The Hitchhiker’s Guide To Survival Analysis
Survival analysis is the best thing in the world since sliced bread! However, in most machine learning circles, it’s pretty much synonymous with an “# it’scomplicated” relationship status.
Survival Analysis is an Extremely Valuable Branch of Statistics.
We want our guide to better serve you as a straightforward go-to/how-to, eliminating any confusion. The guide provides a valuable resource on how survival analysis, which can be applied to — well, almost anything.
However, survival analysis is wrought with misunderstanding and misuse.
What else should I know about survival analysis?
Also referred to as “time-to-event” analysis, simply put, it’s what we find when we analyze the time it takes for something like buying a new home (an event) to happen after getting a promotion -which we call “an exposure.”
Basically, it’s modeling or a set of statistical stratagems which measure the time as mentioned above to an event. Literally how long it takes for something of interest to happen. Depending on what you are studying, observing, researching, or just finding interesting- you want to know, and we can now actionably determine how long it takes to happen.
To get started, first and foremost, you need to set and formulate your research question aptly to perform a survival analysis approach.
Often, researchers will simply use ‘when’ and/or ‘whether’ terminology. But, first, the information is given — as a prediction of when and/or whether something will happen.
Then the conclusion is in a yes, or no determination. Finally, the conclusion is an analysis about how long it takes before what we want to see (the subject of interest being examined) will happen, and whether what we’re looking for will happen or not.
When you’re analyzing how long it takes for an event to happen and whether it will happen at all, it is imperative that what you want to eventually see and find is the same (equal) for all the subjects you examine.
In other words, you don’t want a sample with elements that have no chance of experiencing the event. It just won’t work.
Exposure is the point when we’re off to the races and start the proverbial research clock in order to analyze any time-to-event.
The event itself, in this case buying a new home, means simply the time needed to process and develop from the exposure which is getting that promotion– the moment when we stop the “clock.”
The time elapsed between these two points is the focus of interest which we call “the survival time.”
Survival analysis is a game-changer for a diverse variety of disciplines and areas of research.
Most experts, however, mistakenly consider survival analysis a tool solely applied to study death and disease, an accurate method to measure relapse of a medical condition, the potential hospitalization of a patient, and the mortality rate in medicine and biomedical disciplines.
Survival analysis application has thankfully spread to serve a variety of fields and disciplines, including engineering, social and behavioral sciences, even professional sports.
In engineering, this process is known as “failure-time analysis” and is mostly applied to test the durability and quality of products.
Incorporating survival analysis in engineering is valuable. For example, we see a manufacturer wants to test how long it takes for light bulbs to burn out, how often the company’s computers crash, even predict when a mechanical part like an engine head gasket will crack.
In social sciences, survival analysis is known as “time-to-event” analysis. This is because there have been scientific studies to answer queries such as how long it takes for one to get married, get a first tattoo, buy a first home, or to graduate.
Medicine and biomedical research
In addition to medicine and biomedical research, JADBio can definitively perform survival analysis on several out-of-the-box and even what one may consider ‘weird’ cases, including:
Health – Obviously, when analyzing health disciplines, we can actionably determine values such as the time to: death, device failure such as a heart pump, or simply the readmission rate of a specific subset of patients.
Market – We use survival analysis more and more in marketplace areas of research such as manufacturing or sales when we want to determine the time to: a component failure in machines, whether a certain device becomes obsolete, and how long it will take to obtain a certain patent for example.
Finance – A valuable tool in the evermore elusive waters of finance, survival analysis can be applied to calculate the time to predict when a hospital may turn a profit or report loss, calculate costs, and how often staff present burnout or should be promoted.
Social Sciences – Especially helpful in social sciences, where experts now can analyze the time to: divorce, new couples having their first or second child, and how long it will take new families to buy their first home.
Government and Social Services – Helps determine the time to: child welfare and to match children with appropriate foster parents. Used to optimize the length of stay of children in the program, to estimate participation time in various social programs, and to estimate the time it takes for various policies to take effect.
Law Enforcement – Predicts the time to: estimate the likelihood of recidivism in criminal offenders.
