Who’s afraid of ChatGPT? AI in healthcare could save $360B

"ChatGPT, the new artificial intelligence tool, is getting the cold shoulder from educators and the coding community. But authors from McKinsey and Harvard have a more enthusiastic take on the potential of virtual assistants in healthcare.

In a new report, they estimate that various types of AI, from machine learning (ML) to natural language processing (NLP), could save the healthcare system between $200 billion to $360 billion. It could also improve patient experience and clinician satisfaction while broadening access.

ChatGPT has quickly established a name in healthcare, having passed the U.S. medical licensing exam and notched authorship credits on multiple scientific papers. Universities, researchers and publishers may be debating the place of such AI-based tools.

But healthcare experts aren’t grappling with the tech so much as salivating over how much it promises to boost productivity among payers, physicians and hospitals. One big chunk of savings could come from lowering administrative costs, estimated to account for a quarter of all health spend.

AI is well-suited to tackle such tasks, due to their manual and repetitive nature. Private payers, for instance, could leverage AI to improve claims-management processes, like auto-adjudication or prior authorization..." Lire la suite