01 Nov Healthcare AI Consulting: How AI & Machine Learning Will Disrupt Healthcare

The AI market is poised to make a dramatic market expansion in healthcare. The growing AI market is expected to exceed $6 billion as early as 2021. Over the next 5 years, that is an annual compounded growth rate of 40%. AI is seeing explosive growth with a great potential to improve healthcare quality and access.

What is Healthcare AI Consulting?

Healthcare AI consultants will take an overview of your business processes and advise on ways to bring in healthcare-specific Artificial Intelligence (AI) technologies to healthcare businesses, hospitals, or other healthcare settings.

Healthcare AI consulting can offer various services to help improve healthcare delivery methods, payment options, patient messaging systems and more. It’s the best way to learn about which tools are worth implementing at your institution to help make decisions or manage patient information.

AI consulting in the healthcare space can help streamline your value chain, predict strategic business outcomes, and capitalize on patterns concealed within data. By offering AI healthcare consulting services, you can adapt marketing strategies to real-time customer demand, develop lean processes to respond quickly to market changes, grow customer relationships, and reach out to patients inside and outside clinical settings.

Healthcare AI consultants can offer expertise in areas such as:

Connected systems:

Bringing together the right instruments, sensors, and communication systems to efficiently drive operations in the value chain. Real-time data will be captured to monitor competition, products, customer, and market performance to enable business leaders to make quicker and better decisions.

Machine learning:

Read trends and efficiently process data and information from patients, medical records and more. Complex data environments will become easier to understand and provide a pathway to improve processing ranging from R&D to manufacturing.

Adaptive and Autonomous Systems:

Manage an efficient production line and create self-adaptations in response to the real-time business environment. The speed at which healthcare businesses can adapt is a core competitive advantage.

Natural Language Processing (NLP) & Chatbots:

Advanced conversational technologies will help improve clinical outcomes, simplify data entry and transition away from paper-based records. NLP offers a competitive advantage for automation and streamlining operations with the use of relationship extraction, sentiment analysis, speech recognition, and chatbots designed to leverage messaging apps.

Which AI-enabled solutions are right for your institution?

Selecting the right business models and solution partners for your institution’s needs are a critical component in the success of AI-enabled solutions. This is where consulting comes in. Consultants can help you understand what problems AI-enabled solutions can help solve.

Here are a few of the most promising AI applications to enter the healthcare arena:

• Robot-assisted surgeries
• Virtual nursing assistants
• Administrative workflow assistance
• Dosage error reduction
• Cybersecurity
• Connected Machines
• Automated image diagnosis
• Clinical trial participant identifier

In this article, we will go over a few competitive advantages of why healthcare AI consulting should be on your list of services to offer your clients.

Competitive Advantage

Business activities in the healthcare sector such as marketing, customer support, supply chain management, and manufacturing are where AI-driven technologies can make a big impact.

Healthcare organizations that are willing to integrate AI will inherit valuable information from their data, gain competitive autonomy and enjoy sustainable AI-driven growth across business functions.

If you’re not already offering healthcare AI consulting as a small or medium sized consultancy, now is a good time to start. Big players in the consulting world such as Accenture, are already on board and offering AI consulting services for various industries.

Companies are looking to help them with various areas such as:

Workforce:

Amid rising labour shortages in healthcare, AI-enabled solutions offer a way to fill in the gap by giving workers and clinicians tools to help them work better.

Security:

Managing patient information in a more secure and ethical way is one of the concerns of healthcare clients today.

Connectivity:

By integrating health data across platforms, AI-enabled technology can magnify the reach of healthcare. However, as new technologies are introduced, they all need to be connected in a way that provides a seamless experience for healthcare systems.

Infrastructure and Governance:

To realize the value of AI-enabled technologies in healthcare, institutions and organizations need to be ready. Organizational structure and governance need to cultivate an AI-smart workforce and that will enhance the quality and outcome of any new systems.

Offer cost-saving solutions for your clients

According to ABI Research, AI will save the healthcare sector $52 billion US dollars in 2021. Using AI-enabled technologies will save $21 billion US dollars in North America alone. With current clients, you can offer new cost-saving solutions as AI has the capability of improving existing systems, enhancing customer experience, and automating repetitive tasks.

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Find new clients

Healthcare businesses are looking for innovative solutions to problems. As more market curiosity for AI develops, favorable literature appears, and clear trends point toward the advantages of AI integration, more and more healthcare companies will be looking to AI consulting to help make these technologies a part of their process, products, and services.

True AI solutions for healthcare require more than a single technology application or stand-alone program. In order for healthcare systems and processes to enjoy the capabilities of AI, a tailored ecosystem needs to be created for each client, business, or institution.

Healthcare AI consulting offers the knowledge to apply custom AI-solutions to a great range of situations, rather than only catering to specific challenges.

Keen to use healthcare AI solutions to put you ahead of the competition? Connect with us.