GenAI in Healthcare

In the last half-year, we've seen big improvements in the use of Generative Artificial Intelligence (GenAI) in healthcare. It's changing many parts of the healthcare field and making care better. Let's look at the parts that are changing the most.

Big Changes in Healthcare

• 1. Drug Discovery: GenAI has facilitated the prediction of drug interactions, effects, and side effects, thereby expediting the process of drug discovery.
• 2. Medical Imaging: The use of AI algorithms for analyzing medical imaging data has proven crucial in disease detection and treatment planning.
• 3. Creating Realistic and Adaptive Patient Models: GenAI models are now able to mimic patient physiology and predict disease progression more accurately.
• 4. Diagnosis Assistance: AI tools are being used to assist clinicians in diagnosing conditions by analyzing patient data and highlighting abnormalities.
• 5. Healthcare Analytics & Data Management: GenAI enables the efficient collection and interpretation of vast amounts of healthcare data, providing valuable insights and promoting more informed decision-making.
• 6. Care Coordination: GenAI tools have improved communication between healthcare professionals, resulting in better-coordinated care for patients.
• 7. Revenue Capture: AI is assisting in enhancing revenue capture through more accurate billing and improved resource allocation.

As we see more benefits from GenAI, lots of companies are starting to use it in healthcare.

Who's Using GenAI

We see three main categories of GenAI use in healthcare: Medical LLMs, Support Products for Healthcare Workers, and Support Products for Patients.

This infographic is very helpful when looking more broadly.

Medical LLMs

Several companies, like HippocraticAI, Google Med PALM, and BioGPT, are making AGI for healthcare. Their goal is to create Large Language Models (LLM) for specific healthcare uses.

Support Products for Healthcare Workers

Some companies, like Abridge, Nabla, and Cerner Enviza, are making products mainly using OpenAI’s GPT-4. These products are designed to help healthcare workers with things like medical imaging, diagnosing, note-taking, patient care, and drug research.

Support Products for Patients

Some products need a doctor's help, and some don't. Companies like AI HealthMind and SymptomChecker give patients more information about their diagnosis or symptoms. They're like an "AI second opinion" for medical diagnoses.

Other companies, like Lirio, use AI to give more support to their patients, working alongside healthcare professionals.

What's Coming Next

GenAI is mainly used to help healthcare workers. It does the repetitive or boring jobs and lowers the chance of making mistakes. Because every healthcare need is different, GenAI can be tailored to fit specific tasks or specialties. This makes it even more useful.

Adding GenAI into healthcare is exciting but not easy because healthcare is complex. But healthcare workers need these tools because their workload is growing and they have less time. GenAI can help them work better and faster, and make better decisions, improving patient care.

The Future of GenAI in Healthcare

As AI continues to grow in healthcare, we can expect more new ideas. There will be new words that healthcare workers use, which could make it harder for patients and others to understand.

Our company is solving this problem by giving patients and non-medical people smart glossaries to help them understand healthcare better. This is important because about 36% of Americans have basic or below basic health knowledge. We think this will make a big difference.

The rise of GenAI in healthcare points to a promising future. It could improve health knowledge, change patient care, make processes smoother, and make health outcomes better. For investors and founders, now is the time to join this revolution and help shape a future where GenAI is a key part of healthcare.