Machine Learning Framework: Competitive Intelligence and Key Drivers Identification of Market Share Trends Among Healthcare Facilities
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The necessity of data driven decisions in healthcare strategy formulation is rapidly increasing. A reliable framework which helps identify factors impacting a Healthcare Provider Facility or a Hospital (from here on termed as Facility) Market Share is of key importance. This pilot study aims at developing a data driven Machine Learning - Regression framework which aids strategists in formulating key decisions to improve the Facilitys Market Share which in turn impacts in improving the quality of healthcare services. The US (United States) healthcare business is chosen for the study; and the data spanning across 60 key Facilities in Washington State and about 3 years of historical data is considered. In the current analysis Market Share is termed as the ratio of facility encounters to the total encounters among the group of potential competitor facilities. The current study proposes a novel two-pronged approach of competitor identification and regression approach to evaluate and predict market share, respectively. Leveraged model agnostic technique, SHAP, to quantify the relative importance of features impacting the market share. The proposed method to identify pool of competitors in current analysis, develops Directed Acyclic Graphs (DAGs), feature level word vectors and evaluates the key connected components at facility level. This technique is robust since its data driven which minimizes the bias from empirical techniques. Post identifying the set of competitors among facilities, developed Regression model to predict the Market share. For relative quantification of features at a facility level, incorporated SHAP a model agnostic explainer. This helped to identify and rank the attributes at each facility which impacts the market share.
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