UnitedHealth Group subsidiary Optum is launching AI Marketplace, a healthcare-specific artificial intelligence platform that's meant to accelerate AI adoption among payers, providers and healthcare technology companies.
The new marketplace seeks to simplify AI integration across clinical and administrative systems, and Optum said it will feature a centralized, healthcare-specific ecosystem of curated solutions and APIs that are ready to implement.
That's expected to help organizations streamline operations, reduce integration costs and scale AI adoption, said Optum.
WHAT'S THE IMPACT
The company said users will be able to find a wide range of applications, including eligibility, claims, engagement, care management, data access and analytics.
By leveraging standardized APIs and development tools, Optum claims developers will be able to build more efficiently and accelerate speed to market, while also benefiting from quick sandbox access to test solutions before full implementation.
Optum added that the marketplace will allow access to applications that protect sensitive health information and promote ethical practices through curated, compliant AI technology with reduced integration costs and faster adoption.
Microsoft, Google, ServiceNow and Optum itself will be featured in the marketplace, the company said.
The healthcare industry continues to face challenges with inefficient data management and administrative burden, leading to nearly $1 trillion of U.S. health care expenditures, a McKinsey and Co. report found. These inefficiencies result in fragmented care and medical errors prompting many healthcare organizations to implement generative AI capabilities.
By expanding access to AI solutions, healthcare organizations can reduce implementation costs and fuel faster innovation across the industry, said Optum.
THE LARGER TREND
Dr. Patrick Conway was named new Optum CEO in May.
The change came on the heels of a disappointing first quarter for UHG. While the insurer pulled in $6.29 billion in profit during Q1 – a dramatic turnaround from the $1.41 billion loss it reported in Q1 2024 – "heightened care activity indications" in its Medicare Advantage business cropped up, particularly in physician and outpatient services. This led the company to cut its outlook to net earnings of $24.65 to $25.15 per share for the year, and adjusted earnings of $26 to $26.50 per share (down from $28.15 to $28.65 and $29.50 to $30, respectively).
Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.