AI in Healthcare
: Patient-Doctor engagement can be aided by AI for better communication, experience and impact
Singapore, 21 February 2021 – In order to transform the way healthcare is being delivered to patients, the Centre for AI Innovation (CEAI) Global @ MyFinB has produced a personalized patient care expert system to help medical institutions communicate the medical conditions and expenditure to their patients in a timely, accurate and efficient way. This system called HEAL, contains analytical modules that help interpret patient prognosis with their own personalised health roadmaps, taking into account their lifestyles, medical conditions and health metrics. Interestingly, HEAL also helps patients evaluate all available financial schemes in Singapore that subsidize their medical bills based on their socioeconomic profiles.
According to MOH Holdings, a subsidiary of the Ministry of Health in Singapore, while the country is recognised to have a good healthcare system, it is facing continual challenges such as ageing population, increasing chronic disease burden, slower workforce growth and rising healthcare costs. Against this backdrop of challenges, Singapore needs more capable healthcare talents and leaders to provide better quality, more accessible and affordable care for Singapore residents, while ensuring that its system is sustainable.
These issues are not uncommon to many other countries. According to the findings made during a forum organised by The HealthCare Executive Group (HCEG), the top global healthcare issues included but not limited to the following: costs and transparency, consumer experience, data and analytics, interoperability, holistic individual health, healthcare policy and more.
HEAL’s Head of Research, Shanker Damodaran explains, “The recent pandemic showed us the importance of technology and reinforced the critical importance to enhance doctor patient relationship to facilitate care. HEAL provides the opportunity to leverage best-in-class solutions to protect patients, clinicians, hospital leaders and patient care providers on a daily basis.”
“The HEAL platform fuses its AI technologies and understanding of clinical workflows with unmatched technologically-enabled patient profiling capabilities . This allows the medical personnel to detect and trigger appropriate remediation workflows for patient care and communicate to the patients in a timely manner through customised reporting, ” he explains.
Shanker further adds, “The greatest opportunity to drive down health costs––for payers, consumers, and system-wide––is with the payer-consumer relationship. Payers have the information consumers need to make better decisions about their health and finances––if plans can build positive and trusted relationships with their members. Once a payer proves it can make valuable and trusted recommendations, the consumer can make the decisions that will not only lead to better health outcomes but also to reduced cost of care.”
The HEAL project is part of the venture building programme managed by CEAI @ MyFinB where ideas to solve industry pain points are converted into AI-based prototypes for phased implementation. HEAL is a digital AI asset which then becomes a venture spin-off to become a start-up. This new entity is heavily supported by the Group with the injection of various resources at the initial phase: the seed funding, clientele, market access and the basic infrastructure as the starting foundation in its SEED and pre-Series A phases.
For more enquiries, please email to corpcomms@myfinb.com.