International Journal For Multidisciplinary Research
E-ISSN: 2582-2160
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A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal
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Volume 6 Issue 5
September-October 2024
Indexing Partners
Economic Impact of AI-driven Precision Medicine (Studying the Economic Implications of AI-powered Precision Medicine Approaches, Including How Personalized Treatments can Influence Healthcare Spending, Patient Outcomes, and Overall System Efficiency)
Author(s) | Sulagna Dhal, Anshul Khairari, Priyabrata Thatoi, Anto LXRA Selvarathinam, Sushree Swapnil Rout |
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Country | United States |
Abstract | AI in precision medicine is considering a major turning point in health care toward personalized treatments per each one's profile, hence playing an important role in patient outcomes while affecting the bottom line in healthcare. This paper examines the economic implications of AI- driven precision medicine, including how the use of AI tools-such as machine learning and predictive analytics-will add to developing treatments tailored to a particular patient's genetics, medical history, and current health data. The study presented underlined economies that could be obtained by avoiding superfluous treatments, reduction in hospital readmission rates, and adverse drug reactions by analyzing the tendencies in healthcare spending. Further, AI enhances the overall efficiency of the health system through speeding up drug development, smoothing clinical processes, and raising the quality of decision-making on patient care. Notwithstanding the brilliant prospects, general acceptance of AI in healthcare systems might be prospective due to high implementation costs, data privacy concerns, and regulatory hurdles. Done differently, AI-driven precision medicine can significantly enhance patient care while lowering long-term healthcare costs. But complete global realization of this dream requires resolution of ethical, financial, and operational challenges. |
Keywords | AI-driven precision medicine, personalized treatment, healthcare economics, AI in healthcare, healthcare expenditure, improvement of patient outcomes, efficiency in the systems, economic consequences of |
Field | Computer > Artificial Intelligence / Simulation / Virtual Reality |
Published In | Volume 6, Issue 5, September-October 2024 |
Published On | 2024-09-22 |
Cite This | Economic Impact of AI-driven Precision Medicine (Studying the Economic Implications of AI-powered Precision Medicine Approaches, Including How Personalized Treatments can Influence Healthcare Spending, Patient Outcomes, and Overall System Efficiency) - Sulagna Dhal, Anshul Khairari, Priyabrata Thatoi, Anto LXRA Selvarathinam, Sushree Swapnil Rout - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.27789 |
DOI | https://doi.org/10.36948/ijfmr.2024.v06i05.27789 |
Short DOI | https://doi.org/g4qmhj |
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E-ISSN 2582-2160
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IJFMR DOI prefix is
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