Marketing Operations – Performed to assess the time to: the length of participation in loyalty programs.
Sports – Sports is a field where survival analysis can really be your golden goose. Sports — that’s right. In professional sports, survival analysis will change the game when it comes to delivering results like time to: mechanical failure of race car engines, or tires in F1, and the time it takes athletes to be substituted in team sports like football.
A coach can know the best time to switch out a soccer player. Team doctors and government health authorities can accurately evaluate and certainly limit the rate of Chronic Traumatic Encephalopathy (CTE) –a degenerative brain disease observed in professional athletes, military veterans, and anyone with a history of repetitive brain trauma.
In essence, there is no differentiation to survival analysis being used as a tool whether we consider health disciplines, the global market, social and behavioral issues, or professional sports.
When researching for survival analysis — survival time is the main driving interest.
We perform survival analysis on subjects that present a delayed onset of events where our goal is to observe that specific timeframe, how long it takes for the event to happen.
It is irrelevant whether there is a positive or negative correlation attributed to the event. The event may very well be death (negative), yet it can also be a new promotion (positive).
Although initially developed in the biomedical sciences to analyze time to death either of patients or of laboratory animals, survival analysis is now widely used in engineering, economics, finance, healthcare, marketing, and public policy. Survival analysis can be used to predict when a patient will expire; when cancer will metastasize, or on anything you are trying to predict time-wise.
Our Secret Special Sauce
At the core of this work is JADBio. JADBio systematically compares the performance and stability of a selection of machine learning algorithms and feature selection methods that are suitable for high-dimensional, heterogeneous, censored, clinical and other forms of data. The data set is used in the context of providing specific, accurate, and actionable predictions.
Leveraging the advances in modern data collection techniques will produce ever-larger clinical and other large data sets. It’s imperative to identify methods that can be used to analyze high-dimensional, heterogeneous, survival data.
JADBio has a world-class team and constructs a range of machine learning algorithms capable of analyzing vast types of data providing clients with the power to make decisions and steer their respective objectives in the direction of success.
Definitions of standard terms in survival analysis:
- Event: Death, disease occurrence, disease recurrence, recovery, or other experience of interest.
- Time: The time from the beginning of an observation period (such as surgery or beginning treatment) to (i) an event, or (ii) end of the study, or (iii) loss of contact or withdrawal from the study.
Image Credit: Provided by the author from The Hitchhikers Guide to Survival Analysis; thank you!
9 Healthcare Marketing Strategies to Attract and Engage Patients
If you’re a healthcare provider looking for new and effective ways to find and engage potential patients, you’ve come to the right place. In this blog post, we’ll look at nine healthcare marketing strategies that can help you attract more patients and increase your patient engagement. From leveraging social media to investing in search engine optimization, these healthcare marketing strategies will give you the tools to reach out to and build relationships with potential patients. So, let’s get started.
1) Define your audience
Identifying the target audience for your healthcare marketing efforts is an essential first step in any marketing strategy. You need to determine who your ideal patient is so you can craft effective messaging and use the right tactics to reach them.
Start by considering the demographics of your current patients and those most likely to be interested in your services. Take into account age, gender, income level, location, and other factors that might be relevant.
Then, think about the pain points or needs your services can address. It will help you identify potential customers who could benefit from your offer. For example, if you specialize in sports medicine, you’ll want to target athletes and active individuals who are likely looking for solutions to common injuries or health issues.
2) Foster relationships with referring physicians
Building relationships with referring physicians is great for your healthcare marketing strategy. Physicians are well-respected and highly trusted in the healthcare industry, so building meaningful relationships with them is important. Doing so will help you gain access to their patient referral networks and increase your visibility in the community.
Start by introducing yourself and your practice to referring physicians. Ask for their contact information and make sure to keep it up-to-date. Connect with them on social media, if appropriate. Offer to attend conferences and meetings they are attending, or invite them to yours. Offer them patient education materials, discounts on services, or other incentives that show your appreciation.
