This piece is part of AI on the Move, a PAN series that explores the ongoing impacts of artificial intelligence on marketing and PR.
As healthcare organizations grapple with how to leverage AI, PAN healthcare clients demonstrate real-world use cases that improve outcomes and costs for patients, physicians, and other stakeholders. We examine two unique examples of AI in healthcare.
Artificial Intelligence (AI) is taking center stage in healthcare technology conversations across the industry with its promise to improve efficiency, safety, outcomes, and access. In fact, Optum revealed in a December 2021 survey that 85% of healthcare executives have an AI strategy, and PAN’s recent Brand Experience Report indicates 70% of customers expect more interaction with AI in the next five years. Coupled with the potential savings of $200 – $360 billion in US healthcare spending according to a paper published by the National Bureau of Economic Research, stakeholders are taking notice.
The latest and greatest emerging AI tools present a host of novel opportunities and capabilities for the healthcare sector — from AI/ML models that can predict individual-level health risks, to generative AI hospital operations solutions to improve patient access, staff and clinician experience and reduce staff burnout — the technology has become more than a buzzword, and is here to bring tangible benefits to the industry.
Not surprisingly, media conversations around AI’s impact on healthcare have increased significantly. In fact, according to PAN’s recent report analyzing the top media conversations happening in digital health to date in 2023 (January – September), HealthPulse: Conversations that Matter, there has been a 166% increase in year-to-date conversations around AI in healthcare compared to the same time last year. While much of the dialogue is centered on excitement around potential impact, there are still many questions that remain in terms of how the industry can fully embrace this technology and best show true value.
As the conversations continue, let’s explore two examples of AI in healthcare from PAN clients who are currently leveraging the technology to demonstrate benefits for patients and other stakeholders.
AI-driven predictive models are used to forecast disease outbreaks, hospital admissions and patient readmissions. This helps healthcare organizations prepare for potential surges in demand and allocate resources more effectively. PAN represents ClosedLoop, a company that specializes in healthcare AI and data science.
ClosedLoop’s primary offering is a healthcare-specific AI platform, paired with a healthcare content library, that automates Machine Learning operations so that predictive models can be built, trained, deployed, and monitored faster and at lower cost to providers, payers, pharmaceutical companies and digital health organizations. ClosedLoop technology is also leveraged by healthcare organizations to measure and evaluate ROI, impact and overall effectiveness of interventions. ClosedLoop can ingest, clean, and enrich nearly any structured or unstructured healthcare data type, including clinical, claims, SDOH, and others to predict and address. Specifically, the AI-powered platform can predict patient health risks, potential hospital readmissions, disease progression and other health events and outcomes.
This technology assists healthcare providers in identifying high-risk patients and intervening early to improve care and reduce costs. Additionally, ClosedLoop’s AI platform supports healthcare organizations in managing the health of entire patient populations, identifying trends and implementing preventive measures to improve overall community health and health equity. By analyzing data and processes within healthcare organizations, the platform streamlines workflows, reduces administrative burden and enhances resource allocation.
Further proof of leadership in this space, in April 2021, ClosedLoop won the CMS AI Health Outcomes Challenge, beating out more than 300 other entrants — including IBM, the Mayo Clinic, Geisinger, Merck, Accenture and Deloitte. The multi-year contest centered on predicting health outcomes with explainable AI solutions that clinicians can understand and trust.
Earlier this year, PAN assisted OM1, a leading real-world data, outcomes and technology company, with its launch of PhenOM™, its artificial intelligence-powered platform for personalized medicine. Calibrated using OM1’s longitudinal health history datasets, PhenOM uses AI to identify unique digital ‘phenotypes’ associated with conditions and outcomes and isolates unique patterns among patients with distinct characteristics to highlight risks and opportunities in a person’s care journey. PhenOM powers personalized healthcare insights at scale across the entire healthcare ecosystem, from life science research to point-of-care clinical decision making with the ultimate mission of improving individual care and population health.
OM1 executives have also engaged in important conversations about how AI can help fill critical gaps in care. As an example, earlier this year OM1’s Dr. Carl Marci shared his perspective on how AI can revolutionize how doctors treat mental health with Fox News and NPR.
Researchers, healthcare systems, payers and technology companies continue to harness AI’s potential for better patient outcomes and overall system efficiency. Despite concerns about this new and emerging technology around potential algorithmic bias, privacy and cybersecurity, AI solutions are already yielding significant results. And, in July, the White House secured a pledge from seven of the leading U.S. companies in artificial intelligence to commit to collaborating within the industry to build safeguards into the fast-evolving technology.
AI has the power to transform traditionally antiquated healthcare technology for a digital future that can ensure more accessible and targeted health care, while lowering overall costs and increasing efficiencies for the ecosystem.
At PAN, we continue to raise the visibility for these truly life-changing initiatives and reputable thought leaders, and monitor shifts in these rapidly evolving conversations around AI’s place in the healthcare ecosystem. To learn more about how our customers are viewing AI, check out our Brand Experience Report. And, to take a deeper dive into our analysis into the AI conversation, take a look at our HealthPulse: Conversations that Matter. Interested in telling your brand’s AI story? We’d love to talk with you!