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Leaders within the digital well being area relayed to MobiHealthNews what stood out to them in 2023 because the 12 months attracts to an finish.
Many famous the meteoric rise of genAI in 2023 and expectations of rising adoption of the know-how in 2024, emphasizing the significance of treading fastidiously because the tech is additional applied. Different stakeholders pinpointed bankruptcies and mergers and acquisitions as being noteworthy occasions.
Dr. Peter Bonis, chief medical officer at Wolters Kluwer Health
“2023 has been one other 12 months the place the thrum of existential considerations has grown a bit louder. There isn’t a scarcity of distressing matters: local weather change, international conflicts, the residue of the pandemic and considerations over the subsequent one, worsening life expectancy and toddler mortality, persistent inequity, the potential for know-how advances resulting in main workforce disruptions, and plenty of different financial and social threats.
Nonetheless, 2023 additionally bore witness to the potential for beautiful technological advances and innovation to deal with a few of these considerations and improve the prosperity and well being of individuals not solely within the U.S. however in all places. Regardless of our variations, we’re all united by our biology and humanity. This was a 12 months when AI totally entered public consciousness. The tempo of change may solely have been anticipated by devotees of science fiction. There’s an thrilling highway forward, and we will hope that we’ve the best captains and organizations to navigate via the alternatives to soundly improve all our lives.”
Matthew Stoudt, cofounder and CEO of AppliedVR
“Within the spirit of Charles Dickens, ‘It was the very best of instances, it was the worst of instances…’ with some massive ups and downs, particularly on the earth of reimbursement. Whereas we noticed some very optimistic indicators of adoption and development of digital well being applied sciences throughout the healthcare system, we additionally noticed some high-profile struggles.
For instance, on the one hand, [AppliedVR] was honored to receive a unique code and pricing dedication from CMS, which put us within the closing levels of broad reimbursement for our RelieVRx system. Then again, we noticed a major player declare bankruptcy and another that wanted to vary their GTM [go-to-market] technique as a result of an absence of reimbursement pathway via CMS. I believe this exhibits that digital well being entrepreneurs must be very conscious about how they’ll use the present system to drive disruption.”
Doug Hirsch, cofounder and chief mission officer at GoodRx
“In 2023, we noticed lots of people with good intentions attempt to enhance our damaged healthcare system. The federal government capped the worth of insulin and is within the means of negotiating model drug costs for Medicare enrollees, and a bunch of well being tech firms try to fight the burnout plaguing healthcare suppliers. The issue is, regardless of good intentions, progress is occurring too slowly.
My hope for 2024 is that the healthcare business takes our collective good intentions and turns them into tangible, swift motion. Extra business collaboration round shared objectives has the potential to really change lives.”
Neil Patel, head of recent ventures at Redesign Health
“Generative AI emerged within the public sphere with OpenAI and ChatGPT in late 2022 however began making a splash in 2023. Some thought it was one other hype cycle, however many, myself included, imagine it has the potential to be a game-changing innovation for healthcare.
Healthcare organizations starting from suppliers to pharma to payors have turn out to be early adopters of the know-how. Conversely, massive payers (e.g., UHC, Cigna) are being sued for over-reliance on AI in sure conditions, e.g., denying claims using AI.
Oracle’s acquisition of Cerner appears to have created some questions for well being programs surrounding Cerner. For example, a few of Cerner’s extra notable prospects, like Intermountain Healthcare, Boston Youngsters’s Hospital and UPMC, have switched to Epic.”
Russell Glass, CEO of Headspace Health
“In 2023, we’ve seen a major improve in the price of well being care that’s resulting in a tough take a look at well being care budgets heading into 2024. On the identical time, we’re more and more seeing how essential psychological well being is to general well being outcomes and the entire price of healthcare.
It’s clear that the expectation and wish for complete psychological well being help within the office just isn’t diminishing, and employers who need to management well being care prices must be more and more investing in these choices.”
Dr. Patrick Carroll, chief medical officer at Hims & Hers
“This 12 months, we continued to see strong adoption of telehealth from shoppers. Nevertheless, what was most notable was that buyers are more and more fascinated about personalised healthcare by way of telehealth. Merely delivering care by way of the identical approaches en masse just isn’t sufficient, in order higher know-how developments proceed to permit suppliers to personalize care, we noticed telehealth suppliers begin to roll out custom-made remedies to healthcare shoppers.”
Eran Orr, CEO of XRHealth
“The healthcare business wants to seek out methods to translate AI into new options that support remedies and scale back the burden from clinicians. In 2023, the business found the capabilities that AI has and the way we will use it, and in 2024, it must translate into actual merchandise that profit sufferers. Within the healthcare business, there’s a larger bar and the next degree of accountability with HIPAA compliance and different rules with little to no room for error–so we’ll see if AI can stay as much as the problem!”
Munjal Shah, cofounder and CEO of Hippocratic AI
“Generative AI captured the world’s creativeness this 12 months, and healthcare was no exception. Most of 2023 was targeted on creating generative AI options that aided back-office duties, like income cycle administration. Whereas these will help save payers and suppliers prices, they don’t seem to be patient-facing and therefore can’t simply change well being outcomes and inequities.”
Amit Khanna, senior vice chairman and normal supervisor of well being and life sciences at Salesforce
“Total, I noticed a number of developments that emerged throughout the healthcare ecosystem, notably:
- Suppliers are nonetheless dealing with labor shortages, and inflation is placing strain on their operational price.
- Public well being funding has elevated, and the COVID platforms are being prolonged to turn out to be public well being supply platforms.
- Worth-based care fashions are being adopted.
- Well being plans are transferring extra in the direction of member engagement.
- Digital well being funding has decreased.”
Kevin McRaith, president and CEO of Welldoc
“The current flurry of FDA approvals for GLP-1 drugs has fueled an developed give attention to weight administration. This new class of weight, weight problems and cardiometabolic administration medicine presents large alternatives to influence quick weight reduction and enhance general well being.
The decision for advancing AI with the purpose of optimizing care fashions and the care expertise, whereas prioritizing personalised care and client engagement additionally continued as key themes in 2023.”
Ann Bilew, SVP, well being and group normal supervisor, WebMD Ignite
“What a wild and loopy 12 months it was. We didn’t do something small in 2023–it appeared each transfer was massive. Main new drug launches; massive splashy bankruptcies; vital disruptions in Medicaid; thrilling, probably game-changing applied sciences; abrupt management adjustments at some massive organizations. It additionally seemed to be a ‘story of two cities’ with a few of the massive gamers discovering their footing and beginning to report optimistic development and a return to profitability whereas others proceed to report report losses.”
The HIMSS AI in Healthcare Discussion board is happening on December 14-15, 2023, in San Diego, California. Learn more and register.
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