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Cover Story: Digital Diagnostics: Committed to Ethical AI Healthcare


        Continued from page 1                to change what they were                                                   Its acquisition of 3Derm allows Digital
        Chief Executive Officer at Digital   doing to accommodate the                                                 Diagnostics to use telemedicine to do
        Diagnostics.                         AI’s idiosyncrasies.”                                                    early diagnosis of skin cancers including
          “This included designing autonomous   There are various ways to                                             melanoma, basal and squamous cell car-
        AI algorithms that minimize racial, eth-  design algorithms for auton -                                       cinoma. As part of the Digital Diag -
        nic and other undesirable biases, unique-  omous AI. The company’s                                            nostics autonomous AI platform, it also
        ly accepting full accountability including   patented approach differs                                        allows high-quality capture of skin
        legal liability for its AI performance, and   from the others, as it starts                                   images and a diagnosis in minutes, also
        ensuring that its AI’s improve patient   with an analysis of how clini-                                       in a primary care setting.
        outcomes,” Dr. Michael Abramoff says.   cians’ brains make their diag-                                           Looking ahead, Bertrand says that the
        “As such, democratizing access to high   noses, and then it can maxi-                                         company is focused on growing its install
        quality care is inherent in what we do   mize the robustness and the                                          base and continuing to find strong com-
        and foundational to eliminating dispari-  performance of such biologi-                                        mercial partners to build meaningful
        ties in health care.”                cally inspired algorithms.     John Bertrand         Seth Rainford       future AI’s.
          Additionally, most healthcare AI com-  “To that end, what we offer                                            “We have a lot of interest in our plat-
        panies focus on adding very small effi-  is not ‘black box AI’ but something that is   Rainford.  “IDx-DR is an AI system that   form approach and will be adding addi-
        ciency gains back into the system. With   explainable and yields very high quality,   allows any minimally trained high school   tional autonomous AI’s to it deliberately,
        its solution making autonomous diag-  unbiased results,” adds Dr. Michael   graduate to take high-quality images of the   where we can improve outcomes, lower
        noses, Digital Diagnostics genuinely   Abramoff.                         patient and have the AI diagnose them,   costs, and create better experiences for
        adds time, resources, and taxpayer dol-  One of the company’s newest technolo-  generally without pharmacologic dilation,   patients and providers,” he says.
        lars back into the system, notes President   gies is its IDx-DR which helps to diagnose   for a total exam time between 5 and 10   “Ultimately, we want to continue to find
        and COO Seth Rainford.               diabetic retinopathy and macular edema   minutes.”                       ways to democratize access to high qual-
          “We also validate our AI’s in the front-  through an eye exam. IDx-DR is commer-  After completing a rigorous prospec-  ity care by automating routine tasks and
        lines of care including primary care work-  cially available today and in many well-  tive, preregistered clinical trial at pri-  enabling both providers to spend time on
        flow, to demonstrate real-world benefits to   known academic medical centers and   mary care sites across the country, IDx-  top of license work while also getting
        patients,” he says. “We wanted to be sure   community hospital systems.    DR became the first FDA-cleared AI diag-  patients earlier treatment.”
        our platform AI’s fit with how providers   “It’s also in large group practices,   nostic system to make a diagnosis with-
        already practice, rather than forcing them   FQHC’s, and in the retail setting, says   out physician input.     For more information, visit https://dxs.ai/.




         Cover Story:  Rising Reinsurance Rates to Affect Already Hardening

         Malpractice Insurance Market

         Continued from page 1                                                    insurance market, reports that in 2020, the   ture for the policy holders with some of
         large, stable malpractice insurers buy less   cases and settlements because of COVID,   medical insurance sector is running at 120   the state guarantees out there.”
         reinsurance because they have a lot of   particularly in states that have not enacted   percent combined ratio—in other words,   He also suggests that policy holders
         money, but in years like this, it could mean   COVID legal liability immunities.   for every dollar an insurance company col-  research the companies insuring them,
         that they’ll have a more difficult time   While the federal government is trying   lects in premiums, on average, it is paying   and if there are any red flags, move to
         because they didn’t buy as much reinsur-  to negotiate COVID-immunity protections   out $1.20 for claims and expenses.    stronger, bigger companies as soon as they
         ance as their smaller competitors.”   for businesses, including those in the   “When you’re selling $10 hammers for   can.
          As a result, reinsurance companies in   healthcare sector, this hasn’t yet happened   $8, it’s hard to make up on volume,” said   “Over the last 13 years, smaller compa-
         the marketplace will soon be raising their   on a federal level, and a limited number of   Gracey, adding that because it is a very   nies have competed with lower pricing,
         rates, and these added costs—built into   states have enacted them across the coun-  competitive market, prices are being driv-  which creates instability,” Gracey said.
         insurance policy premiums—will be   try.                                 en down to unsound actuarial levels.   “They aren’t collecting enough premiums
         passed down from the insurance company   “If we can get some COVID immunities,                                to cover their losses and expenses. The
         to policy holders.  These rate increases will   and if the public’s goodwill toward medical   Protect Yourself   bigger companies can weather these losses
         add to issues already facing the hardening   professionals continues, there is some   In order to best weather the storm,   and slowly raise their rates to make them
         market, including COVID, of course, and   hope that rates will not rise as quickly as   Gracey recommends that health profes-  actuarily sound and fair, while smaller
         recent high jury awards and settlements in   they could,” Gracey says. “But when a   sionals make sure that they are insured by   companies hold out as long as they can
         the $1 million and above range.     major insurance industry player like   a financially sound insurance company.    and then either “exit left” through insol-
          “There are many, many more million-  Lloyd’s of London comes out with terrible   “The bigger, the better in these harder   vency or purchase, or raise their rates dra-
         dollar cases being settled and adjudicated   news like this, even if some other insurers   market conditions,” he said. “The smaller   matically. Either option isn’t good.”
         than ever before, and the entire industry is   are faring better, it will still drive prices   insurers are already having troubles; some
         now suffering because of these losses,”   higher as this ripples around.”   have already been declared insolvent and   For more information, contact Tom Murphy
         said Gracey, adding that the industry   According to Gracey, AM Best, the gold   some are selling to bigger companies. In   or Matt Gracey at (800) 966-2120 or visit
         expects to see even more losses in court   standard of rating agencies in America’s   the case of insolvency, it’s not a pretty pic-  www.dannagracey.com.




































        South Florida Hospital News                                                              southfloridahospitalnews.com                                                         October 2020                          13
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