DetailsCategory: More NewsPublished on Friday, 10 January 2020 08:21Hits: 1528

BERLIN, Germany I January 9, 2020 I Bayer and Exscientia Ltd., a UK-based Artificial Intelligence (AI)-driven drug discovery company, have entered into a three-year, multi-target collaboration. The partners will work on early research projects combining Exscientias proprietary AI drug discovery platform and drug design know-how with Bayers data and drug discovery capabilities. They aim to identify and optimize novel lead structures for potential drug candidates to treat cardiovascular and oncological diseases. Exscientia may be eligible to receive up to EUR 240 million, including upfront and research payments, near term and clinical milestones. As part of the agreement, Exscientia may also receive sales royalties. Bayer owns the rights to novel lead structures generated as part of the collaboration.

AI has the potential to accelerate drug discovery and improve the drug development productivity in terms of quality, cost and cycle time. Up to now, it takes 12 to 15 years from early research to marketing approval of a new drug. The collaboration focuses on early stage research by using an AI-based algorithm to predict potential drug molecules. Exscientias AI-driven drug discovery technology provides novel chemical matter for difficult-to-address targets and could identify novel drug candidates more efficiently through less optimization cycles.

We are driving forward digital transformation in R&D as we believe that digital technologies such as AI can simplify and speed up the discovery and development of new drugs for patients, said Dr. Joerg Moeller, Member of the Executive Committee of Bayer AG's Pharmaceuticals Division and Head of Research and Development. The collaboration with Exscientia is expected to help us to achieve project milestones earlier and at the same time accelerate timelines by enabling more precise identification of suitable drug targets and lead structures.

Were delighted to collaborate with Bayer, a globally recognized pharmaceutical company who has already committed significant investment to treating challenging diseases, said Professor Andrew Hopkins, CEO of Exscientia. Since our pioneering Nature papers demonstrated the automated design of small-molecules, we have enhanced our platform and exemplified it commercially, by accelerating the discovery of future drug molecules with partners. Were excited to now work with Bayer researchers to drive this transformational change in key therapeutic areas.

The Pharmaceuticals Business Development & Licensing team of Bayer facilitated this collaboration.

About artificial intelligence at Bayer PharmaceuticalsArtificial intelligence provides significant opportunities for Bayers Pharmaceuticals business. Bayer is committed to realizing the potential value associated with big data, advanced analytics, and artificial intelligence, as it continues to explore and leverage them along the value chain. Bayer believes that there are three ways that artificial intelligence could be applied in our business: to strengthen and accelerate innovation, to advance operations and to identify new business opportunities. Such technologies could therefore support Bayer in getting the right treatment to the right patient at the right time, more efficiently and faster than we do today.

About ExscientiaExscientia is at the forefront of Artificial Intelligence (AI)-driven drug discovery and design. By fusing the power of AI with the discovery experience of seasoned drug hunters, Exscientia is the first company to automate drug design, surpassing conventional approaches. For more information visit http://www.exscientia.ai or follow on Twitter @exscientialtd

About BayerBayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to http://www.bayer.com.

SOURCE: Bayer

The rest is here:
Bayer and Exscientia collaborate to leverage the potential of artificial intelligence in cardiovascular and oncology drug discovery | More News | News...

Artificial intelligence and machine learning promises to revolutionize healthcare.

Proponents say it will help diagnose ailments more quickly and more accurately, as well as help monitor peoples health and take over a swath of doctors paperwork so they can see more patients.

At least, thats the promise.

Theres been an exponential increase in approvals from the Food and Drug Administration (FDA) for these type of health products as well as projections that artificial intelligence (AI) will become an $8 billion industry by 2022.

However, many experts are urging to pump the brakes on the AI craze.

[AI] has the potential to democratize healthcare in ways we can only dream of by allowing equal care for all. However, it is still in its infancy and it needs to mature, Jos Morey, MD, a physician, AI expert, and former associate chief health officer for IBM Watson, told Healthline.

Consumers should be wary of rushing to a new facility simply because they may be providing a new AI tool, especially if it is for diagnostics, he said. There are really just a handful of physicians across the world that are practicing that understand the strengths and benefits of what is currently available.

But what exactly is artificial intelligence in medical context?

It starts with machine learning, which are algorithms that enable a computer program to learn by incorporating increasing large and dynamic amounts of data, according to Wired magazine.

The terms machine learning and AI are often used interchangeably.

