In the rapidly transforming landscape of healthcare analytics, it is difficult to predict what a new year will bring. However, looking back, it is clear that developments around digital transformation, generative AI (Gen AI) and value-based-care (VBC) have continued to stay top of mind for both payer and provider organizations.
The past year has seen a surge in interest and investment in digital solutions that promise to streamline healthcare processes, enhance patient outcomes, and optimize resource allocation. Gen AI has emerged as a game-changer, with its ability to process and analyze vast amounts of data, identify patterns, and generate actionable insights. From simplifying complex data sets to automating administrative tasks, the applications of Gen AI are vast and varied, offering unprecedented opportunities for healthcare organizations to improve their efficiency and effectiveness. As we move into the new year, the focus on these transformative technologies will only intensify.
Here are the top 5 Milliman MedInsight blog posts of 2024 in case you missed them.
2024 Outlook: Five key analytic capabilities shaping VBC
Taking advantage of the power of artificial intelligence (AI) and machine learning to streamline large and complex data, save time and improve patient outcomes was one of five key analytic strategies for value-based care success outlined in this January 2024 blog.
“Harnessing the power of AI can significantly streamline the management of complex data sets and modeling, saving valuable time and resources that would otherwise be spent on data collection, cleansing, and organization. AI enables organizations to analyze large volumes of data rapidly and flexibly, providing quick answers to critical questions.”
Milliman MedInsight expert perspective: AI trends and predictions for payers and providers
In this blog from March 2024, Iyibo Jack, Principal and EVP of Product Development at Milliman MedInsight, discusses how healthcare organizations can harness generative AI to convert vast data into valuable assets. This blog was the second most widely read last year.
“Gen AI is going to have a significant impact on healthcare. By automating time-consuming tasks, such as note-taking and administrative duties, Gen AI can provide healthcare organizations with more time to focus on making strategic decisions that lead to improved efficiency, quality care and optimal outcomes.”
Navigating payers’ top challenges: 3 strategies for success
This April 2024 blog summarizes key themes that emerged at the Becker’s Spring Payer Issues Roundtable, including the role of Gen AI in personalizing member outreach.
“…digital transformation offers unprecedented possibilities to further personalize member outreach and establish more meaningful connections. Member challenges like app and portal fatigue have raised the need to simplify actions for individuals. With Gen AI, health plans can effectively segment their audience and customize their care delivery programs accordingly. This approach strengthens health plans’ relationships with their members and leads to improved satisfaction, engagement, and outcomes.”
Insights from AHIP 2024: Value-based care, AI, and more
In the year’s most widely read blog from June 2024, insights gathered at the AHIP 2024 meeting of health insurance industry stakeholders include that while AI will play a prominent role in shaping the future of modern healthcare, the human touch remains “irreplaceable.”
“The discussions at AHIP 2024 revealed a cautious but optimistic approach to AI integration, emphasizing that while AI will automate certain tasks, the human element remains irreplaceable in healthcare. The focus is on leveraging AI to enhance decision-making and efficiency without compromising the personal touch that is essential to patient care.”
The power of insight: Enhancing VBC contract management and outcomes with analytics
In the year’s third most popular blog, published in October 2024, Milliman MedInsight product manager, Umang Gupta, explains how healthcare organizations can leverage analytics to optimize financial performance for value-based care.
“Data analytics empowers organizations to reveal crucial insights that drive cost savings and highlight areas needing improvement. Investing in teams or solutions to unveil these insights is essential for organizations aiming to identify savings within their VBC contracts.”