Artificial Intelligence Provides Benefits Across the Medical Landscape
From trying to understand deductibles, copays and out-of-pocket maximums to determining what procedures and treatments your policy covers, health insurance can be frustrating, if not outright confusing. Artificial intelligence — already improving the practice of medicine — can also make health insurance less stressful by showing how all the plan benefits work together for the maximum financial protection.
AI innovation augments medical capabilities
Say “artificial intelligence”or AI, and you might picture a robot performing a series of tasks, or maybe a car navigating city streets. In reality, AI is more like a supercomputer, using robust processing systems to analyze vast amounts of data to reach a decision. And the potential benefits of AI in the healthcare system are vast, potentially even revolutionary.
Through its extensive analytic capabilities, AI can predict disease potential and develop treatment plans as a means of improving outcomes and reducing overall health costs. Recent studies demonstrate that AI can be used to detect hard-to-diagnose diseases, resulting in earlier treatment that could save lives. By providing more accurate and faster diagnoses, AI can help doctors establish the best forms of treatment and potentially save lives.
There is the potential for errors with any type of technology, and healthcare tech is no exception. But the benefits to decision-making from AI’s analytical power far outweighs any risks. AI does not replace doctors or health insurance providers, but simply augments the services they provide, helping health care professionals master the data they need to make decisions and suggest appropriate next steps.
AI ensures more precise, affordable health insurance
As AI use becomes more prevalent in the healthcare industry, insurance companies are investing in AI-based technologies to predict risk and align coverage with individual needs. The automation of manual tasks is a strategic priority for many health insurance providers. Those providers who are willing to adopt the latest technology offerings, including AI systems, do so to improve their products and better serve their customers.
AI can also serve to bring more people the improved health and financial security that comes from having health insurance. Between 2018 and 2019, approximately 15% of adults ages 19–34 were uninsured, citing cost as the primary reason for not having major medical coverage. Even for the insured, the rising cost of medical care presents issues, with 46% of adults reporting difficulty paying their out-of-pocket expenses. Artificial intelligence can reduce both individuals’ medical bills and insurers’ operating costs, making it a more viable option than government reforms to improve health insurance.
Kind Health brings AI-driven solutions to insurers and consumers
KindHealth, formed in 2015, uses AI as an insurance discovery model to provide personalized recommendations based on health history, existing insurance coverage and budget. It identifies relevant plans within the health insurance marketplace to make coverage more relevant, more affordable and more adaptable based on its analysis of your care. AI can evaluate data points and identify patterns to ensure the best consumer experience while generating a customized, comprehensive solution that serves as protection from catastrophic medical bills.
“At KindHealth, we seek to position ourselves as thought leaders in this AI-insurance arena,” said Andrew Tomasik, co-founder and chief operating officer. “Our goal is to make our customers feel comfortable and to constantly evaluate their data to ensure we provide the best coverage options to protect them against financial risk.”
To learn more about KindHealth’s discovery platform and how it can assist in your efforts to buy health insurance, visit https://www.kindhealth.co/.
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About KindHealth
KindHealth is an insurance discovery platform launched in 2015 and based in Austin, Texas, founded by entrepreneur team Albert Pomales, Andrew Tomasik, Mark Adams and John Constantine. KindHealth’s platform is powered by cutting-edge technology which recommends the best insurance plan for consumers’ needs and budget allowing KindHealth to better understand its customers and offer the right insurance plan. Additionally, KindHealth’s Marketplace Builder™ makes it simple for companies in any category — from leading technology brands to insurtech startups — to offer white-labeled digital insurance solutions to their customers. Visit https://www.kindhealth.co.
Photo credit: “artificial-intelligence-698122_1920” by alansimpsonMe is marked with Public Domain Mark 1.0.