To understand machine learning, imagine a given set of data say a set of X-rays that do or do not show a broken bone and having a program try to guess which ones show breaks.

The program will likely get most of the diagnoses wrong at first, but then you give it the correct answers and the machine learns from its mistakes and starts to improve its accuracy.

Rinse and repeat this process hundreds or thousands (or millions) of times and, theoretically, the machine will be able to accurately model, select, or predict for a given goal.

So its easy to see how in healthcare a field that deals with massive amounts of patient data machine learning could be a powerful tool.

One of the key areas where AI is showing promise is in diagnostic analysis, where the AI system will collect and analyze data sets on symptoms to diagnose the potential issue and offer treatment solutions, John Bailey, director of sales for the healthcare technology company Chetu Inc., told Healthline.

This type of functionality can further assist doctors in determining the illness or condition and allow for better, more responsive care, he said. Since AIs key benefit is in pattern detection, it can also be leveraged in identifying, and assist in containing, illness outbreaks and antibiotic resistance.

That all sounds great. So whats the hitch?

The problem lies in lack of reproducibility in real-world settings, Morey said. If you dont test on large robust datasets that are being just one facility or one machine, then you potentially develop bias into the algorithm that will ultimately only work in one very specific setting but wont be compatible for large scale roll-out.

He added, The lack of reproducibility is something that affects a lot of science but AI in healthcare in particular.

For instance, a study in the journal Science found that even when AI is tested in a clinical setting, its often only tested in a single hospital and risks failing when moved to another clinic.

Then theres the issue of the data itself.

Machine learning is only as good as the data sets the machines are working with, said Ray Walsh, a digital privacy expert at ProPrivacy.

A lack of diversity in the datasets used to train up medical AI could lead to algorithms unfairly discriminating against under-represented demographics, Walsh told Healthline.

This can create AI that is prejudiced against certain people, he continued. As a result, AI could lead to prejudice against particular demographics based on things like high body mass index (BMI), race, ethnicity, or gender.

Meanwhile, the FDA has fast-tracked approval of AI-driven products, from approving just 1 in 2014 to 23 in 2018.

Many of these products havent been subjected to clinical trials since they utilize the FDAs 510(k) approval path, which allows companies to market products without clinical trials as long as they are at least as safe and effective, that is, substantially equivalent, to a legally marketed device.

This process has made many in the AI health industry happy. This includes Elad Walach the co-founder and chief executive officer of Aidoc, a startup focused on eliminating bottlenecks in medical image diagnosis.

The FDA 510(k) process has been very effective, Walach told Healthline. The key steps include clinical trials applicable to the product and a robust submission process with various types of documentation addressing the key aspects of the claim and potential risks.

The challenge the FDA is facing is dealing with the increasing pace of innovation coming from AI vendors, he added. Having said that, in the past year they progressed significantly on this topic and created new processes to deal with the increase in AI submissions.

But not everyone is convinced.

The FDA has a deeply flawed approval process for existing types of medical devices and the introduction of additional technological complexity further exposes those regulatory inadequacies. In some instances, it might also raise the level of risk, said David Pring-Mill, a consultant to tech startups and opinion columnist at TechHQ.

New AI products have a dynamic relationship with data. To borrow a medical term, they arent quarantined. The idea is that they are always learning, but perhaps its worth challenging the assumption that a change in outputs always represents an improved product, he said.

The fundamental problem, Pring-Mill told Healthline, is that the 510(k) pathway allows medical device manufacturers to leapfrog ahead without really proving the merits of their products.

One way or another, machine learning and AI integration into the medical field is here to stay.

Therefore, the implementation will be key.

Even if AI takes on the data processing role, physicians may get no relief. Well be swamped with input from these systems, queried incessantly for additional input to rule in or out possible diagnoses, and presented with varying degrees of pertinent information, Christopher Maiona, MD, SFHM, the chief medical officer at PatientKeeper Inc., which specializes in optimizing electronic health records, told Healthline.

Amidst such a barrage, the systems user interface will be critical in determining how information is prioritized and presented so as to make it clinically meaningful and practical to the physician, he added.

And AIs success in medicine both now and in the future may ultimately still rely on the experience and intuition of human beings.

A computer program cannot detect the subtle nuances that comes with years of caring for patients as a human, David Gregg, MD, chief medical officer for StayWell, a healthcare innovation company, told Healthline.

