Miscommunication between key healthcare stakeholders is the biggest roadblock to improving patient outcomes.
basys.ai targets this problem with its technology, expertise, and network.
Big tech has made a foray into healthcare but struggles to leverage technology to connect healthcare organizations.
basys can help big tech scale in healthcare through its network and expertise.
Big tech can help basys scale through its resources and distribution channels.
The purpose of healthcare is to prioritize patients and ensure their well-being. Reality often fails to meet this noble goal. Patients frequently endure frustrating delays and bear exorbitant costs for necessary treatments, while physicians struggle with staffing shortages and the overwhelming weight of administrative tasks. The current state of healthcare is marred by administrative inefficiencies that directly and detrimentally impact patient treatment outcomes. An urgent and effective solution is needed to address the root cause of these inefficiencies.
The core barrier to improving patient outcomes in healthcare is miscommunication between insurance, doctors, and pharmaceutical companies. Addressing this challenge head-on is basys.ai, a company that brings its cutting-edge technology, expertise, and extensive network to target this problem. Big tech has faced difficulties in navigating the complicated relationships between stakeholders despite its sizable investments in healthcare. basys.ai offers the necessary network and expertise to help big tech scale in healthcare, fostering improved communication and collaboration among healthcare organizations. On the other hand, big tech brings its abundant resources and distribution channels to the table, empowering basys.ai to expand its reach and accelerate its mission of transforming healthcare communication. This collaborative approach holds the potential to revolutionize patient care by bridging the gap between technology and healthcare, ensuring seamless connectivity and enhancing overall outcomes.
Fragmented Healthcare Communication: The Barrier to Treatment
The healthcare industry has long been fragmented. Unlike fields such as law and finance, which embraced digital technology early on, medicine has only recently begun to digitize its records. Electronic health records (EHRs) are not standardized, making it difficult for health systems to exchange data with each other and insurance companies. The transfer of critical information is slow and error-prone, delaying treatment, raising costs, and harming patient outcomes.
Accurate information plays a vital role at every stage of treatment. Doctors need precise data to diagnose patients, determine disease progression, select appropriate treatment methods, obtain insurance approval, and administer treatments. Similarly, insurance companies must ensure accurate treatment approvals to avoid unnecessary or extreme interventions. Pharmaceutical companies rely on accurate information to manage drug supply and delivery effectively. Communication barriers between these stakeholders hinder the effectiveness of healthcare delivery.
One prominent example of communication inefficiency is the prior authorization process, through which doctors request treatment approval from insurance companies. This historically manual process is time-consuming, error-prone, and costly, often taking several days to complete. The consequences of such inefficiencies are significant, as patients' lives are at stake. Healthcare professionals cannot afford errors in treatment delivery.
Introducing basys.ai: Bridging Communication Gaps in Healthcare
Recognizing the root cause of healthcare challenges lies in communication gaps, a team of experts from Harvard and MIT established basys.ai. This healthtech startup aims to bridge these gaps by leveraging its technology, expertise, and network. The core solution provided by basys.ai revolves around serving as a neutral hub that streamlines communication between insurance companies and healthcare providers.
The platform developed by basys.ai employs patented and state-of-the-art machine learning models to transform the prior authorization process. The platform automates the submission and approval of prior authorization requests, making the process intuitive, rapid, and accurate. Additionally, basys.ai's technology aids doctors in accurately identifying disease progression, thereby enabling more precise treatment requests.
basys’ expert data scientists have fine-tuned its machine learning models. These models have been designed to process treatment requests at various levels of complexity. Simple requests can be immediately processed, while more intricate ones are analyzed using natural language processing techniques. If a request requires human intervention for approval, the algorithm annotates it and automatically routes it to the appropriate stakeholders. Moreover, basys.ai's computer vision algorithm, recognized by the American Diabetes Association (ADA), identifies the disease progression status of diabetic retinopathy—an eye health and vision condition associated with diabetes.
basys.ai succeeds at applying technology to healthcare due to the interdisciplinary expertise of its team. The co-founders have over two decades of combined experience in data science, healthcare, and technology. Members of the basys team were also involved in the development of the Affordable Care Act (ACA). Responsible AI guardrails are paramount to ensure safe and secure medical data processing, and the team’s background in public health policy provides a framework for them to implement these guardrails.
basys.ai has forged connections with key players across healthcare. Partnership with Mayo Clinic, the number one hospital in the world, enables basys.ai to tailor its software to meet the specific needs of physicians. Collaboration with Eli Lilly & Co, a pharmaceutical giant, allows basys.ai to represent the producers of essential medications required for patient care. basys has forged alliances with renowned diabetes institutes like Joslin Diabetes Center and Beth Israel Lahey to develop specialized solutions for conditions such as diabetic retinopathy. These developments have gained basys.ai recognition from Forbes, TEDx, the ADA, and the Boston Congress of Public Health's 40 Under 40 Awards.
The Symbiotic Relationship: basys.ai and Big Tech
Big tech companies like Google, Microsoft, Amazon, Apple, and IBM have ventured into healthcare with new products, acquisitions, and partnerships, but their progress in the industry has been slow. These companies face two main obstacles: developing intuitive technology for healthcare professionals and establishing connections across organizational divides. Understanding healthcare professionals' needs is crucial for tech companies to build interfaces that effectively address those requirements. Bridging the gaps between payers, providers, and pharmaceutical companies requires a comprehensive understanding of the nuances of their relationships.
In this regard, basys can play a pivotal role as a translator between the technical and medical domains. Through close collaboration, basys.ai can facilitate communication between tech companies and healthcare professionals, ensuring that the technical skills of the former are tailored to meet the needs of the latter. Additionally, basys.ai can bridge industry gaps by connecting tech companies with all stakeholders and guiding the design of solutions that streamline communication among them.
While basys.ai serves as the connective tissue of healthcare, big tech brings the necessary resources and distribution channels to enable its scaling. In terms of resources, big tech provides basys.ai with access to valuable data and financial support. This collaboration empowers basys.ai to refine and expand its machine learning models, improving their accuracy and efficiency. Big tech's distribution channels, which encompass vast supply chains and robust marketing ecosystems, provide basys.ai with the means to reach a wider audience and rapidly deploy its solutions.
Big tech's previous healthcare ventures illustrate how its resources and supply chains can scale healthcare innovations. For instance, when Amazon acquired the online pharmacy PillPack, it connected the company to its unrivaled distribution channels, leading to significant growth. Google's application of its AI DeepMind to colonoscopy screening and its Google Cloud Platform to health data enabled partnerships with major providers like Mayo Clinic. Microsoft's Azure Health Bot empowers developers at healthcare organizations to build medicine-specific chatbots. Similarly, basys.ai can scale by catering the immense data science resources of big tech companies to physicians' needs.
Healthcare is at a turning point: ignoring communication barriers between organizations is unsustainable and artificial intelligence is proving to be a powerful tool to overcome these barriers. However, an interdisciplinary approach that appreciates the intricacies of healthcare relationships is necessary to use this tool to its fullest potential. By leveraging cutting-edge technology, industry expertise, and strategic partnerships, basys.ai is successfully streamlining communication between insurance companies, healthcare providers, and pharmaceuticals. A potential symbiosis emerges between basys.ai and big tech companies, where basys.ai provides the necessary connections and domain expertise, while big tech contributes invaluable resources and distribution channels. With this symbiosis lies the potential for patients to get the fast, safe, effective, and affordable treatment they deserve.