1. A high level Overview on the Use Case :
One of the most effective use-case of data science in Healthcare is to predict medical costs of the patient based upon extensive factors contributing to higher expenditures. Rising medical costs have been a major public health concern hence getting an understanding upon the contributing factors is very crucial. Furthermore, one of the significant aspects of medical cost prediction is to identify the patients at risk to contribute to extensive costs to hospitals leading to effective resource planning. The relationship between patient’s primary medical costs and their characteristics (like age, gender, morbidity, BMI etc.) plays a vital role while investigating whether the healthcare resources are equitably allocated and to make sure that patients in equal needs are supplied with equal amount of medical care. Over and above that, it is very necessary to know how patients’ expected costs varies with respect to the commonly affecting factors.
