AI in healthcare: What awaits the future of the industry?
AI is known to perform tasks faster than humans while being more efficient. The application of AI in healthcare is growing into a phenomenon to look forward to as it is making waves across the healthcare industry.
The use of AI in healthcare can help ease the lives of doctors, patients, and healthcare providers alike. These are quality-of-life additions to the healthcare industry and are highly capable of predicting trends using analytics and data, leading to medical research and finding innovation. Combined with patient data and predictive algorithms, it is now possible to identify cancer in its nascent stages and heart attacks beforehand.
Robotics with AI isleveraged for surgery owing to their superior precision and can even perform actions best suited for the medical scenario.
On the administrative front, intelligent healthcare solutions bring a lot of structure and efficiency to day-to-day operations for healthcare companies.
The global AI in healthcare will see a CAGR of 37.1% from 2022-2023!
So, it’s evident that AI in healthcare is brimming with potential. Here are some of the benefits of AI in healthcare:
- Efficiency in clinical research, diagnosis, and treatment
- Precision in advanced surgeries
- Optimizing costs for healthcare organizations
- Streamlining processes and administration for healthcare companies
- Improving patient-doctor and patient-healthcare provider experiences
Contrary to popular opinion, using AI in healthcare will not replace humans but will make their lives easier. It will facilitate an optimal team effort scenario, streamlining the process and obtaining maximum efficiency, which is favorable for healthcare providers and patients.
Centralize Patient Information and Streamline Operations with AI in Healthcare
The accelerated shift towards the online ecosystem on all fronts is now a reality. It’s not just eCommerce businesses; even healthcare companies require an online presence nowadays to capitalize on patients. Healthcare providers use advanced medical devices, and with the current norm of connected technology, there is an inflow of an immense amount of data.
The Bigger Challenge?
While some organizations have solutions to manage data and generate patient information, the challenge lies in bringing structure to the data.
Healthcare organizations are left with a plethora of unstructured data, sometimes from multiple sources. Even top healthcare companies lack the proper means and solutions to manage data ranging from patient information and medical transcripts to medical records. Efficiently streamlining data from various information sources is a significant challengeandcannot be performed with relational databases.
The Universal Customer Data Platform is Affine’s AI solution for healthcare providers that combines multiple data sources and pools the information, creating a universal data lake.
Healthcare providers can leverage insights from this and create a universal patient profile that can be accessed worldwide. They can also personalize their efforts for customer reach and engagement more efficiently, owing to the centralized data ecosystem.
Ai In Healthcare to Optimize Costs And Increase Revenue
Healthcare prices stem from various factors. The United States is notorious for its ridiculously high healthcare costs, which spells a significant setback in terms of revenues for healthcare providers. The USA spent a whopping $4,124 Billion on healthcare in 2020! Modern-day inflation has made everything high-priced and expensive healthcare is a deterrent to many patients who ideally should take regular tests and visit practitioners. In the long run, this is an unsustainable model for healthcare companies.
Healthcare providers can create packages and plans that patients can subscribe to, ensuring business while providing value to patients both service and cost-wise for a sustainable operating model in the long run.
The Intelligent Pricing Solution is another Affine solution for healthcare providers that creates a uniform pricing model for patients. This smart solution only recommends required tests and procedures thanks to the patient information, thus making it possible for the companies to offer great prices while providing quality healthcare service.This is vital in developing a sustainable patient relationship while improving engagement and helps increase the ROI in the long run.
Use Of AI In Healthcare Is Essential for A Sustainable Future
The above solutions are just a glimpse of what AI is capable of for healthcare providers. According to this report, ML in the healthcare industry is estimated to generate a global value of over $100 Billion. In the future, we are looking at AI-powered predictive healthcare, where anomalies in human health and chronic diseases are identified with historical patient information, and preventive measures can be taken in advance to save lives.
People are embracing travel post the pandemic, and organizations are encouraging a work-from-anywhere culture. Healthcare needs a connected tech approach, and providers must opt for centralized AI solutions that can provide patient information oncommand. Not only does this make for an efficient, but it also improves the patient experience.
For healthcare providers, AI and ML-based solutions help engage and motivate patients, improve their lives, assist them in their day-to-day activities, and handle the inflow of customers smoothly.
This may sound quite simple, but we all witnessed what happened when COVID-19 hit the USA, and the healthcare system got choked handling the sheer number of patients. Despite having one of the most advanced healthcare systems in the world, the country was brought to its knees during the pandemic. When I mentioned earlier that AI assists humans and does not take over their jobs, I couldn’t find a better example than the healthcare industry. Healthcare employees are among most overworked, burnt out, and underrated.
AI in healthcare can aid organizations, patients, and healthcare employees at capacity and their absolute limit, helping them bypass various tasks.
What does Affine bring to the table?
Affine is a pioneer and a veteran in the data analytics industry and has worked with giants like BSN Medical, Optum, AIG, New York Life, and many other marquee organizations. From game analytics and media and entertainment to travel and tourism, Affine has been instrumental in the success stories of many Fortune 500 global organizations; and is an expert in personalization science with its prowess in AI & ML.
Learn more about how Affine can revamp your healthcare business!
