Description

Frost & Sullivan research has identified the core areas in which artificial intelligence (AI)-enabled healtchcare IT solutions are most relevant for hospitals, physicians, and payers.

Hospitals that have so far invested in AI-based financial solutions to automate patient access management, reimbursement eligibility matching, and computer-assisted coding are now also preferring clinical-grade AI solutions for imaging analytics, genomics profiling, clinical risk stratification, and precision medicine-based diagnosis.

Physician practices continue to focus on automated, AI-based healthcare IT solutions that perform practice management, physician scheduling, and workforce attribution. Large group practices are investing in conversational AI solutions that engage and activate patients via chatbot. AI also allows practice management software to merge with a third-party electronic medical record (EMR) or population health management platform for effective referral management and patient tracking in their journey across the care continuum.

The payer market, one of the biggest investors in AI-based healthcare IT solutions, is betting big on enterprise-grade AI platforms that predict epidemics (such as COVID-19), forecast patient volume across their member providers, authenticate reimbursement, and drive general well-being of the insured population through medication management and self-care enablement.

Other stakeholders are emerging, too. Government agencies, patients, incubators, academic medical centers, large healthcare IT vendors, and institutional investors are playing important roles in helping this technology gain traction in global healthcare market.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Koustav Chatterjee