Siemens Healthineers testifies before Senate Committee on finance on the promise and pitfalls of AI in healthcare

February 09, 2024
Siemens Healthineers, a global leader in medical technology and in researching and training artificial intelligence for use in this field, is testifying today before the Senate Committee on Finance. The hearing, "Artificial Intelligence and Health Care: Promise and Pitfalls," is focusing on the use of algorithms and AI systems in healthcare. Today’s testimony highlights the major obstacle to AI adoption in healthcare: reimbursement.

Siemens Healthineers has been working on applying AI in medical technology for more than 20 years and has more than 80 products on the market cleared by the Food and Drug Administration with elements of AI that represent groundbreaking innovations for patients.

Peter Shen is representing Siemens Healthineers as head of Digital & Automation for North America. Shen previously testified before the House of Representatives Committee on Energy and Commerce in November 2023 about the company’s AI technology, its quality assurance and regulatory processes, and its protocols to de-identify and protect patient data.

“The Centers for Medicare & Medicaid Services has acknowledged that artificial intelligence has the potential to increase access to care, improve outcomes, and reduce overall costs to the Medicare program. We agree—and we’ve observed the main barrier to AI adoption is payment inconsistency," said Shen. “Incentivizing innovation, adoption, and access to AI technologies requires a consistent, predictable reimbursement approach.”

About the AI Development Approach of Siemens Healthineers
Siemens Healthineers builds algorithms designed to be reliable, accurate, and unbiased, with a focus on protecting the patient. To support the development of reliable AI algorithms that are reflective of the patient populations to which they will be applied, Siemens Healthineers maintains a holistic view of the patient. Its high-quality AI training data is based on a balanced cohort of people of different ages, genders, ethnicities, healthy people, and those who are sick.

About Siemens Healthineers
Siemens Healthineers pioneers breakthroughs in healthcare. For everyone. Everywhere. Sustainably. The company is a global provider of healthcare equipment, solutions and services, with activities in more than 180 countries and direct representation in more than 70. The group comprises Siemens Healthineers AG, listed as SHL in Frankfurt, Germany, and its subsidiaries. As a leading medical technology company, Siemens Healthineers is committed to improving access to healthcare for underserved communities worldwide and is striving to overcome the most threatening diseases. The company is principally active in the areas of imaging, diagnostics, cancer care and minimally invasive therapies, augmented by digital technology and artificial intelligence. In fiscal 2023, which ended on September 30, 2023, Siemens Healthineers had approximately 71,000 employees worldwide and generated revenue of around €21.7 billion.