As tech and data sharing become more prevalent, healthcare will likely be more predictive,
Today’s blog is by Gayl Southard, Vice President of Administrative at SafeSourcing.
As tech and data sharing become more prevalent, healthcare will likely be more predictive, and telehealth will evolve, giving rise to new modalities of care.
The coronavirus pandemic set a cascade of changes in healthcare, and no sector was impacted more than digital health. Patients began receiving care outside of the hospital or doctor’s office into a necessity, instead of a luxury. That acceleration has continued into 2021. The global healthcare industry revenues are expected to exceed $2.6 trillion by 2025, up from $2 trillion last year, with the majority of that growth propelled by artificial intelligence and telehealth, according to consultancy Frost
Artificial intelligence is a key facet of this change. Proponents of the technology believe AI has the potential to transform healthcare functions, from clinical trials and drug discovery, to back-end administrative processes, to complex illness diagnosis.
Investment in AI has exploded. With the advent of the cloud, which allows organizations to ingest and analyze large amounts of data, AI could help drive major insights in care while saving the industry a lot of money. According to a 2019 Optum survey, senior health executives plan to spend $40 million over the few years on AI-related projects, compared to an estimated $32.7 million in 2018.
In 2021, industry could see further oversight of AI for healthcare use cases, especially those in the exam room, to try to address these questions of data bias. “If an AI makes a mistake, who’s liable for that?,” said Karen Howard, the director of science, technology assessment and analytics for the Government Accountability Office, at a late January webinar on AI policymaking.
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Rebecca Pifer, HealthCareDive, 1/29/2021