In an industry burdened with high overheads and complex processes, AI offers significant opportunities for streamlining operations and enhancing efficiency.
One of the significant ways AI can reduce medical costs is through predictive analytics for risk stratification. AI algorithms can analyze vast amounts of patient data to identify individuals at high risk of developing chronic diseases or experiencing adverse health events.
While the potential benefits of AI in health insurance are immense, implementing AI technologies poses several challenges. These challenges must be addressed to fully leverage AI's capabilities and achieve the desired outcomes.
