scholarly journals A Systematic Review of Economic Impact Studies of Artificial Intelligence in Healthcare (Preprint)

2019 ◽  
Author(s):  
Justus Wolff ◽  
Jan Baumbach ◽  
Josch Pauling ◽  
Andreas Keck
Keyword(s):  
Artificial Intelligence ◽  
Economic Impact ◽  
Quality Criteria ◽  
Second Step ◽  
Impact Studies ◽  
Economic Impact Assessment ◽  
Cost Impact ◽  
Economic Impact Studies ◽  
Effectiveness Studies

BACKGROUND Positive economic impact is a key decision factor in making the case for or against investing in an artificial intelligence (AI) solution in the healthcare industry. It is most relevant for the care provider and insurer as well as for the pharmaceutical and medical technology sector. Although the broad economic impact of digital health solutions in general has been assessed many times in literature and also the benefit for patients and society has been analyzed, the specific economic impact of AI in healthcare has been addressed only sporadically. OBJECTIVE To systematically review and summarize cost-effectiveness studies dedicated to AI in healthcare, and to assess whether they meet established quality criteria. METHODS In a first step, the quality criteria for economic impact studies were defined based on established and adapted criteria schemes for cost impact assessments. In a second step, a systematic literature review based on qualitative and quantitative inclusion and exclusion criteria was conducted to identify the relevant publications for an in-depth analysis of economic impact assessment. In a final step, the quality of the identified economic impact studies was evaluated based on the defined quality criteria for cost-effectiveness studies. RESULTS Very few publications have thoroughly addressed economic impact assessment and the economic assessment quality of according AI publications shows severe methodological deficits. Only six out of 66 publications could be included in the second step of the analysis based on the inclusion criteria. Out of these six studies, none comprised a methodologically complete cost impact analysis. There are two areas for improvement: First, initial investment and operational costs for the AI infrastructure and service need to be included. Second, alternatives to achieve similar impact must be evaluated to provide a comprehensive comparison. CONCLUSIONS The systematic literature analysis proved that existing impact assessments show methodological deficits, and that upcoming evaluations require more comprehensive economic analyses to enable economic decisions for or against implementing AI technology in healthcare.

scholarly journals Systematic Review of Economic Impact Studies of Artificial Intelligence in Health Care

10.2196/16866 ◽  
2020 ◽  
Vol 22 (2) ◽  
pp. e16866 ◽  
Author(s):  
Justus Wolff ◽  
Josch Pauling ◽  
Andreas Keck ◽  
Jan Baumbach
Keyword(s):  
Health Care ◽  
Economic Impact ◽  
Quality Criteria ◽  
Second Step ◽  
Impact Studies ◽  
Economic Impact Assessment ◽  
Cost Impact ◽  
Economic Impact Studies ◽  
Effectiveness Studies

Background Positive economic impact is a key decision factor in making the case for or against investing in an artificial intelligence (AI) solution in the health care industry. It is most relevant for the care provider and insurer as well as for the pharmaceutical and medical technology sector. Although the broad economic impact of digital health solutions in general has been assessed many times in literature and the benefit for patients and society has also been analyzed, the specific economic impact of AI in health care has been addressed only sporadically. Objective This study aimed to systematically review and summarize the cost-effectiveness studies dedicated to AI in health care and to assess whether they meet the established quality criteria. Methods In a first step, the quality criteria for economic impact studies were defined based on the established and adapted criteria schemes for cost impact assessments. In a second step, a systematic literature review based on qualitative and quantitative inclusion and exclusion criteria was conducted to identify relevant publications for an in-depth analysis of the economic impact assessment. In a final step, the quality of the identified economic impact studies was evaluated based on the defined quality criteria for cost-effectiveness studies. Results Very few publications have thoroughly addressed the economic impact assessment, and the economic assessment quality of the reviewed publications on AI shows severe methodological deficits. Only 6 out of 66 publications could be included in the second step of the analysis based on the inclusion criteria. Out of these 6 studies, none comprised a methodologically complete cost impact analysis. There are two areas for improvement in future studies. First, the initial investment and operational costs for the AI infrastructure and service need to be included. Second, alternatives to achieve similar impact must be evaluated to provide a comprehensive comparison. Conclusions This systematic literature analysis proved that the existing impact assessments show methodological deficits and that upcoming evaluations require more comprehensive economic analyses to enable economic decisions for or against implementing AI technology in health care. Trial Registration

scholarly journals The Use Of Economic Impact Studies As A Service Learning Tool In Undergraduate Business Programs

2004 ◽  
Vol 1 (11) ◽  
Author(s):  
John M. Misner
Keyword(s):  
Service Learning ◽  
Economic Impact ◽  
Business Students ◽  
Economic Benefits ◽  
Business Programs ◽  
Impact Studies ◽  
Effective Manner ◽  
Economic Impact Studies ◽  
Service Learning Projects ◽  
Learning Projects

This paper examines the use of community based economic impact studies as service learning tools for undergraduate business programs.  Economic impact studies are used to measure the economic benefits of a variety of activities such as community redevelopment, tourism, and expansions of existing facilities for both private and public producers.  Economic impact studies when structured as service learning projects provide an experiential learning environment for business students, affording them with the opportunity of applying the knowledge and skills learned in the classroom while at the same time engaging in community service.  Such projects can expose students to the importance of corporate social responsibility and help involved faculty to remain current in their fields of expertise while providing pedagogical and practice oriented avenues for research.  Clients gain access to expertise in a cost effective manner.  When done effectively, service learning projects in undergraduate business programs generate goodwill and favorable publicity while helping academic institutions meet mission statements and address specific accreditation standards.

Costs: The Rest of the Economic Impact Story

2013 ◽  
Vol 27 (5) ◽  
pp. 379-392 ◽  
Author(s):  
John L. Crompton ◽  
Dennis R. Howard
Keyword(s):  
Economic Impact ◽  
Opportunity Cost ◽  
Return On Investment ◽  
Property Taxes ◽  
External Costs ◽  
Maintenance Costs ◽  
Capital Costs ◽  
Impact Studies ◽  
Operations And Maintenance ◽  
Economic Impact Studies

Economic impact studies are frequently commissioned to justify investments in sport projects. However, decisions also should include a consideration of a project’s costs since it is the net return on investment that should drive decisions. Whenever taxpayer funds are expended on a sports project there is an opportunity cost. Three types of opportunity cost are discussed. Explicit costs are those for which a government entity “writes a check.” They are comprised of event costs, land and infrastructure costs, and operations and maintenance costs. Implicit costs are those which remain “hidden” from most taxpayers: foregone property taxes, strategic underestimation of capital costs, displacement costs, and an inequitable nexus between payers and beneficiaries. External costs are those incurred by taxpayers beyond the boundaries of a local jurisdiction.

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