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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

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The river that supplies 40 million Americans is down to 23% — and about to make a $25 million bet on one fish

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Jamie Dimon said the American Dream was slipping away. JPMorgan just put $40 million on the table to fix it
TechBrainstorm AI

Healthcare executives are banking on AI to unburden doctors, make processes smoother, and save time

By
Alena Botros
Alena Botros
Former staff writer
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By
Alena Botros
Alena Botros
Former staff writer
Down Arrow Button Icon
December 9, 2024, 9:03 PM ET
Patricia Brennan, VP Science Technology, Chan Zuckerberg Initiative (left); Tilak Mandadi, EVP CVS Health (middle); Shiv Rao, CEO and Founder, Abridge (right)
Patricia Brennan, VP Science Technology, Chan Zuckerberg Initiative (left); Tilak Mandadi, EVP CVS Health (middle); Shiv Rao, CEO and Founder, Abridge (right)Stuart Isett/Fortune
  • AI can reduce human error, save time, and relieve doctors, according to three healthcare executives who discussed the technology at Fortune’s Brainstorm AI.

At Fortune’s Brainstorm AI conference in San Francisco on Monday, healthcare executives discussed the ways they expect the technology will transform the field. In their minds, this can mean freeing doctors from burdensome tasks, simplifying processes, and saving time—with the hope of reducing human error, and potentially reducing costs to consumers. 

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“Anything we’re doing with AI that makes our care and clinical professionals’ jobs easy is my favorite,” said Tilak Mandadi, executive vice president of Ventures and chief digital, data, analytics and technology officer at CVS Health, in an on-stage panel discussion Monday. 

Mandadi pointed to the company’s implementation of AI-based case preparation that saves its healthcare professionals a substantial amount of time that can then be used to spend with their patients. 

Shiv Rao, the founder and CEO of Abridge, said that freeing clinicians of burdensome clerical work is one of his startup’s key goals. Rao, who is also a practicing cardiologist, said he has a first-hand understanding of the importance of everything that he documents for everyone he serves. “I have to write a clinical note, for example, to give other folks on the care team an idea of why I thought through this differential diagnosis, why I prescribed a certain diagnostic for therapeutics,” he said. 

“I also have to think about revenue cycle, because in this country, we’re not compensated for the care that we delivered, we’re compensated for the care that we documented that we delivered. So these documents have real implications on all things related to what keeps the lights on in the hospital.” 

For patients, timely and accurate information is vital to ensure that they’re not Googline medical info and becoming concerned. Abridge uses technology to combine all that information through fewer conversations, so the clinician can focus on the patient, Rao said.

Patricia Brennan, vice president of science technology at Chan Zuckerberg Initiative, announced a new platform that the organization is launching. The platform will be “a one stop shop environment for biologists and ML developers,” she said, referring to machine learning developers. They’ll have access to models of biology across cell data, for one, and it’s designed to speed up biological research. 

Brennan’s organization — founded by Meta chief executive Mark Zuckerberg and his wife Priscella Chan — has already been able to build the largest integrated data sets of single cell data that now represents over 100 million cells. You can see where that data comes from, too, which is where transparency that is desperately needed comes in. 

Will AI help with the error in insurance denial rates, asked Fortune’s Verne Kopytoff?  Mandadi seems to think it will, through speeding up processes, such as authorizations, or through informing consumers on what is covered and what isn’t. Overall, he sees AI reducing human error. Brennan touched on how AI could save time, and that in turn could lower costs.

Read more coverage from Brainstorm AI:

Amazon’s top AI exec says industry concerns that LLMs hit a ‘wall’ are overblown, says Jeff Bezos ‘very involved’ in AI efforts

Microsoft’s biz dev boss on the big bets that could define the future of AI

Pitching investors is like the NFL draft says Colin Kaepernick — ‘it only takes one’

Join our exclusive webinar on May 28, featuring tech leaders from Orange, Mars, Reckitt, and Saint-Gobain. Apply to attend and receive Fortune’s editorial takeaways.
About the Author
By Alena BotrosFormer staff writer
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Alena Botros is a former reporter at Fortune, where she primarily covered real estate.

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