Tag Archives: model

“The number” vs. outcomes of varying likelihood: gaining perspective

How many times have we heard a manager or executive say “Just give me the number!”? This request smacks of frustration and conveys an unrealistic expectation.  While this is slowly changing, single-point estimates are still the goal when making managerial projections at many healthcare providers today. In this post, I want to discuss an alternative approach.

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Optimization: basic concepts and potential benefits

Optimization is yet another important field in mathematics and engineering, with many useful real-life applications in planning and other areas. In essence, it is a mathematical approach to solving problems that have as a general goal finding the best outcome possible.
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