You can also offer referring physicians helpful resources and advice, such as regular updates on medical advances or educational materials related to their specialties. Make sure that your content is always accurate and up-to-date. Finally, be sure to follow up with referring physicians regularly. It will show them you value their relationship and help maintain positive working relationships.
3) Research your competition
Understanding your competitors is essential when it comes to healthcare marketing. Knowing what strategies they use and how successful they are can help you improve your tactics and stay ahead of the game.
Start by researching the demographics of your target market – who are they, what do they need, and how can you reach them? Analyze their services and offerings and evaluate their marketing tactics. Ask yourself how you can differentiate your services from theirs, what makes your product better, and how you can beat them in terms of quality, cost, or convenience.
Look for trends in their marketing campaigns and see what works for them. Analyze their approach and create a plan that capitalizes on their weaknesses and maximizes your strengths. Discover what makes them unique and use this knowledge to inform your marketing strategy.
4) Incorporate SEO into your website
Search engine optimization (SEO) is essential for healthcare marketing and can help increase organic traffic to your website. It involves optimizing keywords, phrases, titles, headings, images, and other elements on web pages to appear higher in search engine results.
Optimize your website for search engines to ensure that it ranks high when users search for topics related to your practice. The higher your site appears in the search results, the more traffic it will get –more opportunities to convert leads into appointments.
SEO helps you get found by potential patients and keep existing patients coming back. As an essential part of your healthcare marketing plan, it’s important to understand how to incorporate SEO into your website.
First, you’ll need to create content that is both informative and optimized for search engines. Research relevant keywords related to your practice and target audience, then use those keywords in your website content. Ensure you don’t overuse the keywords, which can negatively affect your rankings.
It’s also important to ensure your site is easy to navigate and contains fresh, unique content. It will improve user experience and encourage visitors to stay longer on your site. Additionally, ensure that your website works on all devices and browsers. It will maximize the number of people who can access your site, increasing your ranking in search engine results.
5) Use social media
Social media is another powerful tool when it comes to healthcare marketing. Not only does it allow you to interact with potential patients directly, but it also builds relationships with current and potential referral sources. Utilizing social media channels allows you to share valuable information about your practice and create content that engages with patients and drives new leads.
Regarding healthcare marketing, social media is important to your overall plan. With a well-executed social media strategy, you can reach a wide audience quickly and easily. It’s essential to have an active presence on major platforms like Facebook, Twitter, LinkedIn, Instagram, and YouTube, as they provide excellent opportunities for reaching a wide range of audiences.
The key to success is to create content that resonates with your target audience and can convert leads into actual customers. Post relevant information about your services and helpful health tips, and answer questions from potential patients.
Ensure to include visuals whenever possible, as this will help grab your audience’s attention. Also, use hashtags to make your posts more visible and encourage user engagement. Responding quickly to comments and questions is important to foster relationships with potential patients. Finally, measure and track the results of your efforts through analytics software like Google Analytics or Facebook Insights.
6) Develop a strong brand
When it comes to healthcare marketing, creating a strong and unique brand is essential. It is your opportunity to stand out from the competition. Crafting an eye-catching logo and website and utilizing high-quality visuals can help you make a powerful impression on potential patients.
Another great way to build your brand is by creating custom content. Leveraging educational materials like blog posts and videos can help showcase your expertise. Sharing success stories and patient testimonials can also be effective in building trust with potential patients. Look for opportunities to get your name out in the local community. Attending events and partnering with other organizations are great ways to boost your visibility.
Participating in local events is a great way to interact with potential patients and show them why your services are superior. It also allows you to network with local healthcare professionals and gain referrals.
You can also host educational webinars or live chats to educate your patients and generate leads (healthcaremailing dotcom). Tools like Zoom or YouTube Live will allow you to stream the content and engage with people who aren’t physically present in the room. It can also help you reach a wider audience since many patients won’t be able to attend in person and may not have access to your event unless they know it beforehand.
You can ask questions during the webinar or chat and collect data from those who participate through their answers before ending the session with an action plan for following up with those who respond positively. It allows for better follow-up than just sending automated emails out afterward – you’ll get actual feedback from real people.
