Abstract Clinical prediction models are developed with the ultimate aim of improving patient outcomes, and are often turned into prediction rules (e.g. classifying people as low/high risk using cut-points of predicted risk) at some point during the development stage. Prediction rules often have reasonable ability to either rule-in or rule-out disease (or another event), but rarely both. When a prediction model is intended to be used as a prediction rule, conveying its performance using the C-statistic, the most commonly reported model performance measure, does not provide information on the magnitude of the trade-offs. Yet, it is important that these trade-offs are clear, for example, to health professionals who might implement the prediction rule. This can be viewed as a form of knowledge translation. When communicating information on trade-offs to patients and the public there is a large body of evidence that indicates natural frequencies are most easily understood, and one particularly well-received way of depicting the natural frequency information is to use population diagrams. There is also evidence that health professionals benefit from information presented in this way. Here we illustrate how the implications of the trade-offs associated with prediction rules can be more readily appreciated when using natural frequencies. We recommend that the reporting of the performance of prediction rules should (1) present information using natural frequencies across a range of cut-points to inform the choice of plausible cut-points and (2) when the prediction rule is recommended for clinical use at a particular cut-point the implications of the trade-offs are communicated using population diagrams. Using two existing prediction rules, we illustrate how these methods offer a means of effectively and transparently communicating essential information about trade-offs associated with prediction rules.