Health insurers are telling shareholders that they are ramping up the use of artificial intelligence and are hiring talent to implement the technology across their organizations. They say their artificial intelligence models can increase efficiency and “cut costs,” but they refused to discuss what models they’re using, how those models were developed, or exactly what they’re using them for.
Centene, for instance, says, it is “investing in artificial intelligence and machine learning technologies to improve the health of our members and contain rising healthcare costs.” The insurer, whose plans cover more than 28 million Americans, noted that its large footprint, particularly in government-sponsored programs, puts it “in a unique position to use data to develop models that predict a wide range of health outcomes.”
A STAT review of regulatory filings from publicly traded health insurers showed that several of them, including Elevance, Molina, and Cigna, are investing in AI with the goal of saving money. Elevance has hired nearly 500 people to work exclusively on AI. However, all five of the insurers STAT contacted declined to elaborate on how they are using AI.
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