According to AllTheResearch, the global — AI in Hospital Management Market was USD 1.18 billion in 2018. AI is making healthcare facilities more efficient and is improving the lives of healthcare providers and patients by automating tasks in minimal costs and time. Healthcare AI will be an area in which investments will grow rapidly.
An increase in the volume of healthcare data and the complications associated with data management demand artificial intelligence (AI). Numerous AI applications have already been employed by hospital management companies. The key categories of these applications involve diagnosis and treatment recommendations, patient engagement and adherence, and administrative activities. AI is becoming progressively more advanced at performing human activities more efficiently and quickly and at a lower cost. The potential for both AI and robotics in healthcare is vast. Just like in our everyday lives, AI and robotics are increasingly becoming a part of our healthcare ecosystem.
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AI in Hospital Management Ecosystem Segmentation
AI in Hospital Management Market, By Hardware, Software, Service
AI in Hospital Management Market, By Technology Deep Learning, Querying Method, Natural Language Processing, Context Aware Processing, Computer Vision
AI in Hospital Management Market, By Applications Robot-assisted Surgery, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection, Dosage Error Reduction, Clinical Trial Participant Identifier, Preliminary Diagnosis, Others
AI in Hospital Management Market, By End User Healthcare Provider, Pharmaceutical & Biotechnology Company, Patient, Payer
Companies such AiCure, Amara Health Analytics, and Apixio are bringing a variety of approaches to the use of AI in Hospital Management Market. By 2025, hospital management companies will spend an average of $54 million on artificial intelligence projects. This will improve the performance of hospitals, doctors, and nurses, and will give patients a more engaged and personalized service.
Advanced technology in healthcare is helping in managing medical records and other data in hospital management like assembling and evaluating patients’ data, stock updates, replacement requirements, etc. AI-enabled Robots help in collecting, storing, and rearranging data to provide faster, more consistent accessibility. It also helps in minimizing repetitive jobs, such as analyzing tests, X-Rays, CT scans, data entry, and other routine tasks, which can be done more rapidly and more accurately by robots. In cardiology and radiology, with the help of AI, the data would be examined according to the given instructions without any human intervention. So, cardiologists and radiologists in the future will be required to look only at the most complicated cases where human supervision is worthwhile.
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In 2018, North America was dominating the global AI in Hospital Management Market. Increasing implementation of healthcare IT solutions, a well-recognized healthcare sector, and the availability of funding for developing AI competencies are some of the factors that are contributing to the growth of the market in the region. The Asia Pacific is expected to develop as the fastest growing region in the coming years. Improvement in the infrastructure for healthcare IT, rising number of AI start-ups, and the increasing adoption of advanced technologies are some of the factors that are contributing to market growth.
Increasing government initiatives for AI technology in this region are likely to support growth. There are many trends that are having an impact on the AI in Hospital Management market forecast. These, when evaluated from a company’s perspective, can drive growth. Our numerous consulting projects have generated sizeable synergies across all regions and all sizes of companies.
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