Providers can detect certain cues, connect information and tone and inflection when interacting with patients that allow them to create a relationship and provide more personalized care, he said. AI simply delivers a response to data, but cannot address the emotional aspects or react to the unknown.

See the rest here:
Don't Put Your Health in the Hands of Artificial Intelligence Just Yet - Healthline

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at http://www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

As with many websites, JD Supra's website (located at http://www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

We use cookies and other tracking technologies to:

There are different types of cookies and other technologies used our Website, notably:

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

See the original post:
Artificial Intelligence (AI) Patents Will the Patent Office Change the Rules? - JD Supra

The future where people can delegate mundane tasks to a machine is not far from happening. From starting the laundry down to cooking dinner after a long day is about to be over. Artificial Intelligence has really helped shape our internet today.

After all, we can already communicate with virtual assistants like Apples Siri and Amazons Alexa for small things around the house, like calling Uber or ordering a pizza. Things that we only see on sci-fi movies may be closer than you think. With the internet making things possible, which is unthinkable decades ago, you will wonder what it is capable of under the influence of AI.

It is no wonder why this fast-technological advancement will get you into thinking; How AI is Helping Shape Up the Internet Today?

Artificial Intelligence or AI is the technology that transforms a computer to think, operate, and act human-like. This process is possible by taking in data and information from its surroundings. After collecting this data, it will then decide on a response based on what it had learned and sensed.

Without a doubt, AI is becoming an integral part of our society. Now with the technology behind it evolving faster than ever, the internet could transform sooner than any of us could have anticipated.

People can utilize Artificial Intelligence to do impressive tasks and jobs faster than any human can. That is why people use AI with almost everything to speed up the manual process. In the present day, you can find AI in all sorts of industries. This development can only prove that the importance of AI in our everyday life is equivalent to efficiency and accuracy.

AI-powered software and equipment can provide fast and accurate X-ray readings and laboratory results. Before lab results could take hours before yielding results. But now, with smart equipment available in hospitals, health care is better than ever.

Not just health institutions, as you can also have access to personal health care assistants. These AI-powered apps can serve as a useful partner in reminding you to take your medicines on time and follow a fit lifestyle. It can also advise you on your everyday diet and coach you in exercise routines.

Virtual shopping that offers shoppers their very own personalized recommendations is made possible through AI. It can also present options with the consumer for a better retail experience. For store owners, stock management is more streamlined than ever.

Better business models and more accurate data is vital to earning more significant profits. With AI automating backend processes it will not just eliminate human errors but will also boost productivity.

AI is equipped to analyze a factorys IoT (Internet of Things). Thanks to the data that streams from all the interconnected equipment, it can make a detailed analysis of the factorys operation. It can predict machine life and its productivity to reduce costs.

Artificial Intelligence improves the speed, accuracy, and effectiveness of everyday human tasks. Now, financial institutions such as banks have started to utilize AI techniques to identify highly suspicious transactions that can result in fraud. AI can adapt fast and calculate a more accurate credit scoring than any manual process can. It can also automate intensive data management tasks. With transactions fully automated, it will lessen human error and the possibility of security leaks.

The internet is a part of a life that is now widely affected by the rise of AI technology. Almost every household has internet, and everybody owns a smartphone. We are always plugged-in, and AI has come in to revolutionize the internet as we know it.

With machines becoming better and more efficient at learning and processing data, it is inching towards human beings faster than ever. However, dont worry as they wont replace workers anytime soon, but the tasks getting delegated to them is growing faster every day.

AI algorithms can now build websites from scratch, and the most popular are Wix ADI, Firedrop, and Grid. The AI assistant can determine the type of site you are making and offers suggestions. Unlike before, where you have to hire a website developer and designer, you can now cut costs and opt for an AI designer.

Virtual customer service agents are a revolutionary approach to how customers are getting served. Automated customer experience is no longer a thing in the future. But chatbots are not limited to the food sector, as social platforms, and other sites use them as well. These intelligent service agents learn from customer interactions to answer questions.

A study suggests that in the year 2020, machines will take over 85% of customer interactions. This research means that humans powering these channels may soon find themselves replaced by AI.

Voice-powered AI assistants like Alexa, Siri, Google Assistant and has become a part of most homes in the past few years. So, it is not impossible for online stores to adapt to this technology in the future. Imagine talking to online retail assistant online, how convenient would that be?

