AI Could Unlock Billions in Healthcare Savings for Canada, If Implemented Thoughtfully
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AI technologies like machine learning and natural language processing could generate between 4.5-8% in annual healthcare savings in Canada (up to $26 billion) by improving quality of care, optimizing system management, reducing administrative tasks, etc.
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Capturing this potential is challenging and risks need to be mitigated related to patient safety, clinician support, technology infrastructure, data governance, and more.
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Critical steps include establishing national standards, assessing value with scaling in mind, and building trust by preparing staff and patients.
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Investments should ensure adequate data governance, risk management, and public-private partnerships to complement healthcare system capabilities.
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If integrated thoughtfully, AI could significantly enhance population health and system affordability, but this requires collaboration across public and private institutions at a national scale.