Artificial intelligence (AI) has a wide range of applications in the healthcare industry and offers numerous benefits, including making care more accessible, improving clinical decision making, and helping providers achieve favorable outcomes for their patients.
Healthcare providers, payers, and health tech companies are increasingly adopting AI tools, and Lumiata is excited to be part of it.
Here’s a look at the state of healthcare AI and how you can use Lumiata to support your organization’s efforts.
AI is increasingly being incorporated into healthcare organizations
Healthcare organizations across the country are adopting AI tools to help them provide better care and achieve better outcomes for their patients.
In 2021, the global AI in the healthcare market size was valued at USD $10.4B, according to a report by Grand View Research, and is expected to grow at a compound annual growth rate (CAGR) of 38.4% between 2022 and 2030. In late 2020, more than 50% of healthcare leaders expected AI to drive their organization’s innovation in the coming year, the Healthcare Financial Management Association reports.
Artificial intelligence will continue to have a growing impact on the healthcare industry.
AI is analyzing healthcare data
As digital healthcare tools become increasingly popular, more and more healthcare data is being produced. However, when this data is unstructured, it can be difficult to learn from it. Healthcare providers need AI tools to help them make sense of this data and draw actionable insights.
AI tools can support healthcare data analytics by cleansing and organizing the data, then identifying trends and generating predictions that providers can use in their clinical decision-making. Lumiata, for example, uses a comprehensive data cleaning process that uses smart algorithms to remove data that is incorrect, incomplete, improperly formatted, or duplicated.
We also validate and normalize the data to prepare it for machine learning (ML) so providers can gain valuable insights from the data.
AI is helping clinicians detect diseases earlier
When it comes to diseases and patient health, early disease detection contributes to better patient outcomes. The earlier diseases are identified, the sooner providers can take action to keep their patients healthy. AI can be used to detect disease onset and progression earlier so physicians can provide high-quality care promptly. For example, Lumiata uses AI to predict the onset and progression of more than 130 acute and chronic illnesses over the next 12 months. These predictions enable providers to intervene sooner and achieve better outcomes for their patients.
AI is being used to support personalized care
Healthcare AI tools can support precision medicine, an approach that aims to achieve better outcomes for patients through personalized care. These AI tools can be used to determine treatments and other healthcare solutions that are likely to help a group of patients based on their common risk factors and health conditions. Such AI tools may use analytics, imaging, and molecular diagnostics.
Healthcare providers can also use AI to offer care when and where the patient prefers, whether in person, virtually via telehealth, or a combination of the two. For example, AI can be used to identify patients at risk of developing a disease and proactively alert physicians, who can then reach out to patients via telehealth before in-person care becomes a necessity.
AI is improving the claims review process
Billing errors are extremely common, causing payers to pay more than they should and providers to not get paid promptly. Fortunately, AI is improving the claims review process for everyone involved.
Lumiata, for example, uses AI and ML to catch more suspicious claims before they’re paid and before they’re sent to vendors for review. This enables payers to review more and higher-cost claims internally, saving money on vendor fees in addition to the money saved by not paying inaccurate claims.
For providers, our comprehensive payment integrity approach is used to identify suspicious claims before they’re submitted, allowing providers to correct them and get paid the first time.
AI is reducing admin work
Taking notes during appointments and reviewing medical records can take up a lot of a clinician’s time, resulting in reduced productivity. Administrative tasks also prevent clinicians from spending more time with patients. AI can assist with administrative tasks, allowing clinicians to focus more on their patients. For example, tools that use natural language processing can be used to take notes during appointments with patients.
While these tools are documenting what the patient is saying, clinicians can be more present in the conversations and deliver quality care. Natural language processing tools can also be used to detect signs of depression in patients that clinicians may not notice in real-time and alert the clinicians to these concerns.
AI in healthcare faces some challenges
The growing popularity of AI in healthcare is exciting, but it does face some challenges. For example, even though there’s a vast amount of data available, it’s a mix of structured, unstructured, and fragmented data, making it difficult for organizations to draw valuable insights from it. AI tools can also take a lot of time to implement, time that employees need for other tasks.
At Lumiata, we’re tackling these issues to help organizations of all sizes benefit from AI. Before we generate predictions, we bring an organization’s data into our ecosystem and cleanse, normalize, and validate the data. We can also transform data that contains mixed coding systems to the newest coding system. Everything we do prepares data for AI and ML so organizations can generate actionable, accurate predictions. Our solutions are also much faster to implement than other AI solutions.
See how your organization can benefit from AI
Whether you’re a provider, payer, or health tech company, artificial intelligence can help your organization accomplish its goals, from improving business operations to providing higher quality care to achieving better patient outcomes and more.
With Lumiata’s AI solutions and predictive analytics, you can predict diseases, high-cost members, and claims, and gain other valuable insight. Request a demo to see how it works.