Forbes Healthcare Summit: AI can improve the quality and cost of healthcare

Cytovale is the maker of the AI ​​tool IntelliSep, which specifically diagnoses sepsis, which is said to be common, costly and difficult to diagnose.

“The conversation is really about clinical operations and the financial benefits to hospitals and health systems,” Shah said when asked about the health benefits of AI tools like IntelliSep.

“One of the things we were able to report last year was that the length of stay for every patient tested with IntelliSep was shortened by more than a day,” said Shah.

“This is the result of the doctor and providers being able to see the correct diagnosis from the first minute of the patient’s visit and has dramatically changed their treatment pathways,” he added.

“The long-term effects of sepsis are really significant,” Shah said. “Providing patients with rapid, aggressive care improves their long-term cost outcomes.”

The Healthcare Summit is an annual event sponsored by Forbes that features leaders of the country’s $4 trillion healthcare industry.

AI “is a powerful and disruptive area of ​​computer science with the potential to fundamentally transform the practice of medicine and health care,” the National Institutes of Health reported in 2021.

AI can help healthcare systems around the world achieve the four-part goal of improving population health, patient care, caregiver experiences, and reducing healthcare costs.

“Aging populations, increasing chronic disease burdens, and rising healthcare costs worldwide challenge governments, payers, regulators, and providers to innovate and transform healthcare delivery models,” the NIH said.

The recent COVID-19 pandemic has also highlighted shortages in the available healthcare workforce and inequities in access to medical care, which the NIH says could be mitigated by AI.

“The use of technology and artificial intelligence in healthcare has the potential to address some of these supply and demand challenges,” the NIH said.

President Joe Biden agrees, issuing an executive order last year requiring the federal government to “prioritize generative AI and other critical and emerging technologies” to accelerate their responsible deployment in the nation’s health systems and other industries.

“AI holds extraordinary potential, both promising and dangerous,” Biden said in the executive order.

“Responsible use of AI has the potential to help solve pressing challenges while making our world more prosperous, productive, innovative and secure,” Biden said. “At the same time, irresponsible use could worsen societal harm.”

He said: “To harness AI for good and realize its countless benefits, its significant risks must be mitigated.”

Mitigating the risks requires “a whole-of-society effort that includes government, the private sector, academia and civil society,” Biden said.

The health summit fits into the context of Biden’s executive order.

“The AI ​​revolution is opening up new opportunities to discover medications, personalize medications, and even manage a doctor’s paperwork,” said Healthcare Summit organizers.

The annual invitation-only event at NYU Langone Health’s Murphy Alumni Hall is the 13th that Forbes has hosted.