Value Based Care USA
MACHINE LEARNING & ARTIFICIAL INTELLIGENCE QUANTIFIES PATIENT LIVES IMPROVED, SAVED AND COST WITH INTRODUCTION OF LIFE SAVING MEDICINE
Patients live improved, saved and healthcare costs decreased by introduction of life science innovation.
Health & Life Science Data Prime.ai products and services impacted health systems costs for disease.
Step 1: Patients & Cost: Patients cohort determined using machine learning / ai models. Healthcare cost quantified and predicted to grow 5% per year annually.
Step 2: Value estimate: Patient lives impacted, costs savings, life science innovation and loan value.
Step 3: Value-based measurement: Cost savings quantified monthly and summed annually. Cost savings pays loan for life science innovation.
Results: Patient, healthcare cost and loan repayment tracked and measured.
Annual disease cost decreased to $1.5MM from $7MM healthcare cost or from ~1,200 to ~~350 annual patients.
Cumulative savings if not life savings innovation was introduced is $23MM or 3,833 patients assumes $6k/per patient cost.
(Illustrative, presented at Global Big Data Artificial Intelligence Conference May 2021)