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Health Elevate

Elevating healthcare

Bringing new ways of thinking to the healthcare sector.

The UK healthcare system continues to face a multitude of challenges, but I’m encouraged by the level of innovation and technological adoption evident across the sector, which is all helping to promote growth and meet the nation’s health needs.

Steve Fergus

Head of Healthcare, Barclays Corporate Banking

Checking the pulse

30.5 million - Appointments at GP surgeries in May 2024 ref: 1
7.64 million - Cases on the NHS England waiting list as at August 2024 ref: 2
1.66 million - People on the diagnostics waiting list as at May 2024 ref:3

New ideas to solve familiar problems

In his recent independent review, Lord Darzi highlighted some of the key pressures and challenges facing the NHS. These include increasing pressure on services, long waiting times, financial constraints and rising operational costs, as well as workforce shortages and staff burnout.4 That said, Lord Darzi also concludes that although the NHS is in a “critical condition, its vital signs are strong”.

To overcome the NHS’s challenges, the government has proposed three big shifts, ranging from transitioning the institution from analogue to digital, moving care from hospital to the community, and focusing more on prevention rather than just treating illness. These are expected to form part of the government’s ten-year plan for the NHS, which is likely to be published in early 2025.5

Some of the themes highlighted in Lord Darzi’s report may resonate with healthcare businesses striving to adapt for the future. For example, it underscores the importance of collaborating to provide integrated care, and empowering patients to take as much control of their care as possible. It also calls for the need to embrace and leverage technology to simplify and innovate care delivery, enhance patient outcomes and improve productivity.6

To help put a spotlight on collaboration and innovation in healthcare, we recently hosted the inaugural Barclays Health Elevate event, bringing together industry experts, innovators, health and social care providers, academics and health professionals from across the industry.

At the event, we heard how organisations are embracing artificial intelligence and other technologies, collaborating with start-ups to transform care homes, delivering more services through pharmacies, and navigating NHS procurement.

Ethical AI in healthcare

Barclays Eagle Labs Director Amanda Allan hosted a panel discussion exploring how AI can be used to support innovation in healthcare ethically.

We were pleased to be joined by:

Lucy Lehane

Medical Diagnostics Expert at British In Vitro Diagnostics Association (BIVDA)

Professor Henry Potts

Health Informatics at UCL

Dr Sarah Khavandi

NHS Doctor at Kings College Hospital London and Strategic Solutions Manager at Lindus Health

Giles Tully

Founder and CEO of PinPoint Data Science

Transforming healthcare

AI is increasingly being used in all facets of healthcare: “It’s everywhere – from drug discovery, the science behind developing healthcare products and running the clinical trials, through to predictive analytics and clinical decision making, and of course within consumer facing products such as wearables and health related smartphone applications,” says Dr Sarah Kavandi.

To ensure AI is used most effectively, our panellists suggest it’s important to be very clear exactly how it will provide better care and improve patient outcomes, whether through creating efficiencies in the system, improving diagnostic accuracy, or allowing healthcare professionals to better allocate resources.

Imaging is one area in which AI is already having a big impact, providing results faster than a practitioner could. However, Professor Henry Potts cautions that there are some areas where AI doesn’t perform more efficiently than an experienced clinician: “AI won’t necessarily be better – in many cases it is quicker, but we need to ensure it does what it’s designed to do. That’s why evaluation and regulation is crucial.”

Getting the ethical balance right

While there are considerable benefits associated with harnessing the power of AI within healthcare, there is of course also the inevitable risk of doing harm. This raises some important ethical questions about the way AI is used.

“It’s encouraging to see increasing amounts of literature and research on ethics and AI, particularly as it draws on the basic pillars of biomedical ethics: beneficence, non-maleficence, justice and autonomy" explains Sarah.

She adds: “The core principle when you practice medicine is to ‘first do no harm’, and that is what we need to remain focused on as we innovate and develop products using AI.”

It’s also important to consider how much harm could be being caused by current health systems when weighing up the options. Giles Tully of PinPoint Data Science suggests this is part of the case for change: “We need to ask ourselves, ‘what is the ethical problem with doing nothing?’ It’s a balancing act between doing something, or doing nothing, and this is a key ethical consideration in terms of the use of AI in healthcare.”

Clearing up the confusion: privacy and roles

Another ethical question surrounds the use of personal data for AI applications. Lucy Lehane of BIVDA says communication with patients is crucial: “We need to explain how AI will be used, and how it will add value. It’s about taking people on a journey so they understand exactly what’s been collected and why.”

Misunderstandings about what AI is and how it works can also lead to apprehension in terms of healthcare professionals’ roles. Rather than replacing them, Lucy suggests AI can support clinicians by taking on more time consuming tasks and can even increase access to healthcare in areas that don’t have enough trained professionals. For example, AI can help interpret HIV and TB lateral flow tests in under-resourced communities, providing faster access to results and therefore quicker treatment.

“I like to think of AI as the healthcare professional’s supportive friend, helping to streamline processes, promote efficiencies, reduce waiting times, free up resources and ultimately improve outcomes,” Lucy says. “It’s not about role replacement, it’s about making sure healthcare professionals are where they need to be, and can do their jobs more easily, with more attention and more time.”

Dealing with regulatory challenges

While there is broad agreement around the need to regulate AI, the regulatory environment is complex and evolving. “Because technology innovation is so rapid, regulation is struggling to catch up,” Henry explains.

Different jurisdictions also have different rules, and while there is some cooperation between different regulatory bodies, Henry suggests it’s not clear yet whether products developed in one regulatory jurisdiction will be accepted in another. He says: “For example, in the UK, AI rules for medical devices sit with the Medicines and Healthcare Products Regulatory Agency (MHRA), while data privacy sits within the General Data Protection Regulation (GDPR).”

Henry says: “If you get it wrong in healthcare, it can cause harm. It’s not about stifling innovation, but this is a high-reliability field where you have to get things right. Although that may make product development harder, the right checks and mechanisms ensure that innovative solutions can be accessed by the NHS and the wider healthcare system in a way that really adds value for people.”

Looking to the future

While the advent of AI and machine learning brings many unknowns and concerns, there are clear opportunities for these technologies to play a pivotal role across our industry in the future.

The key, as highlighted in this Elevate Healthcare panel discussion, is to ensure that it is always used ethically, with the ultimate purpose of improving healthcare and patient outcomes.

We’re looking forward to supporting our healthcare customers on their AI journeys.

Success in action

Bringing wearable tech to care homes

Bringing wearable tech to care homes

Find out how Hallmark Luxury Care homes and myripple collaborated for success.

How Barclays can help

Whether your business is NHS-based, private or not-for-profit, our dedicated healthcare Relationship Directors and their teams can use their specialist knowledge to support you with your day-to-day activities, long-term strategic goals and on your AI journey.

Find out more about our products and solutions and how Barclays can grow your healthcare or social care business.

Contact us

Get in touch

To discuss your business requirements and how Barclays can support you, contact us today.

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