Impact of AI on Healthcare Costs

AI has the potential to reduce healthcare costs by augmenting healthcare professionals' labor, thus decreasing the need for human involvement in certain tasks. This shift could lead to lower service costs in both fee-for-service models and value-based care systems, ultimately aiming to prevent illnesses and reduce hospitalizations. An example discussed includes the use of AI sales representatives that are significantly cheaper and more effective than human counterparts, indicating a possible model for similar efficiencies in healthcare roles. Reducing the cost of mistakes, particularly misdiagnoses or incorrect triage decisions, could further enhance savings and value in healthcare delivery.