The use of Artificial Intelligence (AI) in healthcare started as early as the 1970s, but its significant transformative power was only widely recognized in the last decade. The scope and capabilities of AI is being pushed and innovated by numerous players in the healthcare sector. Despite the promising advances, spectators are questioning the true impact and return on investment (ROI) of AI in healthcare.
The first area for examination is the current impact of AI on healthcare. Health systems are duty-bound to improve their metrics across all aspects of patient care, while facing financial and labor limitations. The positive effects of AI in addressing these challenges are not ideals, but a reality. Currently, several startups are focusing on this space. The pivotal points to consider here are what AI helps hospitals achieve at present, level of AI adoption in healthcare, and the impact extent of AI throughout the healthcare systems.
Another view to consider is the breadth of a vendor’s FDA-cleared offering. Guidelines and best practices for AI application need to be established by regulatory bodies before the technology can be widely adopted. Over 850 AI/ML-empowered medical devices are listed on the FDA’s website. The things to watch out for include how most FDA-cleared AI algorithms are founded on medical imaging. Vendors may provide a sufficient imaging solution to address a particular pathology, but companies offering comprehensive AI platforms have an advantage over those providing point solutions. Besides, there are non-clinical types of FDA approved AI to consider that meet various hospital needs such as population health, EMR integrations, data analytics, and care coordination.
Lastly, the long-term fit of AI into hospitals is essential. Each hospital has its specific targets and measure of success for post-implementation of healthcare AI. This could range from improved triaging, managing follow-up protocols better, easing administrative burdens, reducing patients’ stay length, slashing turnaround time, etc. But as AI becomes more ingrained in different hospital workflows, health systems must adopt an enterprise-wide perspective. This implies that AI can be embedded deeply into hospital workflows, beyond merely medical imaging. The vendors that go beyond single-point solutions and embrace an enterprise-wide approach show a promise of longevity.
The opportunities for producing meaningful ROI proliferate when AI is implemented at scale. Hospitals are redefining their C-Suite positions to improve experiences of patients and clinicians alike. Embracing enterprise-wide AI can facilitate both clinical and financial benefits for hospitals. Further insights on the transformative impact of enterprise-wide AI are explored in the resource ‘AI in Hospitals: A Journey of Discovery, Depth, and Deployment’.
