Living on the Edge Part 1Living on the Edge Part 1 https://www.braveheart.life/wp-content/themes/corpus/images/empty/thumbnail.jpg 150 150 Ted McAleer Ted McAleer https://secure.gravatar.com/avatar/106cb08d3c1a2ee20263bbcdc3312dcf?s=96&d=mm&r=g
Want to save FOUR BILLION DOLLARS? In 2019, United Health Group reported they had studied the potential savings of administering specialty drugs in the “right setting”. The “right setting” meant in the home or in a physician’s office rather than a hospital or infusion center. Their conclusion: $4,000,000,000 in potential savings. Additional benefits include an improvement in the patient’s physical and mental well-being by moving treatment to the home. That’s a win!
It’s data like this that has payers considering how to further reach people in their home and still collect enough information to accurately assess their wellness. Payers like Humana are mailing out “care packages” to proactively test for diseases like colon cancer. And now, there is a push by payers to determine how they will manage the growing need for biometric data collected in the home.
At BraveHeart, we think it’s time for payers to Live on the Edge. BraveHeart has developed the only wearable patch that is designed with an integrated neural network chip to enables Edge Computing. That means more data can be processed on the patch, and lightning-fast speeds are possible. It also means that there are 3 points of insertion for machine learning algorithms in the BraveHeart platform: on the device; in the app; and in the cloud. For payers, this means unprecedented ability to develop their Artificial Intelligence Universe.
According to PwC, Artificial Intelligence will drive of an estimated 14% increase to the global GDP in 2030 (a gain of over $15 trillion with productivity and personalization improvements). Gerard Verweij, Global Data & Analytics Leader, PwC, notes: “No sector or business is in any way immune from the impact of AI. The impact on productivity alone could be competitively transformational and even disruptive. Businesses that fail to apply AI, could quickly find themselves being undercut on turnaround times as well as costs and experience, and may lose a significant amount of their market share as a result.”
Payers are interested in population health management – meaning stratifying their risk among the continuum of patients’ needs from those who require significant care to those who are healthy. And the best way to manage that risk is to ensure patients are as healthy as possible. AI is enabling a powerful shift towards keeping patients healthy. AI Evangelist and Director of Research for 3M Modal, Juggy Jagannathan, Ph.D., explained to Medtech Intelligence: “We don’t have a system of “health care,” but rather a system of “sick care”— we care for people when they’re sick, instead of helping them stay healthy. These (AI) technologies will hopefully flip this paradigm, so the focus is on prevention and health, and ensuring people are doing the right thing for their own health.”
This is why we think it’s time for payers to Live on the Edge. Partnering with BraveHeart makes that possible.
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