CHICAGO–(COMMERCIAL THREAD) –Neurocerne today announced savings of $ 370 million over five years by leveraging artificial intelligence (AI) and neuroinformatics to guide patients to the right treatment for Alzheimer’s disease at the right time.
As new modifying treatments for Alzheimer’s disease continue to emerge, Medicare and private health insurance plans need data-driven methods to screen, identify, and guide patients to appropriate treatment pathways.
Using insurance claims and population health data, Neurocern’s AI engine was able to identify patients eligible for new Alzheimer’s disease treatments more accurately than a general practitioner. This data-driven approach reduced diagnostic time by notifying and directing patients to the best route of treatment based on the indications of US Food and Drug Administration labels, a triage process that would allow insurers save over $ 370 million over five years in claims costs.
“AI has the ability to identify and get patients to treatment faster, resulting in better clinical outcomes and significant financial savings for Medicare, private health insurers, and the consumer,” said Dr Anitha Rao, Founder of Neurocern and Board Certified Neurologist. .
Study results, “Bridging the Medicine-Insurance Gap: How to Leverage Data, Artificial Intelligence, and Neuroinformatics for Insurance and Financial Risk ManagementWere published in the November 2021 issue of the CAPCO Institute Journal of Financial Transformation, an award-winning publication accredited by the American Economic Association. Neurocern presented similar independently validated results from a real-world pilot project with Fortune 500 insurance companies at the Alzheimer’s Association International Conference.
âThe ability to generate information from AI to deliver appropriate and cost-effective cognitive healthcare is urgently needed, given the shortage of trained subspecialists amid a growing number of patients who need them. Expert systems powered by semantically standardized, comprehensive and timely clinical data could revolutionize neurocognitive care while reducing costs, âsaid co-author Dr Paulo Pinho. Dr Pinho is Medical Director of Innovation at Diameter Health, a healthcare technology company that standardizes and enriches clinical data for data-driven use cases in health and life insurance, among other industries.
Neurocern is a minority physician-founded, veteran-owned AI and neuroinformatics company that uses clinical analysis to calculate data from multiple structured sources, including electronic health records, prescription data, and insurance claims data for clinical and financial information.