The healthcare industry is one of the biggest and complex economies of now. People are spending far more on the healthcare sector. They are willing to pay almost any price for treatment allowing many companies in. The healthcare sector ranges from research to manufacturing to facilities management.
There are drug manufacturers engaged in researching and developing new drugs and treatment methods. Also, pharmaceuticals are focusing on manufacturing and marketing an existing portfolio of a drug. Apart from this, there are medical equipment manufacturers, healthcare companies who provides health insurance policies, and healthcare facilitators like hospitals, clinic, and laboratories. These firms actually work as an industry making remarkable revenue.
The healthcare sector is being transformed by the ability to record massive amounts of information regarding individual patients. The enormity of which makes it impossible for humans to handle. The artificial intelligence (AI or machine learning)healthcare facilities play a crucial role here. Machine learning can be used in solving issues in healthcare delivery. Some of them are,
• predicting the risk of readmission for the chronically ill patient. Identifying such patients can help in providing intensive care after discharging and hence lowering the chances of readmission.
• assisting with the decision about the mode of treatment and understanding the condition of the patient.
• identifying diseases by classifying imageries such as scans.
• finding the combination of drugs that can be dangerous when taken together.
• improving clinical documentation
• robotic surgery which allows the surgeon to manipulate adept robotic limbs to perform surgeries.
All these are creating better healthcare outcomes for patients. Also, there are applications which are gaining momentum with funding and research. Personalized medicine, automatic treatment recommendation, and autonomous robotic surgery come under this list.
There is no doubt that AI is revolutionizing the healthcare industry by providing not only the healthcare products but also with enriched customer experience. They offer improved customer experience through customer behavior analytics with data sources. Health and life insurers are collecting data from fitness devices and are classifying customers for certain wellness programs or policy discounts. In all these applications machine learning is acting from behind as a speed, accuracy and efficiency enabler.