The Potential of generative AI for value-based care

The value-based care (VBC) market is predicted to reach $174 billion by 2032, facing challenges in operational, financial, data complexity, and technology-related aspects during its accelerated adoption. Current medical data underutilisation is attributed to unstructured data, data gaps, and privacy concerns. Solutions include Natural Language Processing (NLP) and Machine Learning (ML) for digitising data, Generative AI for synthetic datasets, and Federated Learning (FL) for collaborative insights without sharing patient data.

Gen AI can aid in VBC by streamlining contract processes through the automated generation of contracts based on past patterns. In care management, Gen AI facilitates personalised communication, care plans, and device monitoring for patients. It can enhance Internet of Medical Things (IoMT) devices, ensuring preventive maintenance and repairs. Additionally, Gen AI helps care teams navigate healthcare complexities.

Beyond VBC, Gen AI is being explored in various areas, including automation of administrative tasks, prevention of medical errors, medical education, and clinical decision support. In the context of VBC, Gen AI is already influencing the acceleration of new value-based payment models through improved contract processes and care management workflows.