How AI will transform healthcare payments - An Interview with Mike Desjadon on CNBC’s The Exchange

June 5, 2024
While appearing on CNBC’s The Exchange, Mike Desjadon, CEO of Anomaly, shared insights into how his company uses artificial intelligence (AI) to tackle the inefficiencies and costs in healthcare.

The Complexity of U.S. Healthcare

Desjadon highlighted the extraordinary complexity of the healthcare system, particularly its reliance on coding and claims. The U.S. is unique in requiring clinicians to justify procedures to payers—whether insurers or the government—through a labyrinth of codes. With 4.5 trillion combinations of codes in use, the system is riddled with inefficiencies that delay care and obscure costs.

AI’s Role in Creating Transparency

Anomaly’s AI-driven platform connects directly to healthcare providers' data systems to interpret claims, analyze how payers respond to codes, and anticipate approval or denial outcomes. This creates transparency by helping providers understand in advance what insurers will cover. By identifying discrepancies between expected and actual payments, Anomaly ensures providers are accurately reimbursed while reducing administrative burdens.

Reducing Administrative Costs

Administrative costs in the U.S. healthcare system account for $300 billion annually. Desjadon compared this process to “cogs in a broken wheel,” where inefficiencies pile up through layers of third-party interactions and paperwork. By streamlining these transactions with AI, Anomaly helps providers avoid costly delays and missteps, ultimately driving down overall system costs.

The Consumer Experience

While Anomaly's current focus is business-to-business, Desjadon envisions a future where consumers directly benefit from improved accuracy and transparency. He described a scenario where patients could know upfront what their insurance covers and what they owe, akin to shopping for groceries where prices are clear at checkout. For now, Anomaly works behind the scenes to ensure the billing process is seamless for patients.

A Healthcare System Without Claims

Looking ahead, Desjadon outlined his vision for a healthcare system without claims—a revolutionary model where procedures and payments are seamlessly handled without the need for back-and-forth paperwork. This would make the process more transactional and transparent, where patients know exactly what they’re getting and how much it will cost before undergoing a procedure.

The Road Ahead

Desjadon remains optimistic about the role of AI in transforming healthcare. By addressing inefficiencies, increasing transparency, and leveraging data in innovative ways, Anomaly aims to create a more equitable and functional healthcare system for providers and patients alike. While the ultimate vision of a claims-free system may take time, Desjadon believes it’s a feasible and necessary goal within the next five years.