EXL’s Post

Our thoughts on Gen AI as the catalyst to address the challenges of payer-provider disconnect and maximize the value potential of vertically integrated healthcare enterprises..! Rohan Kulkarni Saurabh Gupta Patricia Birch Simone Rodriguez Thanks to Ravi Kumar S Surya Gummadi and Phil Fersht in enabling and supporting this research

According to a new Forrester Consulting report commissioned by EXL, 75% of #Healthcare leaders say that implementing #GenAI within their organization is a high priority. So, what will it take to shift from experimentation to execution? In the report, you'll learn how organizations work with genAI across the board, including investment, strategy and planning, key enablers, use cases, data management, and more. Access the report in the comments below. 

Generative AI represents a massive opportunity for Healthcare orgs, but it can also be a significant source of risk. We found in this project that it's incredibly important for healthcare leaders to start with a solid foundation of data management and insights, rather than 'skipping ahead' to the external use cases driving so much of the genAI conversation today. Check out what we learned!

Market access remains the most dynamic segment of the healthcare industry, and two trends are top of mind when I think of the changes that we are seeing throughout this year..... https://lnkd.in/gGAc_aKW Like most industries, generative AI is bringing transformations in the form of more efficient and comprehensive data analysis. The capacity for greater data analysis in market access means greater market insights off which we can determine more realistic understandings of how pricing, reimbursements, and medication access are affecting one another. Health equity is also on the forefront this year. As health equity is a growing conversation across healthcare, it is of particular importance to market access. With this, SDoH is becoming an increasingly more popular and necessary element of market access strategies. #MarketAccess #Healthcare #HealthEquity #GenAI

A Field Guide For Payer Executives To Evaluate GenAI Solutions Generative AI technology (GenAI) is making its impact in the healthcare sector, specifically in utilization management and prior authorization (UM and PA). Payers are moving to embrace GenAI to increase operations efficiency, support decisions and ultimately improve patient experiences. In a recent survey, Bain & Company found that three out of four health system executives "believe generative AI has reached a turning point in its ability to reshape the industry." Major payers, such as Aetna, a CVS Health Company, are already using GenAI to make their health plans more efficient. Read the full article written by Jie Sun, co-founder and COO at basys.ai: https://lnkd.in/dWN7Tmr8 #genAI #healthtech #payer #insurance #innovation #priorautorization #wearenina

Great call - how can we help local #healthcare companies accelerate growth & profitability with our #ArtificialIntelligence / #GenerativeAI capabilities. Time to show what's really possible with #AIinnovation ! #innovation #disruption #GenAI #LLM #datadriven

💡AI's Big Opportunity for Payers It has the potential to significantly reduce costs and boost revenue for health payers, but many have yet to leverage these benefits. Key Takeaways: ✅ Cost Reduction: AI can cut administrative costs by 13-25% and medical costs by 5-11%. ✅ Revenue Increase: Implementing AI can increase revenue by 3-12%. Market Pressures: Payers face challenges from high medical service utilization and cost negotiations. ✅ Medicare Advantage: Reimbursement rates are under significant strain. ✅ Successful Adoption: Effective AI integration requires addressing six key areas, including technology and data management. Incremental Savings: Gradual adoption will result in only minimal savings. Why it Matters: 💪🏼 For health payers, adopting AI is crucial to managing escalating costs and enhancing efficiency, ensuring competitiveness in a challenging economic landscape. Learn more - https://lnkd.in/gpgG-cy2 -- #aihealthcare #healthcare #artificialintelligence #digitalhealth #ai #health #telemedicine #machinelearning #innovation #technology #aihealth #startup #healthtech #manaoorumanaarogyam #weinnovate #qualityhealth #ruralindia #indianhealthcare #awarenesscampaign #firstcontactclinic #qualityhealthcare #pharmd #medtech #covid #patientcare #medicine #clinicalpharmacist #healthylifestyle #indianpharmd #cancer

Getting ready to give a weekend keynote to a large healthcare association's members and their board of directors. The topic: How #AI is transforming their industry Rarely have I seen a new tech so quickly reach the core of what most orgs do. #disruption #digitaltransformation #GenAI #healthcare #LLMs #knowledgemanagement Constellation Research, Inc.

One of the weirdest things in #healthcare is the disconnect between information, motivation, and time. The people that have the most information have the least time - physicians. The people with the highest motivation and time have the least information - patients. It seems very obvious that empowering patients could really help move things forward. So here a great story from #PatientsUseAI where a father of two children with rare diseases shares his story and challenges of navigating information gathering and sharing while taking advantage of #AI to understand and participate more. "When patients and caregivers aggregate and grant access, AI can help: medically illiterate consumers begin to understand, empower providers to perform more effectively, recommend diagnoses and prescribe treatment from an individual LHR, and 10x, 100x, 1,000x... research advancements for rare/undiagnosed diseases." An excellent read for everyone who looks to transforming healthcare!