Healthcare execs are investing in, optimistic about future of AI: Optum report

Both the number of hospital executives planning on investing in artificial intelligence and the average expected size of their investments have significantly increased in just the last year, a new survey from Optum found.

The second annual "AI in Health Care" report from the OptumIQ analytics division surveyed 500 senior executives from hospitals, insurance and pharmaceutical companies, medical device-makers and other healthcare organizations. More than 60 percent reported having implemented an AI strategy at their organizations, an 88 percent increase from the 2018 survey's findings.

Across the industry, 90 percent of executives surveyed said they anticipate seeing a return on their investment in AI sooner than previously expected, with half predicting it will happen within three years. Additionally, their expected investments in the technology have increased by an average of $7.3 million since 2018.

As for where that investment will go, respondents expressed greater confidence in administrative applications of AI than clinical applications. Areas with the most potential for automation, they said, include prior authorizations, personalized patient communication, EHR management and detection of reimbursement fraud and waste.

View the full report here.

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