With the introduction of large language models like ChatGPT Dalle, Gen AI became one of the most sought-after technologies. Business leaders want to incorporate generative AI to improve their overall efficiency regardless of which industry. Healthcare is not untouched by this disruptive technology. Healthcare has always been at the forefront of evolution, and generative AI is leading the transformation of this industry. You must hire a company offering Gen AI consulting services to integrate generative AI strategically for your business use case. Let’s uncover the top generative AI solutions for healthcare business.
Top 5 Generative AI Solutions
As generative AI potential unfolds, healthcare business executives integrate AI-powered solutions to enhance diagnostics, streamline workflows, and improve overall outcomes. Let’s explore five critical generative AI solutions that can transform your business.
1. AI-powered Medical Imaging
According to a report by MarketsandMarkets, the global AI market for medical imaging is projected to reach $1.9 billion by 2026. Generative AI models have made remarkable strides in this field. By creating synthetic medical images, these models expand the scope of available datasets, significantly improving the training of machine learning algorithms used for diagnosis. This solution is beneficial for rare diseases where large datasets are limited.
To further understand this — deep learning models can now simulate CT scans or MRIs, helping radiologists and clinicians detect anomalies with greater accuracy.
The result?
Faster diagnosis with fewer errors and personalized treatment plans lead to improved patient outcomes.
Read this blog to know more about- Generative AI in Medical Imaging & Diagnosis
2. Virtual Healthcare Assistants
Gen AI-powered virtual healthcare assistants can manage patient queries, schedule appointments, provide medication reminders, and offer initial assessments.
A report by Accenture states that virtual healthcare assistants could save the healthcare industry $150 billion annually by 2026. They reduce administrative burden while maintaining a human-like interaction and offering a 24/7 service model. Virtual assistants operate on data and artificial intelligence, curating personalized responses and recommendations. When the outcomes are backed by data and powered by AI- it enables informed decision making.
Furthermore, these assistants can be trained to offer personalized responses based on patient history and real-time symptoms for more timely detections and significantly providing necessary care.
3. Accelerated Drug Discovery
Traditional drug research is frequently a long and pricey affair. Estimates show that it takes an average of 10-15 years and costs around $2.6 billion to bring a new medicine to market. Generative AI can expedite this process by modeling molecular structures and forecasting how novel medications interact with the human body.
Intelligence Insider predicts AI will save the pharmaceutical sector more than $28 billion by 2028. Artificial intelligence (AI)- driven systems are already being used by pharmaceutical corporations such as Pfizer and GSK to shorten research timetables, find possible drug candidates more quickly, and boost clinical trial success rates.
4. AI-Powered HCC Coding
According to a report, AI-based medical coding can improve coding accuracy by 30% and reduce administrative costs by 20%. Hierarchical Condition Category (HCC) coding is essential in the risk adjustment process for Medicare payments. But manual coding is prone to errors and inconsistencies, potentially leading to significant financial discrepancies. Generative AI solutions streamline HCC coding by automatically analyzing patient data and suggesting accurate codes, reducing the time spent on documentation.
Automating this process ensures that healthcare providers receive appropriate reimbursement and that patients disease is categorized based on their health risks.
5. Personalized Medicine
One of the most promising applications of generative AI is personalized medicine. Gen AI can create customized treatment regimens suited to each patient's unique requirements by analyzing enormous volumes of patient data, including genetic data, medical histories, and real-time health metrics. Research indicates that between 2023 and 2030, the global market for personalized medicine is projected to expand at a compound annual growth rate (CAGR) of 11.6%.
Furthermore, generative AI models can forecast a patient's reaction to various drugs, enabling doctors to recommend the best action with the fewest adverse effects. This strategy's increased targeting, effectiveness, and efficiency of therapies result in better patient outcomes.
To Sum Up
The healthcare industry is continuously evolving; it has seen remarkable changes with Gen AI. Gen AI enables industry leaders to re-imagine the healthcare business in ways we have not seen before. When gen AI reaches maturity, it may also interact with other modern technologies—like augmented and virtual reality or other types of AI—to change how healthcare is provided. A healthcare provider might license its voice and likeness to produce a branded visual avatar that patients could communicate with. Alternatively, a doctor could examine how their approach to a patient compares (or differs) from that of other patients who have had favorable results, taking into account the entirety of the patient's medical history. Though they may seem far off, these concepts could come true in the near future. This shows how much potential generative AI has yet to be uncovered. So what are you waiting for? Tap into this billion market by partnering with a Gen AI consulting company.
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