🌞 US First: AI Stethoscope

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Welcome to your briefing:

• AI ROUNDUP: OpenAI publishes Elon Musk’s emails

• INDUSTRY ROUNDUP: Patients or payroll? US healthcare hack creates hard choices

• WELLNESS BYTES: Can you beat your genetics with lifestyle changes?

• INSIGHTS CORNER: Leader Spotlight: Amber Nigam, CEO & Co-Founder, Basys.ai

• TRIVIA: What is the projected number of global cancer cases by the year 2040, signaling an urgent need for innovative healthcare solutions?

AI ROUNDUP

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• OpenAI publishes Elon Musk’s emails (Read More)

• NCH Health: First in U.S. to use AI stethoscope (Read More)

• How prior authorization reforms can help value-based care (Read More)

• Microsoft engineer says company asked him to delete an alarming discovery (Read More)

• 4 near-term AI predictions from ViVE (Read More)

• Artificial Intelligence usage grows at Central Florida hospitals (Read More)

• AI that knows how depression looks (Read More)

• Harvard Medical School dean announces winners of inaugural AI grants (Read More)

• EY: How to build a foundation in AI to accelerate health transformation (Read More)

INDUSTRY ROUNDUP

• In State of the Union address, Biden to urge Congress to pass measures to lower health care costs (Read More)

• Patients or payroll? US healthcare hack creates hard choices (Read More)

• Elevance gains $190M on revised MA star ratings (Read More)

• Federal regulators, clinicians make their case against private equity in healthcare (Read More)

• Hospitals and PBMs seem to have dodged big federal reforms — for now (Read More)

WELLNESS BYTES

• Can you beat your genetics with lifestyle changes? (Read More)

• 5 doctors and nutritionists share the foods they eat every day for brain health, longevity, and overall wellness (Read More)

• Bryan Johnson, the tech founder spending millions to be 18 again, says his goal is to make death optional (Read More)

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INSIGHTS CORNER

LEADER SPOTLIGHT

What initially inspired the creation of Basys.ai, and how has that vision adapted as the company has expanded?

Amber Nigam and Jie Sun established Basys while they were students at the Harvard Chan School of Public Health. The inspiration for founding Basys stemmed from Nigam's personal experience of caring for his father, who had grappled with unmanaged diabetes for nearly 25 years. Their vision was to create a solution that would help individuals like Nigam's father access healthcare resources tailored to their unique needs. As their time at Harvard concluded, Nigam and Sun not only secured their first client but also bootstrapped the company until they successfully raised over $2.4 million in pre-seed funding in the summer of 2023.

Today, Basys actively collaborates with both national and regional health plans as it works toward its mission of streamlining the prior authorization process within the U.S. healthcare system. Prior authorization entails insurance companies evaluating coverage based on medical necessity, and Basys has streamlined this process with its cutting-edge generative AI platform

How does Basys set its offerings apart in a competitive marketplace?

Basys sets itself apart in the prior authorization industry by using cutting-edge technology and cultivating strong relationships. The founders of Basys have more than two decades of expertise in healthcare machine learning, gained from institutions like Harvard and MIT. They have demonstrated strong performance on key performance indicators (KPIs) in their partnership with a regional health plan and have trained on a diverse dataset of over 10 million medical and claims records, which gives Basys unique value propositions. Furthermore, strategic investments from Mayo Clinic and Eli Lilly & Co. provide Basys with a strong network to leverage when forming relationships with healthcare organizations.

Given AI's potential, how does Basys maintain ethical standards in its AI deployments?

Basys has implemented training guardrails on its engine that reduce inaccuracies, account for social determinants of health, and ensure compliance with government regulations and industry quality control standards

What feedback have clients provided on the effects of Basys solutions on their business processes?

They have described the impact as overwhelmingly positive, and our largest client was satisfied with the 73% reduction in administrative expenses and 85% automation of prior authorizations that was achieved within four months of implementing our solution, with 98% clinical accuracy.

What are the critical factors payers should focus on when assessing AI solutions for automated prior authorization to make a strategic and beneficial selection?

When evaluating AI for automated prior authorization, payers should consider whether solutions have robust training guardrails in place to prioritize patient safety. Solutions should also have stringent data security measures to prevent any potential data leaks or breaches, safeguarding sensitive patient information. Lastly, a scalable infrastructure is crucial to accommodate the evolving needs of the health plan and effectively handle a growing volume of prior authorization requests. For health plan leaders interested in choosing the right AI solution for their prior authorization needs, feel free to reach out at [email protected] for an introductory call or product demo.

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More about Amber Nigam

EY SURVEY- How to provide health consumers with the access and experience they prioritize

The 2023 EY Global Consumer Health Survey reveals consumer focus on access, affordable care, and pain/anxiety relief.

Key highlights

• The research reveals that consumers show a greater inclination towards receiving healthcare in person as opposed to online, indicating the necessity for improving the virtual healthcare experience to appeal to various consumer groups.

• Ease of access to healthcare services, availability, and their contribution to community health improvement are identified as the leading factors influencing healthcare service quality, as per consumer opinions.

• While consumers emphasize the significance of healthcare accessibility, it was assessed as below expectations, with a 42% satisfaction rate noted in an analysis spanning six countries.

Read More

AI TRIVIA

HEALTHCARE CONFERENCES

APRIL

• April 4-5: Community Oncology Conference (Orlando)

• April 8-11: Becker’s Hospital Review: 14th Annual Meeting (Chicago) Virtual April 16-18

• April 8-11: American Organization for Nursing Leadership Inspiring Leaders Conference (New Orleans)

• April 9-12: Business Group on Health 2024 Annual Conference (Tucson, Arizona)

• April 10-12: National Association of ACOs Spring Conference (Baltimore)

• April 12-15:  Society of Hospital Medicine (SHM) Converge Conference (San Diego)

• April 14-16: American Hospital Association Annual Meeting (Washington, D.C.)

• April 16-17: 24th Annual Employee Health Care Conference (New York City)

• April 23-26: National Association of Healthcare Access Management Annual Conference (Dallas)

• April 25-27: MGMA Focus | Financial Conference (San Diego)