Building an ML model to predict Medicare claim amounts

Medicare is a benefit that is provided for people in the US who are aged over 65 years. In general, it is designed to cover healthcare costs for seniors including procedures, visits, and tests. The cost of Medicare is covered by the federal government in the US. Just like with any private insurance, they need to analyze the data to find out ways to estimate payment costs and make sure they are setting aside the right budget when compared to the premiums and deductible amounts. This is important as the cost of healthcare services changes over time. ML can learn from past claim amounts and predict claim amounts for new subscribers of the plan. This can help the insurance provider to plan for future expenses and identify areas for optimization. We will now build this model using Amazon SageMaker. The goal of this exercise is to create an end-to-end flow for feature engineering using SageMaker Data Wrangler and a model in the SageMaker...