Healthcare tends to lag behind other verticals when it comes to digital transformation, but the gap is particularly pronounced when comparing payers to organizations in other information-intensive industries such as banking and general insurance . The need to catch up has never been greater, as healthcare costs continue to rise faster than government reimbursement rates .

If payers are to create the efficiencies that will empower them to maintain (or even grow) their margins amidst an uncertain economy, adopting automation and AI can no longer be seen as optional. According to a recent analysis by McKinsey & Co. , AI solutions could save $150 to $300 million in administrative expenses and reduce medical costs by $380 to $970 million for every $10 billion in payer revenue

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