Question

Describe how to forecast the demand for a new service in a hospital.

Answer 1

Answer:

Healthcare forecasting is about predicting future health services, healthcare needs and rates of utilization of services based on a foreknowledge acquired through a systematic process. In this work, it is focused on the medical service demand forecasting.

Answer 2

Demand for new services in a hospital can be identified by demand forecasting.

• Based on old data analysis,  predicting future demand for a product or service is known as Demand forecasting.
• Demand forecasting helps all business firms including the healthcare field.
• With the help of demand forecasting, one can identify what services need to be done in future.
• Maybe it's the addition of hospital beds, staff appointments, new laboratory etc.
• In forecasting, the new product will be evaluated as the substitute for the existing product.
• Thus it will find out substitute product's demand and introduce in the market.