Exploring the $188 Billion Opportunity: Why AI is Set to Transform Global Healthcare by 2030

USA News Group

can easily be prevented with an early and accurate diagnosis. Using advanced algorithms to analyze retinal images with precision, reliability, and speed, VisionAI can bridge the gap between too few ophthalmologists and tens of thousands of people who need to get tested.

According to Ainnova, the diagnostic error rate in diabetic retinopathy is about 49% and this is where VisionAI offers a positive impact for patients. VisionAI is a powerful tool to support the physician and give their patients accurate information that can improve their lives.

This partnership makes sense for Avant and its shareholders given the AI in healthcare market is projected to grow from $6.9 billion just 3 years ago to $67.4 billion by 2027, at a CAGR of 46.2% during the forecast period. Ainnova currently has commercial agreements with Pharma companies, clinics, insurance companies, and medical service companies. These relationships should offer AAC guidance into the North American and European markets.

CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 

Other recent industry developments and happenings in the market include:

HEALWELL AI, Inc. (TSX: AIDX) (OTCQX: HWAIF), a healthcare technology company focused on AI and data science for preventative care, and WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, recently announced an expansion to their multi-year strategic alliance agreement to develop an AI-enhanced clinical trials program to accelerate innovation and improve patient outcomes. Leveraging the country's largest network of primary and specialty care clinics, with over 180 clinics and thousands of healthcare practitioners, HEALWELL and WELL will collaborate to expand clinical trial access to more patients than ever before.

"Launching and managing clinical trial sites at WELL's clinic locations across Canada is a powerful and transformational strategic initiative," said Dr. Michael Frankel, Chief Medical Officer of WELL. "This initiative will allow WELL and HEALWELL AI to capitalize on their combined strengths in healthcare infrastructure and AI technology, potentially transforming the landscape for clinical research."

For WELL, hosting trials within its clinics will transform them into hubs of innovation, directly benefitting patients by bringing experimental treatments to local sites and improving accessibility. Leveraging HEALWELL's Contract Research Organization (CRO) capabilities alongside WELL's clinic infrastructure positions the partnership as a formidable player in AI-driven clinical trials, fostering the potential for new revenue.

"Patient identification and recruitment for clinical trials has become an increasingly complex challenge in the global healthcare and life science sectors," said Dr. Alexander Dobranowski, CEO of HEALWELL. "Success hinges not only on identifying patients but also on effectively recruiting them and managing their participation – steps that lead to improved outcomes for patients, practitioners and the healthcare system as a whole. Through our established late stage CRO, Canadian Phase Onward, HEALWELL has already made significant strides in accelerating the recruitment process, but the growing network of WELL clinics is an opportunity for us to execute our plans at scale. Ultimately, this service will be a benefit to doctors, healthcare practitioners and patients alike while reducing the cost of clinical trials and shortening their timelines."

ResMed Inc. (NYSE: RMD), the world's leading health technology company focused on sleep, breathing, and care delivered in the home, recently announced new patient-centric designed to enhance the therapy journey for sleep apnea patients. The new innovations integrate with digital wearable devices and generative artificial intelligence designed to deliver a more personalized sleep health experience and improve overall health.

"We know that digital wearables and other innovative technologies like AI can help consumers better understand their sleep habits and create a personalized pathway to better rest," said Carlos M. Nunez, M.D., Chief Medical Officer at ResMed. "Regular sleep tracking can offer crucial insights that empower people to make informed decisions about improving their sleep quality both now and in the future."

Clover Health Investments, Corp. (NASDAQ: CLOV), a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare, recently reported strong Q3 2024 financial results which included 9% growth in Total Revenue year-to-date compared to the prior year period. As well, Clover Health increased its Full-Year 2024 guidance midpoint to target updated range of Adjusted EBITDA profitability of $55-$65 million.

"Underpinned by our ability to use technology to empower any physician on a wide network, our results position us to drive membership growth while maintaining strong underlying financial performance," said Andrew Toy, CEO of Clover Health.  "I am proud that, powered by Clover Assistant, our health plans are anchored on identifying and managing diseases as early as possible to better control the total cost of care."

Clover Assistant is the company's software platform designed to aggregate patient data from across the healthcare ecosystem to support clinical decision-making and improve health outcomes through the early identification and management of chronic disease. The Clover Assistant AI tool was made available to payers and providers in late May of this year.

Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/

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