysis

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.