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Dive Insight:
Healthcare organizations are looking at AI tools that could boost profit margins as providers and payers navigate an increasingly challenging financial landscape, according to the Klas and Bain report, which surveyed nearly 230 industry executives.
Many providers still face workforce challenges that worsened during the COVID-19 pandemic, while bracing for a heightened number of uninsured patients due to Medicaid cuts and the expiration of more generous financial assistance for the Affordable Care Act exchanges.
Meanwhile, insurers have been managing a dogged increase in utilization, particularly in Medicare Advantage, and could face a financial hit from policy turbulence in their Medicaid and ACA plans.
“Executives want quickly scalable solutions that address key business challenges and pay for themselves with tangible results and short time-to-value windows,” Aaron Feinberg, partner in Bain & Company’s healthcare and life sciences and private equity practice, said in a statement. “This is all about the bottom line now.”