Fabio Ynoe de Moraes: Shocking News and Room for Improvement in Healthcare
Fabio Ynoe de Moraes shared on LinkedIn:
“Shocking News and Room for Improvement in Healthcare:
In 2022, health spending in the U.S. soared to $4.5 trillion, with billions wasted annually. Healthcare lags behind nearly all other industries in AI adoption, primarily due to data issues. The sector produces 30% of the world’s annual data, but 80% of it is unstructured, as per a Deloitte report.
AI investments in healthcare should be concentrated in three areas: early-stage clinical trials, clinical diagnosis, and back-office tasks. ‘Today we are a sick care industry’.
Can generative AI help us maintain health and intervene before illness strikes? The solution lies in creating the right data. With a staggering 90% failure rate in clinical drug development, startups are partnering with pharmaceutical and biotech companies to influence drug development decisions. AI can optimize treatment mixes and doses in clinical trials.
Natural language processing and machine learning are making strides in healthcare, from virtual physician assistants to clinical trial patient recruitment. According to Deloitte, 75% of leading healthcare companies are experimenting with generative AI or scaling it across their businesses.
However, significant barriers remain. Healthcare costs continue to rise while life expectancy in the U.S. declines. Clinician burnout and labor shortages persist among doctors and nurses. Profits are under pressure from rising operational costs and shrinking reimbursement rates. There is a pressing need to address these challenges and fully leverage AI’s potential to transform healthcare for the better. But we are still far from a generalized solution!
Let’s collaborate to harness AI and revolutionize healthcare. Join the conversation, share your insights, and be part of the solution. Together, we can create a healthier future.”
Source: Dr. Fabio Ynoe de Moraes/LinkedIn
Dr. Fabio Ynoe de Moraes, MD, PhD, MBA, is an Associate Professor and clinical investigator in radiation oncology and global oncology at Queen’s University and Kingston Health Sciences Centre in Kingston, Canada. He has worked with institutions like the Hospital Sírio-Libanês, Princess Margaret Cancer Centre, and Memorial Sloan Kettering Cancer Centre.