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What 40 Years in Healthcare Taught This Founder About AI · CareTalk: Healthcare. Unfiltered.

• 0:05
  SPEAKER_01: Well, in the larger health systems, academic medical centers, some of the premier institutions of the country are relying on Codomatrix to win.
• 0:12
  SPEAKER_01: So I guess final question, I mean, you're in this day-to-day.
• 0:16
  SPEAKER_01: There's a lot of fear about AI, there's a lot of hype about AI.
• 0:20
  SPEAKER_01: How are you feeling about whether all of this, all of the technology that's becoming available, hardware, software, utilization of it, is going to actually help us deliver better care at a lower price?
• 0:32
  SPEAKER_01: Because it's unclear to me who's going to win the land war between providers and payers.
• 0:38
  SPEAKER_02: I have to be very transparent and tell you that I've been doing this in healthcare for 40 years, and every five years there's a new wave that promises to bring the cost of healthcare down and so forth.
• 0:52
  SPEAKER_02: And until the incentives are aligned, everybody's just trying to get a piece of the growing pie.
• 1:02
  SPEAKER_02: The cost hasn't really come down.
• 1:04
  SPEAKER_02: AI has the best chance I've seen so far in the last 40 years in evening the playing field, in having the information sorted for good decision making.
• 1:20
  SPEAKER_02: Whether decision making is on the clinical side or it's on how to manage the financial aspects of healthcare, reimbursement, submission, population health, at risk, managed care, all of that, everybody will do better if the data is clearly suggesting a better approach.
• 1:43
  SPEAKER_02: For instance, payers and providers are well served if they have a common certified set of AI models that they agree it correctly read the chart and it correctly submitted claims.
• 2:01
  SPEAKER_02: That will not happen in the most expensive cases of hundreds of thousands of dollars.
• 2:06
  SPEAKER_02: Everyone will have would like to have human uh intervention of uh those things being paid rapidly.
• 2:16
  SPEAKER_02: But for 80% of the cases, you can bring the data together in a way that both parties agree.
• 2:25
  SPEAKER_02: And I don't think that's a long-term thing.
• 2:27
  SPEAKER_02: I think it's a five-year thing.
• 2:29
  SPEAKER_00: Aaron Ross Powell It sounds like a dark but promising future.
• 2:33
  SPEAKER_00: But that would that was that was actually a positive.
• 2:35
  SPEAKER_00: Is there is there is there is there worse to follow?
• 2:40
  SPEAKER_02: I I I think it's uh positive, but we can't forget two elements, and that's what I was describing as uh uh the hardest thing is adoption on both sides, providers and payers.
• 2:56
  SPEAKER_02: Change management is a very difficult thing in a bureaucracy called healthcare.
• 3:01
  SPEAKER_02: Anywhere from a small healthcare office all the way to the largest health systems.
• 3:06
  SPEAKER_02: You're dealing with people who have the knowledge to bring their worst fear to fruition of losing their job.
• 3:15
  SPEAKER_02: Whereas that's not what this is about.
• 3:18
  SPEAKER_02: This is about changing allocation of resources to the most important things as opposed to the least important, critical, uh least important but highly clerical work.
• 3:32
  SPEAKER_02: Um so how health systems adopted, how payers adopted, how we help them with transformation, I can't just show up with technology and say, this works, good luck.
• 3:44
  SPEAKER_02: Uh we need to be uh incredibly involved in the adoption of it.