🙂 AI Your Clinical Co-Pilot

Good morning! 

Welcome to Healthcare AI News, your weekly dose of the latest developments and headlines in the world of healthcare AI.

In this issue, we explore the integration of AI in clinical decision-making, is it a game changer? CVS closes on $8B Signify Health acquisition, a Breast pump company leaves millions of documents exposed and Dark web intel underutilized by CISOs.

Be sure to read on to see this week's Top headlines, Industry, Tech, and M&A news.

Let's dive in.

HEADLINE ROUNDUP

• Sam Altman (Co-Founder, OpenAI), potentially scary good AI Is on the way as OpenAI and other startups build emotion-based AI models (Read more)

• Elon Musk and others urge AI pause, citing 'risks to society'(Read more)

• 300 million jobs could be affected by latest wave of AI, says Goldman Sachs (Read more)

• FTC cracking down on Telehealth apps and data sharing (Read more)

• Introducing Predict - a new AI solution to predict and prevent unnecessary surgeries (Read more)

• What you need to know about the Marburg virus (Read more)

• Kinometrix uses predictive AI to reduce dangerous falls in the hospital (Read more)

• AI predicts community-based Opioid deaths using social media posts (Read more)

• Elon Musk’s Neuralink seeking partner for clinical trials (Read more)

• Harvard geneticists create an organism that is immune to all viruses (Read more)

• UnitedHealth insurance unit to cut the use of prior authorization process (Read more)

💡 Keep reading to catchup on Industry, Tech & Deal flow

THE FEATURE

AI In Clinical Decision Making: A Game-Changer

Picture a world where clinical decisions are made with high accuracy and personalization; with AI this is quickly becoming a reality. Healthcare generates an impressive 30% of all the world's data, with a projected annual growth rate of 36% by 2025. This abundance and availability of data combined with AI tools can transform how HCPs, organizations, and insurers operate. We can already see the benefits. In a study done by Harvard University, AI can reduce misdiagnosis by 85%.

How it works

AI technologies are revolutionizing Healthcare, particularly in light of the current challenges of overwhelmed and understaffed clinical settings. Some AI technologies with the potential to revolutionize clinical practice include:

• Computer Vision - uses AI and deep learning to analyze medical images like X-rays and MRIs, enabling early detection and diagnosis of diseases. For example, computer vision algorithms can accurately detect tumors or other abnormalities in scans, allowing for faster diagnosis and treatment planning.

• Natural language processing (NLP) - NLP can analyze and interpret Natural Language Data from patient records and insurance claims to help identify patients at high risk for chronic diseases or adverse events and support personalized treatment recommendations based on patient history and other factors.

• Data & predictive analytics - By analyzing large patient data sets, including electronic health records (EHRs), and claims data, AI can identify patterns, predict outcomes, and inform clinical decision-making such as identifying patients at risk for readmission or complications, and help providers prioritize interventions to improve patient outcomes.

• Deep Learning models - Deep learning can analyze datasets and identify patterns that may be difficult for humans to detect. Identifying hidden correlations between data points such as patient demographics, medical history, and genetics, enables more accurate and personalized clinical decision-making.

• Chatbots - Conversational AI agents such as chatbots can triage patients and provide personalized health recommendations and information. For example, chatbots can ask patients about their symptoms and provide recommendations for self-care, or direct them to appropriate healthcare resources based on their needs.

A look at the tech landscape

As the Healthcare AI market continues to grow, there is a surge in companies focusing on AI and its potential applications in Healthcare. Several companies have already focused on harnessing the power of AI in clinical decision-making, including:

• Paige.AI is powered by an advanced deep learning cluster for computational pathology, which accesses 28 million high-quality clinical pathology records to train and refine tumor detection algorithms.

• Doc.ai uses the power of AI, computer vision, and NLPs, to extract meaningful data from unstructured sources, saving valuable time & reducing human errors.

• Thymia has developed AI-driven video games to provide a more objective means of diagnosing and monitoring mental health conditions, including depression, Alzheimer’s, Parkinson’s, and ADHD.

• Biofourmis uses AI & ML to analyze patient data to provide personalized care by reading 120+ biomarkers to build precise insights and proactive interventions, with a 93% accuracy in predicting clinical deterioration and 70% reduction in hospital readmission rates.

• Philips MCOT service, which continuously transmits cardiac rhythm, allows for real-time detection of clinically significant arrhythmias in patients after discharge.

By the numbers

The AI market is set to expand rapidly, with a projected compound annual growth rate (CAGR) of 47.6%, from 14.6 billion in 2023 to 102.7 billion by 2028. Additionally, a recent survey found that 23% of US healthcare executives believe AI and machine learning (ML) can effectively improve clinical outcomes. This significant growth rate can be attributed to the increasing use of AI-driven technologies across various healthcare applications, such as cybersecurity, clinical trials, clinical decision systems, virtual assistants, robot-assisted surgeries, telemedicine, dosage error reduction, and fraud detection.

In brief

AI technologies are poised to transform traditional clinical settings by enabling informed clinical decision-making and enhancing clinical outcomes' efficiency, accuracy, and personalization. Insurers can also benefit from better clinical decision-making to develop accurate plans, reduce costly medical interventions, accurately assess risks, and develop effective pricing strategies, leading to increased profitability and competitiveness in the market.

INDUSTRY NEWS

• The quiet privatization of government Health insurance programs (Read more)

• The FDA has approved an overdose-reversing drug Narcan for over-the-counter sales (Read more)

• Uber Health Embeds Same-Day Prescription Delivery Into Its Care Platform (Read more)

• Alzheimer’s first signs may appear in your eyes, study finds (Read more)

• AI prediction tool identifies chemotherapy drug toxicity risk (Read more)

• How 23 startups and AWS are helping our Healthcare heroes (Read more)

• Breast pump company leaves millions of documents exposed (Read more)

• AI breakthroughs in medtech: 7 ways to enhance healthcare (Read more)

• Ema App uses AI to help women manage their health and well being (Read more)

• Ontrak Health will bring AI-powered, active-listening virtual care assistant (Read more)

• Infermedica, announces intake API to improve patient care, reduce clinician burnout and deliver intake data prior to care (Read more)

• Digital Health Technologies (DHTs) for drug development (Read more)

• Gradient AI’s SAIL solution gives the Provant Group greater insights into group health risks (Read more)

TECH NEWS

• Introducing Microsoft Security Copilot: Empowering defenders at the speed of AI (Read more)

• How do Virtual Reality Healthcare clinics work? (Read more)

• How to use ChatGPT in product management (Read more)

• Dark web intel underutilized by CISOs, diminishing Healthcare Cybersecurity (Read more)

• Cognitive AI empowering clinical teams with data-driven Insights (Read more)

• AI-enhanced development makes me more ambitious with my projects (Read more)

• Microsoft and OpenAI get ahead in the LLM competition (Read more)

• Rethinking Healthcare ERPs using cloud-based platforms (Read more)

• Open AI blog on ChatGPT plugins (Read more)

• Tech’s AI armies are huge, yet struggling to innovate (Read more)

DEAL FLOW

• CVS closes on $8B Signify Health acquisition this week (Read more)

• Walgreens touts Healthcare transformation as clinic acquisitions quicken (Read more)

• Kore.ai announces integration partnership with Mediktor. Empowers Healthcare providers with enhanced conversational AI for symptom-checking and triage (Read more)

• Dario announces strategic partnership with Amwell to expand access to its Cardiometabolic Digital Therapeutic solution (Read more)

• Senior Market Sales® enters under-65 Individual Health Insurance market with acquisition of O'Neill marketing (Read more)

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