Healthcare enjoys the stature of the most significant sector in the US economy, with $4 trillion spent annually on healthcare. When analysing government spending, nearly a quarter is spent on healthcare. Similarly, it accounts for 11% of all American jobs, thereby employing more people than any other industry.
At the same time, healthcare is the epitome of a severed industry while considering the US economy. This is an upshot of healthcare costs escalating beyond control presently, from $355 per individual in 1970 to $11,172 per individual in 2018. However, the appalling fact is that despite healthcare per capita being lofty than many other countries, the US ranks 38th globally when it comes to life expectancy. It is ranked between Lebanon and Cuba. When considering developed countries, access to healthcare remains harrowing in the US.
At this bizarre juncture, the entry of Artificial Intelligence engenders to snip the Gordian knot in order to refashion the healthcare sector. The symbiotic relationship between machine learning and healthcare is an impetus for this sector. The ethos of healthcare employs pattern recognition. When the homeostasis of the human body is disturbed, the utilization of a constellation of data points, including the latest physical symptoms, blood pressure, genetic composition, etc., can carve the story of a person’s health. The phenomenal impact of AI can be witnessed in the clinical, administrative, and pharma fields of healthcare.
Utilizing computer vision in medical images to identify health conditions is among the most popular use of AI in the healthcare sector. The object classification of determining whether it is a tumour or a skin lesion or something else is what deep learning is brilliant. Why would the industry require radiologists anymore because, within a span of 5 years, deep learning will outstrip the excellence of radiologists. Some of the noteworthy start-ups are PathAI, Paige, Zebra Medical Vision, and Caption Health.
Patient Intake and Engagement
Another field that will observe a transformation is patient intake and engagement – a crucial facet of the healthcare sector. The concurrent snowballing in technology has facilitated AI-based conversational interfaces that can succour patient screening and care navigation. To confer on patients, a compelling and relaxing care regimen AI can help communicate with patients on a quotidian basis.
This can engender a reformation in the healthcare sector by democratizing healthcare access by making expert health guidance available to all at an affordable cost and thereby negating the inequality based on economic status in the healthcare under the human interfaced healthcare system.
The upsurge for the adoption of remote health was a sequel ushered by COVID-19. This method employs digital tools to provide the delivery of clinical services to patients.
Simultaneously, the pandemic has worked as a catalyst in promoting telehealth, which is on its voyage to being an essential pillar in healthcare delivery. According to McKinsey, around $250 billion of healthcare spending will be virtual in the following years in the United States alone. Remote health will be augmented with the entry of machine learning, an unrivalled blend.