Raising Health Implementation, Data, Impact of Healthcare AI with Vijay Pande and Julie Yoo
Jul 30, 2024
Vijay Pande and Julie Yoo, general partners at a16z with a focus on healthcare technology and AI, tackle the intriguing fusion of AI and healthcare. They discuss how AI can dramatically reduce healthcare costs while improving patient experiences. The conversation dives into the complexities of regulatory challenges and the critical need for innovative data generation over traditional methods. They explore personalized healthcare through advancements in precision medicine, highlighting how understanding patient phenotypes can revolutionize care.
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AI's Potential to Lower Healthcare Costs
- AI can lower healthcare costs by augmenting clinicians, handling tasks they could do.
- Bigger wins are in value-based care by preventing hospitalizations and readmissions.
AI Agents vs. Human Labor Costs
- AI agents could be 5x cheaper and 2x more effective than human equivalents, like in sales.
- This translates to healthcare administration, reducing labor costs and mistakes.
Inelasticity of Healthcare Economics
- Healthcare economics are inelastic; people will pay anything for their loved ones' health.
- Shift to preventative care and bend the cost curve.