The 10 Most Innovative Companies Bringing AI to Healthcare The 10 Most Innovative Companies Bringing AI to He | Page 11

The Most Innovative Companies Bringing AI to Healthcare AI & Voice Powered Virtual Nurse Assistant Exponentially Scaling Healthcare Engagement F “ “ undamentally, healthcare is broken. The phrase “we have a sick-care system, not a healthcare system” is heard quite often. And it’s true. Traditionally, healthcare has operated on a reactive health model instead of a proactive, preventative one. Most insurers and providers only proactively care for about 5 percent of the population, with a labor-intensive model, that is defined as high-risk, which is costly. In addition, traditional fee-for-service payment models have not provided any incentives to pay to manage the next 30-60 percent of the rising-risk populations. The clinical staff necessary to manage this population is at an all-time high, which is not scalable and just costs too much. This is where an AI-powered Virtual Nurse Assistant comes to the rescue. According to Accenture, virtual nurse assistant applications can potentially create $150 billion in annual savings for the U.S. healthcare economy by 2026 and growth in the AI health market is expected to reach $6.6 billion by 2021. Healthcare is at an inflection point. 85 percent of healthcare costs are spent on managing chronic conditions, mostly from seniors aging at home. Our society lives in a time when two-thirds of all people who have ever lived past the age of 65 are alive today. People are living longer than ever; with more conditions, costing much more and the results are having devastating ripple effects on families, employers, providers, payers, and society, as a whole. It has been called a Silver Tsunami and it can be society’s Achilles heel, unless we proactively do something about it. Care Angel is redefining how we care.