Increase your Revenue up to 8.0x

What is my ROI for Remote Patient Monitoring?

Artificial Intelligence (AI) is the instrument that is on the brink of revolutionizing the future. This instrument is profiting and improving the economy, especially the healthcare industry. Artificial Intelligence in the healthcare industry entails that information is utilized productively through machine learning algorithms to generate better patient and clinical outcomes. These substantial amounts of data are generated from medical tests’ results, IoMT-enabled (Internet of Medical Things) devices, and electronic medical records (EMR).

The real value of AI in biotech and healthcare, lies in its magnified prediction and decision-making qualities and automatic processes, ensuring precision, concise and reliable results. The most common AI utilization in healthcare involves robot-assisted surgery, digitized nursing assistants, a decrease in dosage errors, etc. These AI services are forecasted to annually save over $150 billion for the healthcare market by 2026.

Popular applications

  1. Organizing Medical Information and Patient’s Records 

In the healthcare industry, large amounts of data are generated. This data varies from patients’ records to clinical trials and experimental research. The first step that needs to be achieved is accumulating, interpreting, and assessing information such as historical medical records. Data management through AI applications obtain, store, track, and assess data to provide timely and precise results and predictions.

  1. Performing Monotonous and Tedious Tasks

The medical industry goes beyond clinicians, surgeons, and medical practitioners. There are finance teams, managerial staff, Information Technology (IT) groups, and data analysis teams. Their work includes interpreting tests, X-Rays, CT (computed tomography) scans, data entry, and additional routine jobs that can be accomplished rapidly and more accurately by AI machines, such as robots. This also allows healthcare personnel to focus on other tasks and jobs.

  1. Treatment Design

Artificial intelligence applications have modified virtual care and the methods used to diagnose and treat a patient’s condition. The systems examine and evaluate information – remarks, memos, and reports from a patient’s documents, medical data, additional research, and clinical expert advice – to assist in choosing the most suitable, custom-tailored, and personalized medication and treatment route.

  1. The Artificially Intelligent Doctor 

Nowadays digital consultations are on the rise with virtual consultants and physicians. Applications such as Babylon constructed an AI network that can competently and productively read, discern and acquire knowledge from anonymized, consolidated and consented medical care data, patient’s medical history, and the conference notes that physicians make during checkups. Their supplementary pack of AI tools can utilize this data to improve quick reasoning and decision-making skills about the origination of symptoms and illnesses, triage, prognosis, predictions of healthcare outcomes, and patterns in the future. The symptoms are recorded in the application by the patient through audio and speech recognition to correlate and distinguish against a network of illnesses, and then the next step is recommended, just like a medical practitioner would do so in a physical setting.

  1. Virtual Nurses 

Through telehealth programs, remote patient monitoring has become convenient, widespread, and easily available to all. With these telehealth services, AI has developed digital nurse services. The startup company, Sense.ly has a multilingual healthcare platform that has invented a digital nurse to boost the support and comfort of patients, monitor their vital signs and condition, and follow up with medication and therapy. By employing Machine-learning algorithms, patients with chronic diseases can have their pain managed and assessed, while fundamental healthcare information and guidance is disseminated for parents.

  1. Treatment Management Systems 

The AiCure app was built to regulate the use of medication and medical adherence by a patient. Video capturing technology is harnessed by collaborating with the camera of a smart device with AI to freely verify that patients are adhering to their medication schedules, and encourages them to manage their condition. This service accurately corroborates that participants in clinical and experimental trials are taking the correct drugs in suitable doses while collecting beneficial behavioral and biological data.

  1. Drug Creation

Formulating drugs and medicines via clinical examinations is a prolonged, time-consuming, and expensive process. This procedure can be sped up more productively and cost-efficiently. Through Atomwise, an Artificial Intelligence program for Drug Discovery, medicines, and drugs could be scanned, altered, and remodified to combat the Ebola Virus disease. The strategy found two drugs that may decrease Ebola infectivity in a day, compared to data analysis by human beings that would take up several months or years. This difference entailed that with finance and time saved, countless lives are saved too!

  1. Accurate Medicine 

With the assistance of AI tools, physical body scans can identify chronic diseases, such as cancer and vascular illnesses promptly and anticipate the health barriers and issues people might encounter depending on their genes.

  1. Remote and physical Healthcare regulation

Remote patient monitoring tools are powered with Artificial Intelligence such as portable health devices – FitBit, Apple Watches, and others – that monitor pulse rate and activity levels. SenSights by LocateMotion is a device-agnostic system, with protected and smart responses. This platform is virtually advanced and is a personalized emergency reaction system constructed with medical reminders and alarms with fall detection and GPS technology for older adults who may be susceptible to collapses or wandering off.

  1. Healthcare System Analysis

Vektis Intelligence, A Dutch Company employs AI tools to examine information to emphasize errors in therapies and treatments, workflow incompetence, and assists in reducing exacerbation, hospitalization, and readmission rates.

Which Corporations have remodeled the AI landscape? 

Corporations encourage innovation. Innovation encourages the virtual workforce of AI. The workforce saves lives. Companies such as Google Health merged with DeepMind to manufacture products that lay the foundation of healthcare teams and enhance patient and clinical outcomes. These companies are discovering the capabilities of A.I.’s to assist in cancer diagnosis, foreseeing patient outcomes, preventing blindness, identifying breast cancer, and more.

The health department of IBM, Watson Health, connects stakeholders in the healthcare industry from consumers to health care providers, providing AI-based technology. Oncora Medical strives to support cancer exploration and medication, especially in radiation therapy. The firm has built a data analytics program that aids physicians design sound radiation medication and therapy agendas for patients.

Babylon Health has introduced patient-centered remote medical consultation services to Rwanda and cities in Britain, with proposals to initiate the program in China, the USA, and the Middle East. Their smartphone apps are powered with Artificial Intelligence technology and question consumers about their grievances and connect them to an appropriate medical practitioner.

Artificial Intelligence is the future. Its purpose is not to make physicians redundant, but rather to empower the medical care sector by allowing all stakeholders to make informed and accurate choices, and prevent the deaths of countless lives.

Kelton High Kelton High is a Social Sciences undergraduate who majored in International Relations, with a budding interest in qualitative research. He has previously worked at Transparency International.