Artificial intelligence (AI) in global healthcare is growing rapidly. He is projected to increase from $20.7 billion in 2023 to almost 2023. $188 billion by 2030 According to data provided by Statista. More advanced wearable technology is being purchased by consumers as retailers like WalmartWMT and AmazonAMZN jump on the healthcare bandwagon across North America.
Promotion by major retailers, etc. CVS and walgreens The speed with which it has been introduced into clinical practice (through VillageMD) and the sector is being integrated has raised concerns about the processing and protection of consumers’ personal data.Lina Khan as Chair of the Federal Trade Commission said in september “Healthcare is not like buying a toaster…It really can make the difference between life and death for people.”
In less than a decade, medical technology has evolved from paper-based records to electronic health records (EHRs) and now to AI tools. While this technology provides consumers with conveniences such as online telemedicine consultations, it can also expose patients and healthcare providers to greater cybersecurity and privacy risks if mishandled.
The healthcare sector is at a crossroads of innovation and responsibility. As AI and large-scale language models continue to grow, cyber-attacks will become a bigger threat. Retail data is important, but health information is sacred, so companies moving into this space must tread carefully.
Protecting data in retail and virtual scenarios
I recently spoke with Hamed Shahbazi, founder and CEO of Well Health Technologies, a digital health player and owner and operator of Canada’s largest healthcare ecosystem, to learn more about patient data protection. Did.
The company is investing heavily in this space as it expects to have 7.5 million care interactions across its retail and virtual platforms this year. Shahbazi — former EY entrepreneur Pacific 2022 — We shared four data integrity and privacy tips that retailers entering healthcare may find useful.
1. Close the loop
Cybersecurity risks arise when information is shared, and AI’s insatiable need for data is a major challenge. In retail, personal data such as credit card and bank account information can be replaced, but personal health information remains forever.
To maximize security, Well Health has brought together nearly all of its healthcare services under one brand, giving you better control and management of your data. Shahbaji describes this as “closing the loop.” “We’ve built a comprehensive ecosystem of tools to make sure each one is secure, from our company’s servers to our clinic’s firewalls,” he said.
To accomplish this, the company built its business around enterprise-grade security controls, including 24/7 monitoring from a central system. Well Health uses data management tools led by four in-house cybersecurity firms to minimize the amount of information that leaves the loop.
Closed systems also make it easier for healthcare professionals to access patient data, share insights, and collaborate across disciplines, streamlining workflows and improving the overall patient experience.
2. Let AI be your best friend
Responsible practice, Shahbazi said, comes down to prioritizing patient and physician safety. “We see AI as an opportunity, but we treat it responsibly. Every decision we make regarding AI is made through his three lenses: security, privacy, and ethics,” he said. I did.
Questions CEOs ask before implementing AI include: Are any of the AI tools we are considering safe to implement? What data clearances will be in place? What guardrails are in place? Are we following appropriate privacy regulations set by regulators? and ethical guidelines?
Shahbazi emphasized: “Medical information is so sensitive that it cannot simply be entered into tools like ChatGPT that retrieve it from public datasets. I have seen it.”
He further added: “We recently announced that we have acquired a majority stake in HealWELL AI, a company focused on improving rare disease identification and optimizing treatment plans. , resulting in better outcomes for patients.”
From assisting with accurate diagnosis to identifying personalized treatment options, AI is enhancing the expertise of healthcare professionals and enabling the delivery of increasingly targeted consumer care that is more personalized and efficient. We support.
3. Data safety cannot be sacrificed
Trust is critical when patients share their most sensitive information. You need to be confident that your information will continue to be protected. Shahbazi commented: “We are responsible for data privacy and take this responsibility very seriously. If we have sensitive or identifying information that could impact future insurance, we will ensure that it We definitely don’t want it to leak.” Therefore, the use of “Red Team”.
Commonly found in highly secure organizations within government agencies and large technology companies, red teams are comprised of specialized cyber technicians who continually attempt to infiltrate or hack into your company and uncover gaps.
Cybersecurity can never be 100% perfect due to the potential for human error, but continuous testing and improvement along with bank- and financial institution-like security provides peace of mind for customers. can do. “We’re investing millions of dollars in this data because we recognize the value of this data in ensuring that some information doesn’t leak out,” he said. I am.
4. Risk management to accelerate growth
Business sectors from retail to restaurants are rapidly transforming with data-driven innovation. The healthcare field is undergoing changes that will revolutionize patient care, research, and operational efficiency. However, companies need to maintain high data safety standards during growth stages, and this is often overlooked, especially during acquisitions.
Shahbazi said: “We see ourselves as a technology and innovation-driven organization. Cybersecurity is there to not only facilitate and enable that, but also to ensure that risks are properly managed. This allows us to move faster and do more creative things. That’s the balance we have to maintain through acquisitions, new features, and technology.”
The CEO described this balance in racing terms. “As cybersecurity experts, we are here to drive the race car of business and innovation. At the same time, we are here to drive the race car of business and innovation. “We need to act as a brake,” he said.
reward for responsibility
Retailers entering the digital healthcare space have an opportunity to drive growth and innovation while maintaining their commitment to patient care, data privacy, and ethical considerations. This data needs to be more protected than regular consumer data for several reasons outlined above.
If considered properly, AI has great potential to facilitate this. Steve Forbes, chairman and editor-in-chief of Forbes Media, wrote: recent articles “AI has the potential to play a huge role in reducing the burden on clinicians and improving the patient experience.” Shahbazi intends to continue implementing AI safely in the race to improve these experiences. “At high speeds, you need responsive and strong control,” he said.
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