Health insurers are increasingly using artificial intelligence (AI) to improve efficiency and reduce costs. They have started hiring talent to implement this technology across their organizations. However, they have not disclosed specific details about the models being used, how they were developed, or their exact purpose.
Centene is one of the health insurers that has invested in AI and machine learning to enhance the health of its members and manage healthcare costs. The insurer covers over 28 million Americans and believes that its broad reach in government-sponsored programs allows it to develop predictive health outcome models using data.
Several publicly traded health insurers like Elevance, Molina, and Cigna are also investing in AI to save money. Elevance, in particular, has hired nearly 500 people to work on AI initiatives. Despite these investments, the insurers have been reluctant to provide further information on their AI strategies.
Overall, health insurers are recognizing the potential benefits of artificial intelligence in achieving their business goals and serving their members more effectively. By leveraging AI technologies, they aim to streamline operations, reduce costs, and improve health outcomes.