In the US, healthcare expenses represent 17.6% of national GDP, which is $600 billion more than expected for a country of that size and wealth. According to McKinsey & Company, this number can be significantly reduced by $300 to $450 billion, only by implementing data intelligence.
Renu and Michael discussed with Deborah all the benefits and pitfalls of bringing data intelligence to the health care and insurance industries and how it influences the various stakeholders, such as physicians, patients, or claim adjusters. You will also learn how Deborah combines her nursing background with data science to form a valuable business. And even more, the answer to the question “Will AI replace your job?” is also covered in this episode.
Some of the topics we discussed:
- Acceptance and an excitement around data analytics in Insurance
- The importance of educating the insurance market
- How data intelligence can be used to give the patients more choices, more autonomy around their own health experience
- What it takes to build a business from scratch
- The impact of GPT-3 and Large Language Models for the insurance claims process
Other titles we considered:
1. We Respect the Expert’s Opinion, but the Data Says a Different Story
2. Making The Machine and Human Work Together for Better Results
3. It’s the Most Exciting Thing and the Most Terrifying Thing I’ve Ever Done
4. I Look at It and Say, That Makes Sense
5.That’s How We’re Made. We’re Made to Be Connected
This episode was produced by Khrystyna Khmilovska.