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Commoditization of services represents a buying opportunity. Is that what's happening in voice transcription.

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today in health, it AWS health scribe. And what that. Sorta tells us about the future. My name is bill Russell. I'm a former CIO for a 16 hospital system and creator of this week health. Instead of channels dedicated to keeping health it staff current and engaged. We want to thank our show sponsors who are investing in developing the next generation of health leaders.

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All right, this is straight from the AWS website. And their press release. AWS announces AWS AWS health scribe, which you probably know by now it came out, , July 26th. And there's been a lot of social media on it. A new generative AI powered service that automatically creates clinical documentation.

And here's what it has to say. , AWS and the Amazon company today at AWS summit, New York announced AWS health scribe, a new HIPPA eligible service that empowers healthcare software providers to build clinical applications that use speech recognition and generative AI to save clinicians time by generating clinical documentation.

With AWS health scribe healthcare software providers can use a single API to automatically create robust transcripts extract key details. And create summaries from doctor patient discussions that can be entered into an electronic health record system powered by Amazon bedrock. AWS health scribe makes it faster and easier for healthcare software providers.

To integrate generative AI capabilities into their applications, starting with two pop popular specialties, general medicine, orthopedics. Without needing to manage the underlying machine learning infrastructure. Or train their own healthcare specific large language model, AWS health scribe enables responsible deployment of AI systems.

By citing the. Source of every line of generated text from within the original conversation transcript, making it easier for physicians to review clinical notes before entering them into the EHR. I built with security and privacy in mind. AWS health scribe gives customers control over where their data is stored encrypt data in transit and at rest, and does not use inputs.

Or outputs generated through the service to train its models. And it goes on and talks about different things. There's three partners that are mentioned specifically in this 3m. Health systems, Babylon and scribe EMR. So that's the announcement. It's, it's much longer than that. You could get it. Anywhere out there. Quite frankly, I got it from the AWS website, from the Amazon website.

And that's what I'm looking at. What I want to do is talk about this space. It's really interesting to me. This space is really interesting. I mean, if you just rewind a little bit. There was really only two viable options out there. There was M modal. And there was nuance and their various, , dragon, , express. You just have a bunch of different, ,

Documentation systems. Then along comes generative AI, and it's completely changing this game and it's changing it very rapidly. And the reason I wanted to talk about this is I think your options are opening up. And the conversations are going to be very dramatically different. Moving forward. We used to have a situation where a lot of this data had to go to a.

, overseas or wherever it went, but it had to go to a bunch of scribes who were looking at it. Even if the computer was doing it, the scribes would have to look at it in order to ensure the. , that it was the validity of the data and the validity of the information that was being sent back. , it was also not as clean in terms of generating that, , that actual note.

Since generative AI since the big boom, well, I'll call, , November timeframe, the big boom of, , open AI and chat GPT. I have seen no less than half dozen solutions that are using chat GPT or some aspects of a large language model to take a conversation between a doctor and a patient and turn that into a.

, very nice readable note, and I've been really impressed with what it has been able to do. , a beautifully authored soap note, critical details. The transcription has gotten so much better. And it's really interesting to see how quickly this is moving. I think the reason I want to talk about this today is not necessarily to bring this up. You guys all know that this is out there. It's.

It's widely. , seen across the press. But it's the say. As the people who are bringing technology and, , introducing technology into our organizations and looking at options. The, when something. Becomes commoditized. And that's what chatty, BT and generative AI are doing for large language models. They're becoming commoditized very quickly and rapidly. They're being used by all sorts of players. And specifically in this area they're being used by several players. It is going to drive down the price of the services in this space.

That's what happens when services get commoditized. And so depending on what you're looking at in terms of a contract right now around these services, You may want to be exploring the different options that are available to you. I talked to a CIO. Last week, who is a, , user of one of the systems that I mentioned earlier.

And they are doing pilots with really small companies that are using generative AI to generate the soap notes because they believe they can drive down the cost. , by almost 75% of what they're paying today. In this space. So keep an eye on this space. It's moving. Again, incredibly fast. And that represents an opportunity. One of the few opportunities we have to reduce our costs.

With regard to the use of software. So it's a interesting time. Interesting opportunity. Just thought I would, , bring it up and, , let that there is an opportunity out there for you to be looking at potentially some new technologies, but also, , renegotiating your contracts and keeping an eye on when there are more options out there that the cost comes down.

That's just a law in economics. Supply and demand. All right. That's all for today. If you know someone that might benefit from our channel, please forward them a note. They can scribe on our website this week, health.com or wherever you listen to podcasts. Apple, Google overcast, Spotify, Stitcher. I'm going to have to stop saying Stitcher, citrus going out of business. If you didn't know.

You get the picture we're everywhere and whoever replaces Stitcher will be there as well. We want to thank our Chell sponsors who are investing in our mission to develop the next generation of health leaders, short test 📍 artist, site, parlance, and service. Now check them out at this week. health.com/today.

Thanks for listening. That's all for now.

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