AI can help slash healthcare spends by $360 billion

Artificial intelligence (AI)-based healthcare breakthroughs that support and enhance the capabilities of healthcare practitioners have now become a necessity.

- UMA KANNAN @ Bengaluru

Kalavathi G V, Executive Director & Head - Global Development Center, Siemens Healthineers, says AI has been predicted to save 5-10% of healthcare spending, which is about $200-360 billion. She told TNIE that reducing the administrative burden on frontline healthcare professionals through AI can minimize burnout and enhance retention, resulting in increased cost savings and better patient care and safety.

Siemens Healthineers has established AI expertise, future-oriented people power, vast medical data sets, and computing power needed for creating algorithm-supported healthcare solutions. "This helps health professionals implement algorithm-supported solutions to schedule appointments, manage patient health records, and clinical documentation," Kalavathi says.

Currently, AI is emerging as a significant driver of medical device innovation. As the technology has numerous uses in the medical field, it has the potential to alter critical sectors of the industry. Siemens Healthineers has been contributing to the field of AI for more than 20 years and we have what it takes to integrate AI into clinical routine, Kalavathi adds.