The healthcare industry is on the cusp of an AI revolution. While the roots of artificial intelligence in this sector trace back to the 1970s, recent advancements – particularly in generative AI tools like ChatGPT – have thrust this technology into the spotlight. No longer just a futuristic concept, AI is poised to fundamentally transform how healthcare operates, from improving clinical decision-making to streamlining administrative processes.
The emergence of generative AI tools in healthcare has fueled excitement about its possibilities but has heightened confusion with AI terms and definitions. McKinsey offers this resource to level-set on the differences between AI, machine learning, deep learning, and generative AI.
Leading this charge is Xsolis, a pioneering AI company that has been at the forefront of leveraging predictive analytics in healthcare for over a decade. Unlike many of its peers who have only recently jumped on the AI bandwagon, Xsolis was an early adopter, founding its business in 2013 with the express purpose of creating more frictionless, data-driven healthcare operations.
Through advanced machine learning and natural language processing models, Xsolis has developed an impressive suite of AI-powered solutions that generate predictive insights to optimize critical functions like utilization review, case management, and revenue cycle management. The company’s unique approach also brings together providers and payers on a single platform, accelerating alignment on medical necessity decisions.
Now, as generative AI emerges as the latest breakthrough in the evolving AI toolbox, Xsolis is poised to lead the charge in responsibly harnessing this transformative technology. With over 70 clinicians on staff, including a tenured 20-year physician as Chief Medical Officer and head of data science, the company deeply understands the practical realities of healthcare delivery. This expertise has been instrumental in ensuring Xsolis’ AI solutions not only leverage the power of data science, but also align closely with the needs of frontline providers.
What sets Xsolis apart to continue delivering solutions in these areas – no matter the emerging tool – is its deep understanding of the healthcare industry and its commitment to responsible AI development, which McKinsey says leaders should be following closely as the AI landscape will continue to rapidly evolve in the next few years. However, the rapid rise of generative AI also means the industry is navigating uncharted waters, particularly around issues of responsible development and regulation. Concerns about algorithmic bias, data privacy, and transparency must be addressed to ensure these powerful tools are deployed ethically and effectively.
Recognizing these challenges, Xsolis leadership has taken a proactive stance, engaging in critical discussions to help shape a responsible AI future. CEO Joan Butters and CMO Heather Bassett, for example, participated in the Nashville Health Care Council’s Delegation to DC in April, lending their expertise to conversations around the AI Bill of Rights and other regulatory frameworks.
This includes:
- Ensuring the right to safe and effective systems
- Protections against discrimination by algorithms
- Protection against abusive data practices
- The right to know that an automated system is being used
- The right to opt out
As the healthcare industry continues to grapple with a quarter-trillion dollar price tag in unnecessary administrative waste, crippling the industry’s ability to put patients first, the role of AI will only become more crucial. But Xsolis is uniquely positioned to guide its customers through this AI revolution. With its deep industry knowledge, proven track record of success, and unwavering commitment to responsible innovation, the company is poised to be a trusted partner in unlocking the full transformative potential of generative AI and beyond.
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by Joan Butters, CEO & Founder, Xsolis for MedicalEconomics.com