AI in Healthcare - Healthcare is Big Business
According to a recent report by McKinsey & Company, healthcare costs now account for 17.6 percent of the GDP of the country. There is considerable success in payments, staffing, cost containment and administration.
While that is not surprising, the uptick in healthcare cost burden means that we spend $600 billion more than the expected benchmark for the wealth and size of the US. It is a huge red flag. Multiple analytics and data companies are competing in this space. Much progress is being made rapidly. Valid integration of these models into the business of healthcare will require a myriad of validation work and testing to see that the big data solutions are actually performing in way that are consistent with the goals.