Healthcare DIVE November 25, 2024
Insurers could save 20% in administrative costs and 10% in medical costs by harnessing technology, experts said during a virtual panel hosted by Healthcare Dive last week.
Payers who fully embrace artificial intelligence can expect to see significant returns on their investment in administrative and medical cost savings, experts said during a panel hosted by Healthcare Dive last week.
Extensively deploying the latest technology would be “quite transformational for the industry,” according to Jessica Lamb, a partner at consultancy McKinsey and Company. Lamb estimated an insurer that adopts AI across their entire business could lower administrative spending by at least 20% and medical costs by at least 10%.
Payers have a multitude of use cases for AI, ranging from optimizing...
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