Neurocern Demonstrates $370M in Savings for Medicare and Health Insurance Using Artificial Intelligence and Data Analytics Targeted at Alzheimer’s Disease Drug Eligibility
CHICAGO–(BUSINESS WIRE)–Neurocern announced today a savings outcome of $370M over five years by leveraging artificial intelligence (AI) and neuroinformatics to guide patients to the right Alzheimer’s treatment at the right time.
As new disease modifying treatments for Alzheimer’s disease continue to emerge, Medicare and private health insurance plans need data-driven methods to screen, identify, and guide patients to appropriate treatment pathways.
Using insurance claims and population health data, Neurocern’s AI engine was able to identify eligible patients for new treatments for Alzheimer’s more accurately than a general physician. This data-driven approach reduced time to diagnosis by flagging and routing patients to the best treatment pathway based on U.S. Food and Drug Administration label indications, a triage process that would save insurers more than $370M over five years in claims costs.
“AI has the ability to identify and get patients to treatment faster resulting in better clinical outcomes and significant financial savings for Medicare, private health insurers, and the consumer,” said Dr. Anitha Rao, Founder of Neurocern and a practicing board-certified neurologist.
Results from the study, “Bridging the Gap Between Medicine and Insurance: How to Leverage Data, Artificial Intelligence, and Neuroinformatics for Insurance and Financial Risk Management,” were published in the November 2021 issue of The CAPCO Institute Journal of Financial Transformation, an award-winning publication that is accredited by the American Economic Association. Neurocern presented similar independently validated results from a real-world pilot with Fortune 500 insurance carriers at the Alzheimer’s Association International Conference.
“The ability to generate insights from AI to drive appropriate and cost-effective cognitive health care fills an urgent need, given the paucity of trained subspecialists amidst a growing number of at-need patients. Expert systems powered by semantically normalized, complete and timely clinical data could revolutionize neurocognitive care while reducing costs,” said co-author Dr. Paulo Pinho. Dr. Pinho is Medical Director for Innovation at Diameter Health, a health technology company that normalizes and enriches clinical data for data-driven use cases in health and life insurance, among other sectors.
Neurocern is a minority female physician-founded, and veteran-owned AI and neuroinformatics company that uses clinical analytics to compute data from multiple structured sources, including electronic health records, prescription data, and insurance claims data for clinical and financial insights.