7) Invest in content marketing
Healthcare Content marketing is a powerful tool for healthcare providers to attract and engage new patients. It involves creating and distributing content related to your business’s services or products. It aims to educate and inform potential patients about your practice, services, and how you can help them.
Content marketing can take the form of articles, blog posts, infographics, videos, podcasts, social media posts, and other forms of media. This type of content provides value to potential patients and can help establish you as an authority figure in the industry. By creating high-quality content that is informative and engaging, you can help potential patients learn more about your practice and its offerings. You can also use content marketing to build trust with current and prospective patients.
Content marketing can be done in-house or outsourced to a content creation agency. If you choose to outsource, select an agency with expertise in the healthcare industry that can create accurate, relevant, and up-to-date content.
No matter your approach, content marketing can be an effective strategy for reaching new patients and building relationships with them. By investing in content marketing, you’ll be able to keep your website updated, attract more organic traffic from search engines, and give your current and prospective patients the information they need to make an informed decision about their healthcare.
8) Advertise online
Online advertising can be a great way to reach potential patients and those in your care. You can use platforms like Google Ads and Facebook Ads to target potential patients based on location, age, gender, interests, and more.
Online advertising can help you promote awareness of your practice and services, increase brand visibility, and even drive conversions. You can also ensure your messages reach the right people with the right targeting. Just do your research and understand the different types of ad formats available.
For example, some formats are better suited to creating brand awareness, while others may be better for lead generation. Additionally, have clear, concise messaging with strong call-to-action (CTA). It will help ensure that your online ads are effective in driving conversions.
Paid advertising on social media channels or platforms like Google Ads is another great way to reach potential patients. Setting up ads allows you to target specific population segments, which increases the likelihood of getting clicks and converting leads into customers.
9) Implement lead capture forms
Lead capture forms are essential in any successful healthcare marketing strategy. They allow you to collect information from potential patients, such as name, email address, phone number, and other contact information. This data allows you to track your leads and nurture them into becoming paying customers.
To get the most out of lead capture forms, design them for maximum conversion. It means providing an easy-to-use interface with a clear call to action that encourages users to take action. You should also include a field for additional comments or questions so that you can gather more detailed information about your leads.
Your lead capture forms should also be strategically placed throughout your website. Place them prominently on your homepage, or add them to key service and contact pages. Additionally, consider offering incentives to encourage people to fill out the forms, such as discounts or free consultations.
By investing in lead capture forms, you can track your leads and nurture them into becoming loyal customers. The right combination of design, placement, and incentives can make all the difference in finding and engaging patients.
Healthcare marketing is a unique opportunity to build relationships and connections with your audience. These people will benefit from your products and services to be incredibly loyal customers. By putting yourself out there in a way that resonates best with your target demographic — and by keeping an eye on what makes them tick — you’ll find that you have a much easier time engaging them on social media or in person at events like conferences or expositions.
Hopefully, we leave you with insights on the marketing strategies that can help you find and engage patients in a way that leads them to take action.
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Alternatives to Layoffs in Tech: Maintaining a Stable Workforce
The tech industry is volatile and subject to the whims of the market. With the recession that’s predicted to hit the global economy in late 2023, companies everywhere, from small startups to major enterprises, are already taking countermeasures to combat it. Ironically, the most commonly employed countermeasure is large-scale layoffs.
Just recently, Microsoft announced 10,000 job cuts, impacting nearly 5% of its global workforce, as part of “workforce reduction” measures the company is taking. This was soon followed by a similar announcement from Google’s parent company, Alphabet. CEO Sundar Pichai commented on the downsizing, saying the company had “hired for a different economic reality” than what it’s up against today.
During times of economic hardship, it is important for companies to maintain a stable, employed workforce. This is why many businesses are searching for alternatives to layoffs as a method to get through these challenging times. Let’s explore what some of these potential alternatives could be.
A substitute for layoffs is to recruit fewer people each month in the first place. Companies might limit the pace of new recruits and concentrate on keeping their present employees. This is one of the factors that they can adapt to rather than reduce their current staff.