With e-commerce on the rise, a fully automated transaction for goods and services online is not unlikely. Having AI recognize voice commands to run stores will not just cut unnecessary costs but can also increase work efficiency compared to manual labor.

AI is helping businesses to have a better understanding of day to day operations. Not to mention how good it is in predicting risks that are attached to the information traveling via the internet. It can also help with deploying a rapid response during unforeseen accidents such as financial losses and cyber threats.

AI-powered applications are being utilized in detecting fraudulent transactions at bank ATMs and driver insurance that is based on the clients driving patterns. They can also identify potential hazards workers to prevent accidents. It is also used for law enforcement surveillance data that can help in recognizing developing crime scenes ahead of time.

As a writer, one of first, you need to do before you can start crafting a piece is research. You need to compile and consolidate data from all sources so you will only have the best information; this process can be time-consuming, not to mention labor-intensive. Fortunately, with how fast the advancement of Artificial Intelligence is, we might be able to delegate this task to them in the future. When I say in the future, it is not in the far one, but in an immediate one.

After all, salesforce is already equipped with an algorithm that can summarize longer texts. Understanding the market is much easier compared to crunching numbers before. More and more people are reaping the benefits of having data delivered to them more quickly and much more precise than manual research with AI processing information faster.

Though it is true that spell check is not a new tech anymore, AI is learning to do much more than that. AI is becoming more better at comprehending the context and purpose behind written words. Hence, it can soon learn to correct style and grammar more efficiently and accurately. Grammarly and Atomic Reach are already into this, so who knows how this tech will revolutionize writing?

AI and content creation are made possible and currently being improved thanks to algorithms that are continuously getting updated. With Googles religious updates in recent years, online content has shifted from the one ruled by keyword stuffing to real digestible content directed at human readers. But of course, the SEO elements are still mixed in.

As a matter of fact, AI journalism has been around for a while as machines can now automatically generate content like business reports, hotel descriptions, stock insights, and sport event recaps.

However, is it possible for them to start writing novels anytime soon? The reasonable assumption will be a no. Creative tasks still need complex thinking and rationality that is still impossible for AI. But for less original content and data-driven writings, then it is more than possible for AI to rise to the task.

AI is revolutionizing the internet as we know it. With tons of automation available, not to mention the rise of virtual assistants, we can say that the future is upon us. The constant evolution of technology that is furthered fueled by humanitys desire for progress has propelled the rise of AI.

Making our lives better and performing tasks more efficiently is the main reason for the inception of AI. They are designed to aid humans in leading to a better quality of life. That is why it is not surprising if AIs growth will leap bounds in the upcoming years. Because after all, if there is one thing humans are consistent with, it is progress.

Hayk Saakian is an entrepreneur who has a keen interest in everything tech related. He can usually be found writing informative articles at hayksaakian.com, in which he shares valuable insights in today's modern trends.

See the rest here:
How Will Artificial Intelligence Shape Up the Future of the Internet - ReadWrite

AI is touted as the latest, greatest advancement in healthcare. But revenue cycle leaders are more than a little skeptical of AI. They're also frustrated, annoyed, and cynical.

"Meaningless," "scary," and "shiny object" are just a few of the ways revenue cycle executives described AI at the recent HealthLeadersRevenue Cycle Exchangelast month.

They said they hear lots of sales pitches and hype, but not much about data. They hear about possibilities and promise, but not about real examples of its practical applications, they said.

And, crucially, many revenue cycle executives said they don't fully understand what AI is, frequently confusing the term and using it interchangeably with other technology solutions.

That's why HealthLeaders asked Matt Hawkins, a revenue cycle AI industry expert and CEO of Waystar, every question revenue cycle leaders have wanted to ask about AI.

HealthLeaders:What is AI? How is it different than other forms of computing?

Matt Hawkins: When we talk about computing, in the traditional sense, we're referring to programs that obey a set of predefined rules and logic. A conventional computer can only do tasks that you explicitly program it to do.

On the other hand, a program that runs on AI is designed to mimic the functions of a human brain. Rather than simply obeying commands, software powered by AI has the ability to learn as it goes, identifying patterns and solving problems like a human would.

HL: What is RPA?

Hawkins: RPA, or robotic process automation, refers to software tools that automate human tasks that are rule-based and repetitive. RPA can record tasks performed by an employee on their computer, then perform those same tasks on its own.

HL: What is the difference between AI and RPA?

