Broader adoption of AI could save $16 billion in healthcare costs due to dosage errors
The advent of Artificial Intelligence (AI) has triggered massive transformations across industries. The health sector is no exception, and in fact, is a field where AI is already demonstrating its enormous potential. Specifically, AI has shown immense promise in medication management. Medication management is an area characterized by complexity, human error, and inefficiency. By integrating AI, healthcare providers can make medication management substantially more efficient and safe. We delve into how AI can revolutionize medication management and enhance health outcomes for patients and reduce total cost of care for healthcare organizations.
Reducing Medication Related Errors:
Unfortunately, prescription errors are not uncommon in healthcare, leading to adverse events and potentially tragic outcomes. AI has the potential to drastically minimize such errors. Machine learning algorithms can review and analyze vast amounts of data, identify patterns, and predict possible drug interactions or allergies based on a patient’s health history. This automated and efficient review process reduces the risk of adverse drug events, ensuring more accurate and personalized medication management.
Improving Medication Adherence:
Non-adherence to medication regimens can lead to treatment failure and increased healthcare costs. Often, patients struggle with following the prescribed schedules due to the complexity of dosage instructions or simply forgetting. AI-powered applications can provide reminders, simplify dosage instructions, and even track medication intake, helping to significantly boost adherence rates.
Streamlining the Supply Chain:
AI can play a pivotal role in managing the pharmacy supply chain. Through predictive analytics, AI can anticipate demand for specific medications, reducing shortages or overstock situations. Additionally, AI can detect anomalies in the supply chain, such as counterfeit drugs, thus ensuring that patients receive genuine, effective medications.
Supporting Personalized Medicine:
Machine learning algorithms that leverage patient data, such as genetic information, lifestyle, and disease history, can support the creation of highly personalized medication plans. Such personalization can increase the effectiveness of treatment and potentially reduce side effects.