In many industries, AI is bringing about changes at a rapid rate, and healthcare is one area where AI seems to provide the most support.
Artificial Intelligence is now prevalent in a number of industries and healthcare is at the forefront. Statista reports that, in 2021, the presence of artificial intelligence in healthcare around the world has reached $11 billion, but by 2030, the industry will be worth much more, up to $188 billion, this would mean that 37% growth is likely from 2022 through 2030.
Is artificial intelligence in healthcare enhancing patient outcomes, reducing costs, and improving the workforce? How does it affect healthcare overall?
Understand the Role of AI in Healthcare
AI plays a role in every facet of treating patients. That includes the way diagnosis, monitoring, and treatment occur. Utilizing this cutting-edge technology, organizations will see new ways to accomplish difficult-for-human tasks while also redefining drug discovery, development of techniques, and better overall insight into patient care.
AI will play a role in improving patient care, the foundation of all healthcare industry success. To do that, it will help with:
- Chronic disease management
- Workflow automation for the industry
- Optimization of treatment methods and modalities
- Improving early detection and diagnosis due to risk identification
- Educating and supporting patients as they navigate disease and injury recovery
With so many potential roles to play in the industry, it’s hard to underestimate the value that AI in medical healthcare will bring to the table. AI is capable of taking even the most complex data and making it usable for day-to-day operations while automating tasks, improving communications, and even creating better patient trust.
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Benefits of Implementing AI in the Healthcare Industry
The benefits of AI in healthcare services are numerous. Consider some of the most notable touchpoints in how this technology is changing the industry.
AI helps make medical data more accessible
Medical knowledge is now capable of doubling every 73 days, an astonishing improvement from the past. AI facilitates this by allowing for the better collection, analysis, and utilization of data. For example, it enables hospitals to take thousands of data points to make better decisions on labor management, investments, patient care, and regulation management.
AI improves patient experiences
The patient is the heart of the healthcare industry, and any technology developed must improve the patient’s ability to navigate the system. AI can do this in numerous ways. Coupled with machine learning, it can aid in:
- Speeding diagnosis
- Early risk detection
- Patient and nurse scheduling
- Natural language processing used in EMR
- Financial oversight and regulation compliance
- Minimizing delays due to billing errors, improving revenue as a result
- Analyzing patient satisfaction surveys
- Creating better medication education, management, and safety
AI can pinpoint a risk to a patient faster than a human. It can help to provide alternative treatment recommendations based on previous successes. At the same time, it reduces the number of unnecessary interventions like surgeries that complicate care.
AI enhances how doctors meet patient needs
AI also works alongside machine learning to better encourage and support the way doctors and nurses communicate and meet care demands for patients. Many of the operations that slow down nurses and keep them out of patient rooms can be done by AI. That includes things like administrative tasks, record updating, patient admittance and discharge, and repetitive, time-consuming inputs.
As a direct result, patients spend more time receiving hands-on care and personalized attention from nurses. The hospital or medical office’s tasks are still met, with fewer human errors due to rushed or overwhelmed nurses, and patients receive exceptional care.
Better decision-making in healthcare
AI in healthcare industry applications like these all enhance the decision-making process of hospital and medical center administration, doctor and nurse care, and treatment interventions. Doctors have more information faster, and as a result, they can make decisions sooner, which ultimately saves lives. Depending on the specific type of technology used, it may also aid in reducing diagnostic errors.
More so, AI-aided surgery can streamline operations, ensuring that a flawless execution occurs every time. Doctors may also be able to recommend more advanced and challenging procedures that AI can manage better than human hands, and that could mean surgeries are faster, there’s less blood loss and fewer side effects.
Are you ready to incorporate AI into your practice?
At Bizmatics, we’re tapping into the many benefits that artificial intelligence in healthcare offers and making them easy for our clients to utilize. PrognoCIS cloud-based EHR Solution, streamlines workflows and improves revenue cycle management, medical billing, patient care, and practice management. Reach out to us now to learn how we can help your company.
Artificial intelligence in healthcare is here, and it is taking center stage for 2024 as a way for practices to improve patient care, reduce costs, improve regulatory and compliance requirements, and build stronger, healthier practices. While there are still some hurdles for AI to overcome, especially when it comes to building trust with patients and having access to essential datasets, AI is likely to create better outcomes for patients over the long term.
For organizations, now is the time to take a closer look at ways to improve AI integration into the healthcare industry. Turn to Bizmatics to learn more about the role AI is playing in healthcare going forward