Math/Statistics
Least Squares Regression for No-Show ProjectionsThe method of least squares is a standard approach in regression analysis to approximate the solution of overdetermined systems (sets of equations in which there are more equations than unknowns) by minimizing the sum of the squares of the residuals made in the results of every single equation.
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The Problem
No-show Appointments are costly
According to this survey, the healthcare industry loses more than $150 billion a year to no-shows alone. On average, clinics, systems, and practices are experiencing a no-show rate around 18.8 percent. That’s one out of every five of your appointment slots not reimbursable.