Much has been said about how generative AI will impact the healthcare and life sciences industries. While generative AI will never replace a human healthcare provider, it is going a long way toward addressing key challenges and bottlenecks in the industry. And the effects are expected to be far-reaching across the sector.

The medical device industry has recently seen a troubling increase in recalls, often due to software failures or software-to-hardware miscommunication. The number of medical devices with software is also increasing, considering the rise in IoMT (Internet of Medical Things). These issues highlight the urgent need for thorough and robust testing methodologies to ensure the reliability and safety of medical devices.

While AI has garnered the attention of many industries, nanotechnology still has not lost its significance in healthcare and life sciences. Promising research continues to drive the exploration of nanotechnology for health and wellness applications. Yet, an often-overlooked element is the crucial role of software testing in this field.

Medical affairs has grown to become a core pillar of the pharmaceutical industry, linking the work of research and development and commercial operations. However, for leaders in the industry, navigating the process and data complexities and communication silos involved can prove challenging.

The Centers for Medicare & Medicaid Services (CMS) has taken a significant step forward in advancing interoperability and improving prior authorization processes with the publication of the CMS Interoperability and Prior Authorization Final Rule (CMS-0057-F).

Accelerate Healthcare and Life Sciences is a one-day virtual event, featuring technology and business leaders from Elevance Health, Ginkgo Bioworks, Datavant and more, to discover executive priorities, best practices and potential data and AI challenges that are top of mind for 2024.

The emergence of digital transformation technologies led to a nationwide change, causing a profound impact on various industries throughout the world. Among the conventional sectors affected by it, the healthcare industry emerged prominently. Interestingly, it not only disrupted but also provided a significant impetus to the healthcare sector, thereby positively influencing the different types of healthcare software and the medical software industry.

A hospital key performance indicator (KPI) is a quantifiable measure that monitors the quality of healthcare provided by the hospital and measures the overall success of the business. Like many other service providers, hospitals depend on their customers (patients) to run their business. However, in order to thrive, they must also operate sustainably and mange costs. A successful hospital runs efficiently, provides life saving services and plays a valuable role in driving public health measures.

In certain sectors, data is not just valuable—it's SACRED. This is especially true in healthcare, where the stakes are incredibly high and the need for precise measures is paramount. In the healthcare sector, data is not just any asset; it's a highly sensitive compilation of patient information that demands the highest levels of privacy, security, and accessibility.

Insurance companies and third-party administrators are increasingly turning to automated data extraction to expedite the processing of medical insurance claims. This approach serves as a better alternative to time-intensive manual claim management. Leveraging AI technology allows them to efficiently extract crucial data from documents, eliminating manual data entry errors and significantly reducing processing times.