Healthcare AI Trends: The Ferrum Perspective

DomAIn Knowledge

Healthcare AI Trends: The Ferrum Perspective

We are excited for 2023 and the continued evolution of healthcare AI. Last week we explored AI trends from an industry perspective and learned the following:

  • Data privacy will continue to be an issue and focus for health systems, patients, and companies providing AI tools
  • AI will improve diagnostic processes by predicting and diagnosing diseases faster and utilizing real-time disease surveillance; this can reduce errors and save lives
  • A lack of trust in AI leads to slower adoption, explainable AI is a way to address this issue
  • We’ll see continued disruption within the healthcare industry as providers invest in technologies such as artificial intelligence (AI) and machine learning

This week’s Domain Knowledge asks the Ferrum team for their thoughts on what we can expect from healthcare AI in 2023.

Pelu Tran, Ferrum Health, Co-Founder and CEO

The widespread awareness of generative AI tools like ChatGPT and the broad consumer adoption and awareness of these tools is making healthcare executives realize they can no longer delay their AI readiness efforts.

The massive increase in vendor-caused health system cyber ransom incidents will lead health systems to lock down their PHI and demand applications that can be privately deployed into their environment rather than the vendor cloud.

Matt Martonik, Ferrum Health, Enterprise Account Executive

2023 is going to see a notable uptick in healthcare AI usage due to an increase in the transition from users largely being early adopters to those in the mainstream, combined with the democratization of (and more transparency into) many of these tools.

Deloitte survey of 220 global health care executives in mid-2022 found 85% of respondents expect their 2023 spending on AI to increase over the prior year. Combine this with the Accenture report that efficiencies created by AI tools are expected to save $150 billion annually for the healthcare economy by 2026, and it becomes clear that AI use is moving from a “nice-to-have” to an expectation.

2023 will also see more use of platforms to access AI tools. These platforms encourage the democratization of tools by allowing health organizations to mix-and-match, try multiple tools with minimal risk, and adapt with the market leaders as algorithms evolve without being held to one particular solution. In addition to democratization, because these platforms won’t need to be preferential to specific tools, they will provide unbiased transparency for users into the algorithms they are deploying. The AI industry has recently suffered from a reputation of opacity and the “AI black box”, or the feeling that how algorithms do what they do is unclear or unknowable. More data transparency around these tools for their users will continue to pull back the curtain around mysterious AI.

David Miller, Ferrum Health, Regional Vice President of Sales

In the coming year, there will be a much greater interest in utilizing a library of curated algorithms in packages or workflow solutions that focus on service lines. There is also a trend toward improving population health screening by leveraging AI to search for incidental findings in medical imaging. This use of AI will improve care by catching diseases before they become more advanced, early diagnosis means better patient outcomes.

Beyond population health screening, there is an interest in AI applications that can save radiology read time. This allows radiologists to read more imaging studies and helps reduce burnout. AI provided a second set of eyes to help review images and confirm their findings.

It’s interesting to see the alignment of trends from industry experts with those from the Ferrum team. 2023 looks to be a year of growth as AI adoption increases and health systems see the value AI can provide patients and clinicians.

Join us in the coming weeks as we further explore healthcare AI trends from the perspective of Ferrum Health’s Head of Market Development and Ferrum Health Medical Director.

As always, we’ll leave you with an invitation to learn more about the benefits of using an AI Hub to manage multiple applications across your clinical needs and offer you a personal demo of Ferrum’s platform and growing AI catalog.

If you have AI tips, suggestions, or resources, you’d like to share, leave us a note below, and please feel free to suggest topics you would like to see covered in future posts.

Kathleen Poulos

Kathleen Poulos

Kathleen is a registered nurse with a digital marketing background, a love for using technology to solve healthcare challenges and a passion for improving patient care.

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