Race to Value – The Next Moneyball: AI in Value-Based Care
Andrew Eye, founder and CEO of ClosedLoop, explains why ClosedLoop is an exemplar in the race to value.
On this episode of The Race to Value Podcast, Andrew Eye, founder and CEO of ClosedLoop, explains why ClosedLoop is an exemplar in the race to value. He discusses how ClosedLoop.ai was founded, how the team beat out the world’s leading technology and healthcare organizations to win the CMS AI Health Outcomes Challenge, the importance of explainable AI in healthcare, and much more.
In healthcare, we are overdue for a “Moneyball” revolution. The shift towards value-based payment has made it clear that our system needs to do a better job generating outcomes that matter to patients — a positive healthcare experience, improved health, and good quality of life. The machine learning techniques used to algorithmically determine a player’s value were light-years ahead of the archaic methods used in baseball up to that point. Similarly, many of our conventions in delivering care come from an era when healthcare was delivered primarily by doctors and nurses with elite training whose success depended mostly on content expertise. A key component of value-based transformation in healthcare will be artificial intelligence. Without AI, medicine will never advance to a state where the totality of a patient’s data can be used to find predictive signals that will lead to enhanced treatment and population health interventions that improve outcomes.