NEMT Experts Podcast Episode 1: NEMT Optimized with AI - LIVE from NEMTAC 2023
Bambi CEO Nirav Chheda gave a lively presentation at the NEMTAC 2023 conference that explained with examples about how AI is bringing NEMT scheduling and dispatching into the future.
Some detailed examples included: how statistical models can tell you which trips to accept and reject in order to maximize profit, how software can predict your fleet's capacity to take on new trips, how algorithms can find space for new trips by re-assigning and shuffling around trips among your existing drivers' schedules, and how machine learning can help predict the timing of will-call trips.
Nirav also threw chocolate at people, and a jolly good time was had by all!
For your edutainment, see the talk at https://youtu.be/KoOZJJuYx4E
Please don't forget to subscribe and like NEMT Experts Podcast: https://www.youtube.com/@bambihealth
Podcast Show Notes:
Key Takeaways
- The biggest challenge for NEMT providers is that their costs are increasing while their reimbursement rates are not. This squeezes their profit margins.
- Traditional route optimization software focuses on maximizing the number of trips while minimizing the total distance traveled by the fleet. This approach does not consider profitability.
- AI-based route optimization software can calculate profit at a per trip level by considering various factors such as operating costs, fuel costs, labor costs, and depreciation schedules.
- This allows NEMT providers to make data-driven decisions about whether or not to accept a trip.
- AI can also predict future trip volumes and driver availability, which helps NEMT providers to plan their schedules more effectively.
- Machine learning can be used to analyze historical data on will-call trips (hospital discharges) to predict wait times and appointment lengths, further improving the efficiency of NEMT operations.
