Transforming the Healthcare Industry through AI & Large-Scale Data Analytics

November 11, 2019

Transforming the Healthcare Industry through AI & Large-Scale Data Analytics :

An analysis from the US Govt estimates that we spent over $3.65 Trillion on Healthcare in 2018, that’s $11,212 per person. This grew 4.4% over 2017 and is expected to grow 5.5% annually up to 2027. No wonder Healthcare is viewed as a cost burden by most.

An NIH paper states:

“Because medicine is a profession and because of the special privileges granted to physicians by society, quality-based principles that evolved in the manufacturing business have been difficult to adapt to medical practice. Physicians learn from other physicians and medical literature. This leads to wide variation in what is considered best practice. Variation has complex association, including the variation in expert opinion, the complexity of medical knowledge, the variation in physician decision-making potential, and human error.”

Surendra Saxena, our VP Sales moderated a panel discussion with Industry experts, Pushkar Singh, VP Engg. Glooko, Ellen Campana, Director KPMG Lighthouse Center of Excellence and Bidyut Parrick, CTO Interface ED, on how AI and-Large scale Data Analytics could transform the Healthcare Industry.

Such variability has impacts on outcomes.

A quadruple aim of Healthcare is focused on

  • Improving the patient experience of care.
  • Improving the health of populations.
  • Reducing the per capita cost of healthcare.
  • Reducing clinician and staff burnout

Among all vertical Healthcare is consider one of the most promising verticals for adopting AI and Data Analytics into their workflows and business architectures.

The discussions focused transformations from a Care Team, Population as well as patient perspectives:

  • Digitalization of Healthcare: Using AI or other digital tools to make operational processes less expensive
  • Access and engagement: Improving how patients and consumers interact with healthcare providers, systems and services
  • Diagnostics and Therapies: Developing new products and services that use AI algorithms to provide diagnoses or health advice to patients”

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