Question: After my husband receives his annual review and cost-of-living raise, he will be in a new pay bracket. When this happens, the cost of his health insurance will increase as well -- way beyond the raise he would receive -- so he will be bringing home significantly less in his paycheck. His coverage and benefits will not change. Getting a raise is actually going to cost us money! Answer: As healthcare costs have risen in the last two decades, more employers have adopted a "the more you make, the more you pay" approach to healthcare coverage, says Gary Kushner, president of Michigan-based human resources consulting and benefits administration firm Kushner & Co.
Healthcare is drowning in data. An article by CIO.com outlines How CIOs Can Prepare for Healthcare'Data Tsunami.' Digitization of healthcare information, EHR systems, precision and personalized medicine, health information exchange, consumer health, Internet of Medical Things (IoMT), and other major trends affecting healthcare are accelerating this data growth rate. Artificial Intelligence (AI) and Machine Learning (ML) are powerful tools that empower healthcare organizations to process the tsunami of healthcare data in near real time, maximize the value of this data, and delivering actionable insights near real-time insights that in turn enable healthcare to maximize the Quadruple Aim Objectives of improving patient outcomes, reducing healthcare costs, and improving the experiences of both patients and healthcare professionals. Increasingly healthcare organizations run AI / ML workloads in the cloud to reduce costs, and improve security, agility, and scalability. Clinician burnout is a major concern across healthcare providers with 42 percent of physicians indicating burnout in a recent research study by Medscape, and their job is the major lifestyle factor, with too many bureaucratic tasks (for example charting, paperwork) cited as the major task factor.
Google has been working on entering the healthcare industry for some time. Through its cloud genomics and API, Google has made progress as it delves into healthcare. AI research, however, continues on its end to determine how the tech giant can have the greatest positive impact in the healthcare industry.
Most of us are aware that advanced analytics and AI can help doctors diagnose disease and treat patients better. An area of decision support that's been neglected, however, is healthcare benefits. This is unfortunate because benefits decisions can have serious financial and wellness consequences for every employer and its employees. Indeed, a typical family of four spends an average of $22,030 on healthcare annually, $3,600 of that in out-of-pocket expenses. Healthcare plans are complex, making it a frustrating experience to understand and navigate plan choices.