Role of AI in Pharma Industry

Role of AI in Pharma Industry

  1. IMPROVING PATIENT OUTCOMES WITH AI
Clinical variation management is vital in improving patient outcomes, reducing healthcare costs and handling financial risks. Its large scale application could address the enormous cost spent on procedures that don’t improve patient outcomes. Reducing clinical variation requires an analysis of massive amounts of data spread across multiple systems. Conventional analytics applications are not apt candidates for this task, but artificial intelligence is. AI with a vast amount of computational power can rapidly develop and measure adherence to highly sophisticated care process models. Flager hospitals have successfully employed an AI solution to improve care paths for pneumonia and sepsis and are on track to apply the same technology to more conditions over the coming months.
Check This Out: Top Drug Discovery and Development companies
The initial step was challenging and included pulling out data from electronic health record (EHR), enterprise data warehouse, and surgical, financial and corporate performance systems. Then the data was brought to the clinical variation management application. Understanding which variables are essential to the task was challenging. The variables include costs, length of stay (LOS), duration of the encounter, actions such as medication orders, and vital signs. The AI solution used machine learning to understand the structure of data and patterns that unveiled the best pneumonia treatment approaches. The program then showed the direct variable costs, the average length of stay, readmission rates, and mortality rates along with the statistical significance of the data.
Even without a data scientist on board hospitals can improve patient safety and outcomes, increase efficiency, and boost bottom lines. As hospitals move toward clinical risk variation must be managed, and AI solution will be the perfect way to accomplish that goal with less cost. There is a positive response primarily due to the use of hospital data with the AI program, instead of data from scientific studies. As a result, the physicians are becoming confident that the results were based on data for patients like theirs. Following the successful pilot, Flager used the AI solution to improve its sepsis COPD, and heart failure care paths.
2. ARTIFICIAL INTELLIGENCE PUSHING TELEMEDICINE IN THE RIGHT DIRECTION
Logistics is traditionally associated with the package delivery industry. It is a complicated process and companies are turning to new technologies like artificial intelligence to optimize their operations. Healthcare space can benefit from the implementation of shipping logistics. For example, a healthcare organization with multiple locations staffed with specialists and doctors who are not interchangeable and are operating under numerous scheduling constraints. This organization uses spreadsheets and ineffective planning along with the poor allocation of resources which leads to their poor utilization. This is not only wasteful but will also cost money to the organization.
Approaching telemedicine with a logistical mindset makes sense. This space is predicted to grow up to $66 billion by the end of 2021. Telemedicine came into the scenario because of the need for practitioners in remote or rural areas with a shortage of specialists. Over the years, the adoption of telemedicine has been slow owing to regulatory barriers, inconsistent coverage, and unfavorable reimbursement models. With time, these barriers have started to fall pushing the use of the model.
The most effective use of telemedicine is in the area of teleconsults where an organization can consult a remote specialist regarding an issue. Isolated patients can benefit from this solution and get better diagnosis and treatment decisions. The ability to get experts according to need across isolated geographical areas ensures patients of improved care and reduced costs.
The healthcare space is facing an issue of combinatorial explosion. This issue is mainly due to hundreds of doctors with their specialties, working at all different times of the day at various facilities. The sheer number of combinations is a challenge in matching physicians to patients. The core of this service is to create a lean network of specialists with different areas of expertise available on demand. From a mathematical point of view, it requires massive logistics to make this model efficient and effective.
Artificial intelligence (AI) can solve the combinatorial explosion. It can take massive amounts of data, understand complex constraints, and intelligently compartmentalize the time of physicians around the network for excellent logistical understanding. The real power of AI lies in its ability to scour the through all the possible doctors, facilities, schedules, space combinations, and more. So, instead of manually finding the schedules, artificial intelligence allows the computer to chart a course. Telemedicine has the potential to transform health care delivery, and this kind of proactive, pragmatic approach to telemedicine can push it in the right direction.
Check This Out: Top Genomics Companies

Comments

Post a Comment

Popular posts from this blog

Latest Trends in Pharma Industry DO NOT MISS THESE THREE ASPECTS OF PHARMACEUTICAL SUPPLY CHAIN! To overcome the challenges in the supply chain, organizations need to devise long-term strategies, giving more importance to the adoption of emerging technologies to streamline the processes and drive efficiency. For a long time, the supply chain in the pharma industry has remained adamant in its old ways. However, the globalization of drug supply and the emergence of new pharmaceutical technology have made it imperative for the supply chain organizations to overhaul their conventional approaches and incorporate innovative strategies to stay at the forefront in the market. Several organizations have taken steps to renounce the outdated supply chain networks and streamline the delivery of drugs to different parts of the world. Check This Out: Top Genomics Companies The Changing Landscape The pharmaceutical industry is struggling to keep up with other sectors in terms o
Read more

The Pharma Industry And Supply Chain

Image
THE INCREASING NEED FOR TRACEABILITY IN PHARMA SUPPLY CHAIN As the current pharma supply chain is challenged by the lack of visibility and a number of new compliance regulations, most companies seek enhanced traceability. Pharmaceutical companies must adopt tracking technology to ensure product integrity and achieve global compliance. Drug counterfeiting is a well-known and documented problem affecting human lives, but also the pharmaceutical industry reputation and ROIs. Within the United States, the FDA has enforced and implemented the Drug Supply Chain Security Act to protect consumers against counterfeit drugs. Act to protect consumers against falsified medicinal products. The Global Traceability Standard for Healthcare (GTSH) defines international process standard, explains and sets minimum requirements for all stakeholders in the healthcare supply chain. However, full implementation as a cohesive solution of global traceability standards is still in progress. Blockchain
Read more
THE ROAD TO DIGITAL TRANSFORMATION IN PHARMA AND BIOTECH Biotechnology and pharmaceutical companies operate in an intensely competitive space where bringing them to market is a tough call. Technology plays a strategic role in winning this battle and to arrive at a competitive advantage. Digital transformation allows sensors, machines, equipment, and people to collaborate while improving plant processes and the products they create. It offers new approaches for advancement instead of merely assisting traditional approaches. Genomics and personalized medicine are the newer therapeutics evolved with the adaption of digital transformation. Challenges for Digital Transformation of Pharma and Biotech Apart from operational problems, finding and gaining regulatory approvals for new drugs and scaling up from laboratory to full production are major risk points for digital transformation. Improved track-and-trace solutions are required for new regulatory challenges. For some companies
Read more