Latest news with #BabylonHealth
Time Business News
22-07-2025
- Health
- Time Business News
AI Chatbots Transform Healthcare with Smarter Patient Support
Chatbots that operate on the rules of machine learning, which comes under artificial intelligence, besides performing interactions are referred as chatbots, they also perform repetitive tasks such as providing solutions, sending emails, marketing, lead generation, results analysis, etc. The healthcare sector is adopting chatbots to manage high patient volume. Exponential advancements in the field of artificial intelligence are primarily responsible for the growth of the global healthcare chatbots. Key Growth Drivers and Opportunities Technological Advancements in AI and NLP: The AI-powered chatbots are increasingly being integrated into healthcare systems to enhance patient interaction, reduce response times, and improve the overall patient experience. Technological advancements have significantly improved the capabilities of chatbots, enabling them to understand and respond to complex medical queries, offer personalized health advice, and provide real-time support to patients. Ongoing technological progress is driving the adoption of chatbots across hospitals, clinics, and other healthcare settings on global scale. Increasing Demand for Virtual Health Assistants: The virtual health assistants have gained popularity, as healthcare providers seek to enhance patient engagement and satisfaction. These chatbots assist patients with appointment scheduling, and prescription refills and provide primary medical advice, thereby reducing the workload on healthcare staff and improving operational efficiency. Challenges The Chatbots' having access of sensitive patient information raises concerns about data breaches, unauthorized access, and potential misuse of personal health data. Keeping patient information private and secure is absolutely essential, especially considering strict rules such as the Health Insurance Portability and Accountability Act (HIPAA) here in the U.S. To tackle these challenges, healthcare professionals and chatbot creators really need to put strong security practices in place. Need to protect patient privacy and secure health data can act as a restraining factor, potentially slowing down the adoption of healthcare chatbots in the region. Innovation and Expansion Babylon Taps Google Cloud to Scale AI Healthcare Globally In March 2020, Al –powered healthcare Babylon Health has announced a partnership with Google Cloud to drive scalability and innovation. London-based Babylon Health is a digital-first healthcare provider that uses Al and machine learning technologies to help people access health information whenever and wherever they need it. This partnership was all about using Google Cloud's secure setup and top-notch data analysis tools to boost Babylon's digital health offerings. By making the move to the cloud, Babylon Health hoped to make its services better, grow its worldwide operations, and speed up new developments in AI-powered diagnostic tools. HealthTap Launches Low-Cost Virtual Care for Uninsured In February 2025, HealthTap, a leading virtual healthcare provider, announced in May 2021 that it has launched an affordable accessible way for the uninsured and underinsured to establish an ongoing primary care relationship with the doctor of their choice. This service provides virtual primary care appointments for a small monthly cost, making it easier for people in vulnerable situations to get quality healthcare. Patients can choose their preferred doctor and develop strong, ongoing relationships by meeting regularly through these virtual check-ins. The goal is to improve healthcare access for everyone and lessen the need for expensive emergency room visits. Inventive Sparks, Expanding Markets The key players operating the healthcare chatbots includes BABYLON HEALTH, HealthJoy, Health Tap, SENSELY, Lifelink Inc., Buoy Health, Inc, WOEBOT LABS, INC., Wysa, Ltd. Collective goal is to prevent illness by offering proactive, data-driven digital health solutions. About Author: Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business. TIME BUSINESS NEWS
Yahoo
23-03-2025
- Business
- Yahoo
'As a pet insurer, it's often more about impact than profit'
