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Bringing Generative AI to Healthcare | Sequoia Capital - https://www.sequoiacap.com/article/generative-ai-for-healthcare-perspective/?itm_medium=related-content&itm_source=sequoiacap.com

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Healthcare is a massive market rife with administrative inefficiencies. Of the over $4T in annual spend in the U.S. alone, $300B of that is administrative opex, mostly in repetitive, labor intensive processes. Generative AI is especially well suited to attack the labor costs of this services-heavy industry. As we have seen in legaltech, LLMs may unlock growth and disruption in a traditionally difficult vertical for software. Right now, the main applications of this technology target cost saving and automation in back office operations and making workflows more efficient for frontline staff, but the dream is for generative AI to dramatically improve patient outcomes. We are already seeing innovative companies attack specific use cases, such as medical scribing, patient engagement and other workflows like prior authorization—and new opportunities are being discovered every day. The battle is already brewing. Faced with the familiar incumbents’ advantages in distribution, new entrants mus

Bringing Generative AI to Healthcare By Josephine Chen Animation: Matt Hamel Published September 14, 2023 Where startups have traditionally struggled, LLMs have the potential to unlock growth and disruption. Healthcare is a massive market rife with administrative inefficiencies. Of the over $4T in annual spend in the U.S. alone, $300B of that is administrative opex, mostly in repetitive, labor intensive processes. Generative AI is especially well suited to attack the labor costs of this services-heavy industry. As we have seen in legaltech, LLMs may unlock growth and disruption in a traditiona

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