Why healthcare services struggle to count the cost and success of AI
Traditional financial metrics cannot fully capture complexity of systems and operations in the sector
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ARTIFICIAL intelligence-deployment within the healthcare industry is now at a faster 2.2 times rate compared with the broader economy in the US, said venture capital firm Menlo Ventures. Health systems are leading the adoption.
Despite having a slower start compared with other sectors, healthcare and biotech companies are beginning to embrace AI, with software such as OpenEvidence for evidence-based medicine, Abridge for ambient clinical documentation and Tempus AI that offers precision medicine solutions.
Hospital chief financial officers (CFOs) are being confronted, however, with the broader question beyond massive capital expenditure figures.
