Thoughts on use of AI and Blockchain–Headlines in Hospitals-USA Q1/2020
In the Hospital world, 5 top priorities for AI include: Using EHR data to predict risk, revolutionizing clinical decisions at the bedside, its application in radiology, managing population health and bringing intelligence and accuracy as well as protection to medical devices. The challenges however remain- Uncertain ROI, and ownership at the top of organizations. Many exec roles are involved, but who owns it- The CEO, CIO, CFO, COO or CMO? Today in the States, it’s the CIO who generally oversees AI as they “own the data”…Last year Hospitals reported in the US that they spent anywhere between $1M$-10M$ on AI..mostly on AI-based apps.
-There is some talk that Blockchain will seriously impact two areas in Healthcare- a potential interoperability layer that creates a secure and transparent link between Patients and Providers. Other areas of application include- applying it to the Biopharma supply chain to drive efficiency as well as giving patients more control over who has access to their personal data
And where are the Tech players headed in Healthcare, as we start 2020?
- Clearly Amazon, Microsoft and Google have begun to offer cloud computing space
- Wearables: Apple has the lead, but Google just purchased Fit Bit.
- Into Telemedicine? Keep an eye out for what Smart phone manufacturers will do this year?
- Lastly, Facebook announced a new tool called “Prevention Health”, Alibaba spent over a 1B$ on a Medical Examination Chain called Meinian OneHealth, Microsoft entered a formal partnership with Novartis using AI in Drug Discovery, while Google entered a partnership with the Mayo Clinic and the British National Health Service, lastly Apple continues to forge ahead from Data Generation and Storage, to Health Applications and ultimately Health Services??? Think Telemed, Health Coaching and the use of chatbots… More to come…
Managing Director -Healthcare
Horton International-North America