Mostly used to deal with the complexity and exponential growth of health care patient data (including genomics data, electronic medical records, and information from monitoring devices, such as pacemakers and wearable.) Real-world benefits are diagnosing disease earlier with greater accuracy, automated disease prediction, personalization of treatment pathways, which promise to ensure higher profitability and sustain competitive advantage for payers, providers, and pharmaceutical enterprises. AI technologies are having a tremendous impact on labor, a substantial line item in healthcare. AI is used in contact centers, for payment activities, medical chart reviews and it can help patients take part in self-service. Deep learning applications in digital pathology can analyze massive data sets aimed at supporting the detection of specific cancer types and guide treatment decisions.
AI will improve your master data management initiatives
Information systems have increased significantly in efficiency, agility and accuracy because of artificial intelligence. It has the ability to develop processes that allow for the seamless collection, coordination, and retrieval of data. In this sense, it proves its ability to improve master data management initiatives since having a systematic, centralized system will rely on intelligent, timely and actionable data. Businesses that lead the race for adopting AI for master data management will not only see immediate results but will also maintain an edge over businesses who don’t in the future.
In the future, distributed ledger technology, such as blockchain, will be an important part of healthcare payments and identity management. Healthcare enterprises can reduce waste, save costs and increase the quality of care by using Blockchain technologies to create a trusted set of data so that people can act on the information rather than having to go back to the source of truth to verify its authenticity. This will also be a vital component in Master Data Management initiatives. Blockchain technologies show great promise for qualifying individuals for insurance benefits, identifying patient payment obligations and credentialing providers, rather than clinicians having to go through a similar process across multiple care settings.
Technology can introduce new business models and improve care coordination. Blockchain can be used to address key challenges such as master data management, cybersecurity threats and offers growth opportunities in precision medicine and value-based care.