During the height of the pandemic, companies like Amazon, Meta, and Microsoft hired and grew their employee base significantly. In contrast, Apple hired at a more modest rate compared to its peers, adding only 17,000 new recruits between 2020 and 2022. Now that uncertain times are ahead, and we see the consequences of overhiring in the form of mass layoffs. On the other hand, Apple has avoided using layoffs as a tool to deal with these dire circumstances.
The implementation of a hiring freeze is an additional alternative to laying off present employees. This entails putting a temporary stop to all new hiring until the business’s financial situation improves. By doing so, companies can cut expenditures while maintaining the current staff.
Another reason why Apple is not laying off its employees like its counterparts — is that it implemented a hiring freeze in November 2022 to prepare for the turbulent times that are ahead. There’s no news on when the freeze will be lifted, with sources even saying that it could go on until September 2023.
Reducing Working Hours
Reducing the number of hours a worker works each week is one such option that can prove to be beneficial. This enables businesses to maintain their personnel while also cutting expenditures. Employees who are able to keep their jobs but with fewer hours worked may also benefit from it, freeing up more time for other activities.
Reducing hours, not workers, is the right for forward-looking business leaders to institute today. 73 companies in the UK ran an experiment with a four-day workweek. The results showed that managers and employees generally described being more or equally productive in a shortened week. A shorter work week gives employees more time to spend with their friends and family and also focuses on any hobbies or part-time ventures that they wish to cultivate.
Voluntary Separation or Leave
Offering voluntary unpaid leave is another substitute for permanently laying off workers. Although this reduces the number of employees, it also gives them the option to return to their positions later. This is advantageous for the employer and employee because it lets workers take a short break while businesses save money.
Alternatively, companies can also implement a voluntary separation program. This enables employees to willingly leave the organization in exchange for severance compensation. This may be a successful strategy for reducing the workforce while still treating the impacted workers with fairness and compassion. Coca-Cola offered voluntary separation packages to 4000 employees in North America, and it included some major incentives like at least a year’s pay plus a 20% bump.
Focusing on Employee Retention
The most optimal way to avoid layoffs is to reduce employee turnover. High turnover can lead to a constant need to fill available positions, which can be costly and time-consuming. Businesses can decrease the number of unfilled positions and the need to hire and train new employees by putting more emphasis on employee retention and taking measures to improve it. Employers can concentrate on keeping their present staff members by offering them competitive wage packages, flexible work schedules, and opportunities for career advancement.
When to layoff employees?
It’s crucial to remember that laying off employees should only be used as a last resort. Additionally, when layoffs are unavoidable, the business should manage the situation with transparency and empathy. It’s vital to avoid doing bad layoffs or for the wrong reasons. The recent Twitter layoffs are a prime example of a bad layoff, with employees either being informed by email that they have been laid off or finding out after discovering that they have been locked out of their work laptops or communication channels.
Layoffs are not always the best option and can often be detrimental to the organization as a whole. Companies can keep a steady workforce while still controlling expenses and adapting to market changes by thinking about possible alternatives to layoffs. Employers should be aware of their options and carefully consider them while putting the interests of their staff first.
Featured Image Credit: Photo by Christina Morillo; Pexels; Thank you!
4 Software Tools Solopreneurs Need in 2023
Solopreneurs may be the pluckiest type of entrepreneur there is. They decide to bring their business idea to life on their own without the assistance of a team. Solopreneurs can start their companies as side hustles to develop additional career interests. Or they may go all in, hoping to reap the rewards of flexibility and autonomy.
While complete control can be a huge benefit of solopreneurship, it’s not a walk in the park. Since owners tackle everything alone, finding ways to streamline all the to-dos becomes paramount. Without essential software tools, tasks may pile up because they’re too challenging or time-consuming to complete alone. Below we’ll dive into four tools solopreneurs can use to make their jobs easier.
1. Legal Document Management Apps
Every business sells something. It could be intangible, such as bookkeeping services. Perhaps it’s something more physical, like a commissioned work of art. Or it’s a mixture where someone receives a finished product, but services like web development are a part of it.
