target audience: TECH BUYER Publication date: May 2024 - Document type: IDC Perspective - Doc Document number: # US52025824
Payer AI Addresses Cost of Care, Too!
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Abstract
This IDC Perspective takes a look at artificial intelligence for payer cost of care. In the past decade, health insurance companies have been looking to artificial intelligence and machine learning to identify at-risk individuals and reduce rising costs in the healthcare sphere.
Consumers pay for health insurance, which includes the cost of care and related administration. While the focus of most of the AI adoption is headed toward the administrative side of the house, there are significant areas in the "cost of care" sphere that can advance with the use of AI.
"The use of AI in health insurance is quickly driving improvements and changing the relationship between payers, providers, and members. It helps enhance care, streamline the member/patient experience, and make internal operations easier," says Jeff Rivkin, research director, Payer IT Strategies at IDC Health Insights. "While there is still plenty of room to enlarge scope of this technology, it is clear that AI has a foothold in payers, both in care and administration."