Advancements in the biological aspects of healthcare, particularly in the field of vaccines and treatments through gene therapy. This opens up new possibilities in healthcare.
Media 7: Would you like to share a bit about your personal journey and what led you to focus on revolutionizing healthcare through AI and AR with AdviNOW Medical?
James Bates: I've been in the high technology field for 25 years since graduating from school. I had the opportunity to join Bell Laboratories, be part of the world's first digital cell phone chipset, which sold billions of units over the years in satellite communication systems. Then, I had the opportunity to join a startup named Silicon Laboratories. We manufactured transceivers for cell phones and microcontrollers for Internet of Things devices. I also had the opportunity to oversee the international operations for them, and the business grew to over half a billion dollars, becoming a very successful company.
Subsequently, I relocated to the Bay Area and had the opportunity to work at Maxim. We partnered with companies such as Apple, Nest, and Google, requiring small-sized, low-power, high-precision components for Internet of Things applications. Later, I moved to Arizona and worked for a company called Free scale, where we developed the most comprehensive solution for self-driving vehicle technologies and advanced driver assistance systems. We were a global leader in this field. In 2016, we sold that business, and as an officer of the company, it seemed like the right time for me to retire.
Upon retirement, I faced a two-year non-compete agreement, which led me to explore new opportunities unrelated to my previous career. Healthcare piqued my interest because it is one of the most pressing issues of our time. Millions of people lack access to healthcare, leading to deteriorating health and poor quality of life. As a society, we need to find a compassionate and equitable way to support these individuals.
My initial venture into the healthcare industry involved considering the purchase of medical practices. However, I discovered that most of them in the United States were financially unviable, with many operating at a loss. As an investor, it didn't make sense to acquire unprofitable medical practices.
Consequently, I encountered a gentleman who operated a chain of urgent care centers that he wanted to sell. As I delved into these practices, I conducted a Six Sigma cost analysis, scrutinizing every aspect of the operation. I observed that doctors spent about two-thirds of their time on clerical tasks, despite being the most highly skilled and respected individuals in the clinic. This work didn't require a medical license but necessitated medical knowledge.
Upon closer examination, I identified two dimensions of this knowledge: coding systems related to healthcare regulations and all the administrative aspects that doctors learned to ensure they got paid and avoided legal issues. The second dimension involved the medical aspect, such as understanding diseases, symptoms, and treatments.
My solution was to apply technology similar to what we used in the self-driving vehicle industry to replicate a physician's decision-making processes using artificial intelligence. We also replicated an administrator's decision-making process to automate all the clerical work. This led to the founding of AdviNow Medical, a company that uses artificial intelligence to eliminate the two-thirds of a doctor's time spent on clerical work. As a result, clients who use our platform enable doctors to see two to three times more patients per day compared to those who don't. This not only makes these clinics profitable but also contributes to reducing the overall cost of healthcare.
M7: How is your organization utilizing AI to improve patient outcomes or streamline healthcare operations?
JB: Yeah, for the system to eliminate the clerical burden, enabling physicians to see more patients and reduce patient healthcare costs, the AI needs to replicate a physician's decision-making processes. Many companies in the field refer to themselves as AI users of what's known as decision trees, which is how doctors are trained in medical school. However, the reality is that the complexity of these decision trees makes it nearly impossible to structure effectively. Hence, Happy Created has devised a mathematical model that mimics a physician's cognitive processes. We utilize a natural language processing engine to extract information from publicly available, peer-reviewed literature.
Using this data, we automatically establish correlations between symptoms, illnesses, treatments, and outcomes. With these relationships, the AI can replicate a physician's decision-making, enabling it to diagnose over 10,000 illnesses and provide the most appropriate treatment plan. This represents true AI, which, frankly, is quite rare in the industry today.
M7: Can you share details about your organization's 'Digital Front Door' strategy and how it has enhanced patient engagement and access to care?
JB: The digital front door serves as a patient touch point. When the pandemic emerged, most patients had to resort to using some form of digital front door to schedule their doctor visits and interact with their physicians. Many patients found this experience extremely frustrating.
They encountered issues such as having to input a substantial amount of information and then the doctor not even reviewing what they had provided. This unfortunate reality is characteristic of most digital front doors in existence.
Happy Medical Solutions comprises five distinct components, with the digital front door being just one of them. However, because it is the initial point of contact with the patient, it is of paramount importance that it is user-friendly and intuitive. Additionally, a safety protocol is in place for patients who either do not wish to use it or encounter difficulties.
In such cases, they can seek human assistance to guide them through the process. AdviNow is one of the few companies worldwide that offers this comprehensive support system for their digital front door, allowing a human to assist those who are hesitant or struggling with the technology, while harnessing revolutionary artificial intelligence.
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The healthcare industry, post-COVID, faces substantial challenges that are causing financial losses.
M7: In your view, what are the most significant trends currently shaping the healthcare industry?
JB: There are two key aspects to consider. Firstly, there's the digitization of healthcare, and AdviNow plays a significant role in this process. Physicians have been increasingly burdened with healthcare responsibilities, and the regulatory environment has grown considerably more complex. Navigating this landscape has become almost impossible. Therefore, automating the entire patient journey is one of the most crucial developments in healthcare, and AdviNow is at the forefront of this transformation.
