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How To Cut Billions in Needless Healthcare Costs

On a clinical level, American healthcare is arguably the most advanced in the world, powered by science and technology and guided by skilled and dedicated medical professionals.

Nick Giannasi, Ph.D., chief artificial intelligence officer for Change Healthcare, says that when computing tools such as machine learning are applied to many of the back-end administrative tasks that burden the healthcare system, there is an opportunity for significant savings across the entire system.

“Although it sounds far more sexy to talk about diagnostics and clinical care, there’s actually relatively low-hanging fruit with AI and machine learning to address one of the biggest problems in the U.S., which is the cost of healthcare,” Giannasi says.

Coupled with new, potential ways of administering care at scale while also creating highly personalized patient experiences, AI is poised to dramatically alter the cost and also the culture of the entire healthcare system.

“It has the potential to free up a huge amount of dollars annually.” Once these tools are adopted across the system, it’s likely patients will experience healthcare administration like they do other transactions, with instant billing and claims that lack all the clerical hassle and delays they suffer now.

You have the machine that’s aware of resources in a large health care system and can essentially match those resources to the need, on the fly.” In practice, that could mean providers might have automated programs that, in an instant, can identify high-risk patients for an emerging disease pattern within locales — or an entire population, for that matter—and deploy early intervention programs before the disease takes hold, creating better outcomes at a far less overall cost.

Cost-Saving Power Tool to Spark a Holistic Transformation Artificial intelligence isn’t a panacea for the problems in the U.S. healthcare system, but the technology is sparking a rather large wave of transformation, and new and novel ways of applying data science to healthcare conundrums continue to emerge for every step of the patient healthcare journey.

“You can’t really solve the patient experience in a very detailed way until you go back to the basics and understand the root causes, some of which include siloed information and poor communication contributing to decisions being made very slowly, and enacted with high costs, both in terms of human suffering and dollars,” says Moore.