Hawkins: A simple way of putting it is that RPA mimics human actions, and AI mimics human cognition. Robotic process automation requires a user to perform a specific, repetitive set of tasks. Once the RPA software has recorded this process, it can mimic the user's actions to take over the process on its own. RPA can perform extremely complex processes, but it can't do any tasks it has not been explicitly instructed to execute.

Artificial intelligence, meanwhile, is designed to be as flexible and adaptive as the human brain, learning over time. AI software can interpret vast amounts of data, provide actionable insights, and assist in making decisions.

HL: Revenue cycle executives don't understand AI and they're already feeling hostile and skeptical of it. I have heard them describe it as a meaningless buzzword. One exec has even told his employees he doesn't want to hear the term. Why should they think differently?

Hawkins: Healthcare administration still lags behind in technology adoption. While industries like banking have utilized artificial intelligence for a long time, the revenue cycle still relies largely on manual processes.

I think that because we don't have a clear picture of what AI looks like in healthcare, it leads to misconceptions on both ends of the spectrum: you have some people who fear AI will replace humans because it does too much, and others who are disappointed in the functionality and think it does too little.

In reality, AI is a powerful tool that assists humans with better decision-making and has enormous potential to cut costs and increase effectiveness across the revenue cycle. When you look at the real value that numerous healthcare organizations have derived from using AI to help improve billing and administrative tasks, it's a no-brainer.

HL: What are some real-world ways AI can be or is used in the revenue cycle?

Hawkins: There are opportunities for providers to use AI to optimize every step of the revenue cycle management process. One huge opportunity for artificial intelligence is in predicting claims denials. Providers face the difficult task of minimizing denials from payers, while still processing claims fast enough to keep the practice running. Without insight into the likelihood of denial, provider teams often waste time working on the wrong claims.

What AI can do is predict denials with a high degree of accuracy and precision and build that into the workflow prior to claim submission. By learning overarching patterns and probabilities of claim denials, AI can guide humans on where to focus their efforts in order to maximize the amount of payment received.

After a claim has been submitted, the next step for the provider is to follow up with the payer to settle the claim. Artificial intelligence can help here, too, by interpreting prior history to determine how long it will take a specific payer to settle a claim. AI tools can show, statistically, when a claim has gone unpaid for an irregularly long time and requires human intervention. Again, this increases efficiency for healthcare administrators, helping them manage their time so they can direct their efforts to more important tasks.

AI is also a valuable tool for ensuring a better patient financial experience. As patient financial responsibility continues to grow, it is crucial for providers to provide a seamless, consumer-friendly billing experience while safeguarding a healthy revenue flow. AI tools can interpret data to model a patient's propensity to pay, and then offer insights on how to send the right follow-up message at the right time for that patient.

AI can also help determine whether a patient is eligible for charity care, saving money for hospitals and patients alike.

HL: How are those applications different than something like automation or other forms of rev cycle technology?

Hawkins: Take the example about predicting claims denials. Robotic process automation tools allow providers to automate the claims denial process, which is helpful for reducing manual effort and minimizing errors.

However, AI takes this a step further by collecting and interpreting data as it goes, and then using that knowledge to continuously tweak and improve the process. AI offers insights and ideas for improvement that RPA, which functions on rote repetition, cannot.

HL: A lot of revenue cycle executives seem to be taking a wait-and-see" approach to AI. Is this the right strategy for 2020?

Hawkins: Between heightening operating costs and difficulties collecting patient payments, healthcare providers are under more financial pressure than ever before. At the same time, medical billing faces heightened scrutiny nationwide, particularly around surprise bills. These factors are not going to mitigate in 2020. It's more important than ever for healthcare organizations to ensure that their billing practices are as accurate, efficient, and straightforward as possible, and AI is the most powerful tool available to achieve that goal.

The HealthLeadersRevenue Cycle Exchange is one of six healthcare thought-leadership and networking events thatHealthLeadersholds annually.OurRevenue Cycle Exchangeallows you to share insights and ideas with other revenue cycle VPs and leadership with the same challenges. To inquire about attending the nextHealthLeadersRevenue Cycle Exchange program at the Omni La Costa in Carlsbad, CA, April 20-22, email us atexchange@healthleadersmedia.com.

Alexandra Wilson Pecci is an editor for HealthLeaders.

More here:
A Nuts-and-Bolts Guide to AI - HealthLeaders Media