The second noteworthy trend pertains to advancements in the biological aspects of healthcare, particularly in the field of vaccines and treatments through gene therapy. This opens up new possibilities in healthcare, where we can potentially develop vaccines to prevent conditions like cancer from occurring in the first place, rather than solely focusing on treating these conditions once they manifest. The ability to proactively maintain human health, as opposed to reacting to illness, represents another major trend in the industry.
M7: In your opinion, what are the most significant challenges and opportunities on the horizon for the healthcare industry?
JB:The healthcare industry, post-COVID, faces substantial challenges that are causing financial losses. During the pandemic, government subsidies related to COVID made nearly every healthcare institution profitable. However, with the cessation of these subsidies, the vast majority of healthcare entities are now experiencing financial difficulties.
This loss of profitability has led to a slowdown in the progress they were making in terms of technological advancements and advanced medical practices. The need to make budget cuts has presented a significant challenge. In this scenario, what we require are forward-thinking individuals within these healthcare organizations who can drive the adoption of technology as a solution to address these budgeting issues. Instead of slowing down and adhering to traditional practices, we need to embrace technology to overcome these challenges.
M7: Would you like to discuss the types of decision support tools or systems employed within your organization to aid clinical decision-making and improve patient care?
JB: AdviNow collects patient information and then presents a one-page summary to the doctor. This summary streamlines the review and verification process, and the doctor can consult with the patient to provide guidance. Additionally, the AI assists in coding all essential information, ensuring that the doctor gets paid for the visit.
This comprehensive summary covers everything the doctor needs to know about the patient for diagnosis and treatment. It not only details the history of the current illness and its correlations with diseases but also identifies any care gaps related to comorbidities. This one-page summary equips the physician with all the necessary information for a quick and efficient evaluation, setting AdviNow apart from other decision support systems available.
M7: The components of AdviNOW Medical's technology offer unique solutions for improving healthcare delivery. How does content syndication help in spreading the message and engaging with a broader audience regarding these innovative components?
JB: Our primary objective is to ensure that every healthcare provider and healthcare institution is aware of the availability of these tools. Therefore, our goal is to disseminate this information to reach as many people as possible. In doing so, they can harness these tools to safeguard the financial health of their hospital systems or clinic chains, address issues related to provider burnout, and, most importantly, ensure that they serve their patients effectively. This awareness is crucial for them to comprehend and shape the future of medicine.
M7: Would you like to share how does AdviNOW Medical leverage advertising strategies to effectively communicate its mission and the transformative power of its healthcare solutions?
JB: AdviNow doesn't actively market outside of the industry. However, we participate in trade shows and engage with industry leaders. Currently, our primary focus is on these activities. Although our intention is to expand our marketing efforts, our current approach relies on word-of-mouth recommendations from key clients, partners, and individuals with success stories that are featured in the medical press.
M7: In your journey with AdviNOW Medical, what role has content creation played in educating healthcare professionals and the public about the benefits of AI and AR in healthcare?
JB: The messaging surrounding artificial intelligence has evolved over the years. Pre-pandemic, people were highly concerned about AI replacing their jobs. However, in the post-pandemic era, these worries have diminished. Instead, people are now seeking AI to assist them due to the overwhelming nature of their jobs. This signifies a significant shift in the messaging from 'AI is a job threat' to 'AI is a job aid.'
M7: In what ways does AdviNOW Medical actively engage with healthcare professionals, policymakers, and the broader community to share its vision and insights as a thought leader in the industry?
JB: I sit on multiple boards, one of which is the AZ Bio Organization of Arizona. Through this role, we engage with government officials, hospital system leaders, and regulators. We aim to help them grasp the potential of artificial intelligence in addressing their challenges. We do this through participation in significant governmental organizations and national government entities in the United States, where I serve on boards and in leadership positions. Additionally, trade shows provide another platform for us to effectively communicate this message.
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Forefront of an artificial intelligence revolution that allows the healthcare industry to return to its roots.
M7: How do you envision the healthcare landscape evolving in the next 5-10 years?
JB: Over the next five years, healthcare companies are likely to leverage solutions like ADP Now to eliminate overhead. This will result in increased patient engagement and, ultimately, enable physicians to dedicate more time to their patients and less to clerical tasks. Looking ahead over the next 10 to 15 years, artificial intelligence is expected to play an expanding role in diagnosing straightforward illnesses. This gradual progression will empower physicians to focus on the human aspect of care and address complex conditions, marking a significant advancement in awareness and patient care.
M7: As we conclude, is there a key takeaway or message you'd like to leave our audience with, particularly for those interested in the intersection of AI, AR, and healthcare innovation?
JB: The key takeaway here is that we are at the forefront of an artificial intelligence revolution that allows the healthcare industry to return to its roots. In this scenario, physicians can dedicate the majority of their time to patient care, rather than dealing with government regulations and payment codes. Physicians have a strong desire for this shift, and artificial intelligence makes it possible within our existing government regulatory framework.