Even as a pet owner over the years, Jean-Philippe Doumeng says it's 'quite surprising' how many people are touched by the flowers and cards his company sends out when a pet dies. 'People struggle to talk about how painful it is to lose a pet, and they're even ashamed to feel that pain,' says Doumeng, co-founder and CEO of premium British pet insurer Napo. 'I'm losing money on that clearly, but it's the right thing to do. It also represents who we are and ultimately, in the long term, we think it will benefit us. Read More: 'I couldn't find a babysitter so I set up a £10m childcare business' 'People know that we care and we care beyond making a buck. Our mission is to just empower millions to become responsible and fulfilled pet parents.' Napo is named after his family's dachshund, Napoleon, who died over five years ago before the company launched in 2021. Today, the London-based insurtech firm has close to 80,000 pets on its books. As one of Europe's fastest-growing pet insurers, it is eying £100m revenue by 2027 and profitability next year. Its pet policies include dental cover, behavioural treatment, educational and preventative support, as well as make-your-own, pet friendly cupcakes for first birthdays. Napo also combines AI-driven efficiency to streamline claims with human empathy — over 60 staff work at its Chelsea headquarters — as Doumeng aims to redefine pet insurance. 'There are no second class citizens at Napo,' adds Doumeng. 'All our client handlers are in the office, everyone is working together to deliver better services." The Parisian-born entrepreneur first moved to the UK 20 years ago to complete his Masters degree before starting an investment banking career, with stints in Amsterdam and New York, and then founding his own digital health platform. Having sold to a publicly listed company in Canada, he led the business development team at Babylon Health under CEO Ali Parsa, where he first got his teeth into the AI movement. He then eyed the insurance vertical and became one of the second wave of disruptors. 'I had some issues with my pet in terms of not really being aware of how much the cost bill can go up to,' says Doumeng, with dachshunds prone to back pain and accruing thousands of pounds in vet bills. 'What we found is the value propositions that were provided by existing players were not really aligned with the new demand." What Doumeng and co-founder Ludovic Lacay also discovered was an evolution in pets becoming 'fully-fledged family members'. 'It is in full swing,' adds Doumeng. 'People are looking to spend more money on their pets and looking to take better care of their pets. Read More: 'CEOs must be seen or face ghosting by Gen Z' 'We realised that existing insurers were not really delivering on that promise. We're upholding transparency. We wanted to come to the market with a product that is much more premium, where the industry tends to race to the bottom from a price perspective. 'People are moving their price down and comparison websites have pushed people towards that competition. We call it a race to the bottom. If you lower your price to win the sale, you end up delivering poor service to the customer.' Doumeng says that Napo aims for a 'holistic approach' to pet insurance, guiding its 'pet parents' beyond insurance and redirecting to partners it trusts. 'We really try to have an impact in the long term and not just year one. We know that certain pets are likely to develop certain diseases or problems at a particular age,' he adds. 'We want to preemptively help take better care of pets through data. Napo' policies range from £200 a year to over £1,000 based on age, breeds and location. Since launch, it has settled over 50,000 claims 'on the frontline' internally rather than opting for the third-party route, with around 250 dog or cat owners receiving over £10,000 in payouts. 'People hopefully will be with us for the next 50 years, with all their pets,' says Doumeng. 'And we have that long-term vision, it's often more about impact than profit.' Read More: 'I would love everyone not be afraid to fail', says Numan CEO He says that word of mouth has contributed to Napo's success as a leading pet insurance player, which has also realised industry award recognition. 'But the truth is, you want to control growth as an insurer,' adds Doumeng. 'If you grow too fast, something is wrong somewhere in the value chain. So you want to find the right balance between growth and profitability. 'We had a backlog in our humble beginnings where we were growing fast. And I don't think we've had any delays in claim payment for the last six months. 'The AI technology angle really helps us to deliver better services and to reduce cost of servicing is to find that right balance.' How I lead I absolutely believe that a healthy work-life balance is important to deliver in the long term and I'm showing that on a daily basis. I have two young kids and of course I work hard but finding the right balance is important. I think I've been home almost every night to put them to bed since we started, to the exception of a few rare cases. You have to trust and empower yourself as a leader. Everything we've built is more towards output than inputs. We try to be a good employer. And I really mean it because I don't believe in short-term burning people to deliver. Read more: 'I went to a board meeting days after nearly dying but I soon saw my purpose' Meet the CEO responsible for selling London to the world 'Want to grow an iconic brand? CEOs have to value CMOs as servant leaders'Sign in to access your portfolio
