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Business Insider·3 min read·medium

Myriad Genetics rebuilt its AI platform after costs ballooned. Now, it can process documents in seconds.

Myriad Genetics rebuilt its AI platform after costs ballooned. Now, it can process documents in seconds.
✦AI Summary

Myriad Genetics partnered with Amazon Web Services to rebuild its AI-powered document processing platform, Image Genius. The transition to Amazon Bedrock significantly reduced processing time per document and lowered operational costs for the diagnostic testing company.

Why it matters

This highlights the practical application of generative AI in streamlining complex administrative and billing workflows in the healthcare sector.

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Every year, Myriad Genetics processes an estimated 1.5 million diagnostic tests. Courtesy of Myriad Genetics Myriad Genetics used AI to speed up document processing, but the tool was expensive and too slow. AWS worked with Myriad to rebuild the tool, called Image Genius, using Amazon Bedrock. Image Genius now saves some of Myriad's staffers 300 hours each month. Myriad Genetics processes an estimated 1.5 million diagnostic tests annually, including screening for hereditary cancer and prenatal conditions, tumor profiling, and assessments of how genes may affect the body's response to mental health medications. It can take months for the Salt Lake City-based molecular diagnostic testing company to process all the paperwork necessary to get paid, a process known as revenue cycle management, which requires health organizations like Myriad to dedicate staff to software, medical coding , and regulatory compliance to manage billing for medical services.

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