In each case, a solopreneur has something to offer clients. But managing these relationships usually involves legal agreements, including contracts. Without them, it’s hard to hold either party accountable. Contracts spell out expectations for performance and payment, giving each side some protection and recourse.
The problem is that not many solopreneurs have a background in contract law. In addition, organizing all the paperwork associated with binding agreements can get messy. Most will find it easier to use a contract management platform to handle this side of the business. With the right app, the processes behind creating and signing contracts become more efficient. Owners can automate repetitive tasks, secure e-signatures, and gain cloud storage space.
2. Invoicing Software
Solopreneurship doesn’t eliminate the need for invoice management. Whether a business is a large enterprise or a one-person endeavor, it depends on the exchange of money. Funds flow out to vendors and other companies for supplies. More importantly, revenues come in from those purchasing what the business sells.
Money can exchange hands at the point of sale, but many solopreneurs offer services. With this type of business model, revenue usually comes in after the fact. A graphic designer may perform recurring work for six different clients. However, the designer won’t receive payment until each client approves the agreed-upon deliverables. This setup requires invoicing, which can become tedious for any business owner.
It’s even more cumbersome for solopreneurs, who must juggle projects and chase down payments at the same time. A report from the Independent Economy Council found getting paid is one of the top challenges for freelancers. An astonishing 74% of gig workers say they’re not receiving on-time payments. Unbelievably, 59% say they’re still waiting for $50,000 or more.
Yet 38% are still creating invoices from scratch using word processing tools, and such invoices must be tracked manually as well. Invoicing software saves solopreneurs from having to do this. They can reuse templates, track when invoices go out, and determine which payments are late. Invoicing apps streamline the process of following up with late or missed payments and signal the need for tough client conversations. Also, these software tools automatically make deposits into bank accounts and simplify income tax preparation.
3. Task Organizers
Making to-do lists takes time away from doing the work. Even so, it’s a necessary step in the planning process. Solopreneurs who devote their attention to every aspect of running a business will find it difficult to succeed without organization. Spreadsheets and word processing programs might seem like a convenient solution. But these software tools are often too simplistic to meet the needs of a busy owner handling it all.
Project management solutions are great for larger companies because they keep teams in collaboration mode. A business with one person may find project management apps too complex. After all, they’re the only ones tracking tasks, creating timelines, and delivering outcomes. Solutions that organize to-do lists are usually a better fit.
These apps let solopreneurs initiate tasks, categorize outstanding items, and establish priorities. They can see what’s on their plate each day before it begins. If a deadline needs reprioritizing, it’s not too difficult to rearrange. A business owner can immediately see how a shift in priorities will impact the rest of their scheduled responsibilities. Furthermore, task organizers will send reminders of critical deadlines so nothing gets missed.
4. Social Media Tools
Statistical research shows 33% of marketers spend between one and five hours weekly on social media. While this represents the majority, about 23% dedicate six to 10 hours weekly to social media marketing. This time may seem like a drop in the bucket for larger companies, but it can be more significant to solopreneurs.
Sole business operators aren’t relying on the talents of a social media manager to post for them. Marketing, including social media posts, is something they must plan as part of their day. Simultaneously, social media may become like a rabbit hole they can’t escape. A solopreneur’s productivity can take a nosedive if they get too caught up in posting content.
Fortunately, there are apps that can automate posts for owners who want to avoid distraction. Solopreneurs can still engage with their customer base while getting back a portion of their time. Social media software tools let them automatically schedule posts for each week. If business owners have a long-range content calendar, these platforms can execute it. Sudden changes aren’t a problem, as it’s possible to cancel or modify automated posts.
What Solopreneurs Need
Operating a business is daunting enough for owners who have teams to rely on. Those who do it by themselves are, without a doubt, a different breed. They’re not afraid to face challenges, knowing they can learn to handle whatever comes their way. But it doesn’t mean solopreneurs can’t gain advantages from adding specific software to their toolkits. Apps that make everyday processes less of a chore can also make running a solo venture less overwhelming.
Featured Image Credit: by Judit Peter; Pexels; Thanks!