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MedTech Outlook | Friday, November 30, 2018
AI has become an integral part of the healthcare industry. It aids in diagnosis, manages medical data, assists doctors and other healthcare providers tailor-make precise treatments. The three major applications of AI that hold enormous potential include:
• AI-assisted surgery: Since the FDA approved the use of robots in surgery in 2020, over 2700 da Vinci surgical instruments are now in place, which eases the workload on surgeons. Robot-assisted surgeries are expected to aid in savings worth $40 billion, which will only be pushed forward by the technological advances in robotic solutions, which enable them to aid in more types of surgery. Robots powered by AI are expected to be more precise and versatile, and capable of moving beyond the mere replication of human surgeon gestures to control surgical procedures completely. Such robots are expected to perform a range of minimally invasive surgical procedures and enhance their capabilities eventually.
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• Virtual Nurses: AI has been highly beneficial in nursing. A significant reason for the growth and rapid development in this area was the increased pressure stemming from a shortage in medical labour. The AI virtual nurse can work round the clock. Moreover, these virtual nurses continue working without getting overwhelmed at the condition of patients or their various queries, which enables human nurses to spend up to 20 percent less time on such tasks. Virtual nursing assistants cone second to AI-assisted surgical robots in economic value potential and can save the healthcare industry up to $20 billion per annum.
Sensey, a California-based startup, developed Molly, a medical chatbot or virtual nurse. The AI-powered Molly is capable of speech and gesture recognition and can interact with patients, check symptoms and respond to their queries efficiently.
• Fixing the Administrative Workflow: Roughly 16 percent of the physicians’ workload and more than half the activities of nurses are centered around administrative tasks that are relatively unrelated to patient care. The use of AI-based systems to automate administrative practices provides healthcare professionals the freedom to focus on patient care without worrying about time-consuming administrative tasks. Prominent among these is the AI voice-to-text transcription or speech recognition software, which enables the speeding up of administrative tasks like ordering tests, chart notes and filling prescriptions. The healthcare industry saves nearly $18 billion annually by automating and streamlining the administrative workflow in hospitals.
Other AI-based frontline and back-office applications that lead to major savings include fraud detection, dosage error correction, connected machines, clinical trial participant identifier, preliminary diagnosis, automated image diagnosis, and cybersecurity.
As health costs rise constantly, the issues of coverage and care become an important topic. Heath AI is on its way to becoming an essential part of the society, and its growth is expected to come as a financial relief to several healthcare systems burdened with the rising costs.
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