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40% of pharma executives are baking expected savings from Generative AI into 2024 budgets

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New survey from Bain & Company shows pharma executives are moving beyond AI experimentation to organization-wide scaling 

NEW YORK, Feb. 12, 2024 /PRNewswire/ — The generative artificial intelligence (AI) transformation is well underway in pharma, and pharma companies have high confidence in its value. Already, 40% of executives say they are baking expected savings into their 2024 budget, and 60% have set targets for cost savings or productivity boosts, according to a recent Bain & Company survey.

Nearly 60% of executives say that they have moved beyond ideation and brainstorming to building out use cases, with 55% reporting they expect to have multiple proof-of-concept or minimum viable product builds by the end of 2023.

“Over the next six to twelve months, leading companies will move from cultivating isolated pilots to scaling for results,” said Eric Berger, a partner in Bain & Company’s Healthcare & Life Sciences practice. “As leadership teams move beyond experimentation into pilots and launches, they are thinking carefully about when and how to communicate their AI journeys to investors. Those that can signal a structured, scalable enterprise-wide program, rather than a smattering of standalone initiatives, will reap the rewards in the next phase of AI.”

Data science and machine learning are not new to pharma executives who have been investing in productivity enhancements for years, primarily in the drug discovery space. Bain research shows 54% of pharma companies have automated biomedical literature review solutions, and 46% are using AI as part of their process to find potential disease targets. Now, generative AI is broadening the aperture of use cases with new opportunities across the value chain. Biomedical literature review and preclinical research remain among the most popular use case areas, although we’re also seeing high investment in IT and competitive intelligence. Within these top areas, more than 60% of executives say they have at least a proof of concept in development, and around 10% have already rolled out tools. These early adopters have moved swiftly, often reaching a working pilot within about eight weeks. Already, many are seeing tangible value.

Generative AI is top of mind for most pharma companies, with 75% citing it as a C-suite and board priority. And investors are watching closely to differentiate the pioneers from the followers. If pharma companies want to generate value from generative AI as fast as the technology allows, they need to ensure the organization is ready. Companies can take a three-tiered approach to prime their operating model for generative AI at scale:

Determine your strategic posture. Leading organizations will establish decision-making and funding models that prioritize high-return use cases, ensuring that those use cases fit within their investment themes around bold bets for the future of the business.Lead through change. Generative AI at scale requires strong internal leadership and cross-functional alignment. The best companies will establish an organizational center of gravity with several executives who act as generative AI champions.Build the foundations. In addition to the right technology, data, and models, generative AI at scale requires reorienting the organization to support big visions. This includes recruiting aggressively for data scientists to work on AI initiatives, building strategic partnerships with external vendors for support, and thoughtfully engaging on ethics and regulation by going a step further with a companywide risk management approach.

Editor’s Note: To arrange an interview, contact Katie Ware at katie.ware@bain.com or +1 646 562 8107. 

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.

Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.

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MedTrainer Unveils AI Compliance Coach — Instant, Trusted Answers for Healthcare Teams

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MedTrainer introduces AI Compliance Coach — a powerful, built-in chatbot that blends regulatory expertise with AI intelligence to deliver instant, accurate answers to compliance questions within the workflows teams already trust.

LAS VEGAS, May 21, 2025 /PRNewswire-PRWeb/ — MedTrainer, a leading provider of healthcare workforce compliance solutions, introduces AI Compliance Coach — a powerful, built-in chatbot that blends regulatory expertise with AI intelligence to deliver instant, accurate answers to compliance questions within the workflows teams already trust. It’s the latest step in MedTrainer’s mission to incorporate AI that adds real value — helping compliance teams work faster, with more clarity, and less administrative strain.

“The AI-powered Compliance Coach blends regulatory expertise with forward-thinking technology to give users immediate access to the specific information they need — not just in theory, but in practice,” said Brian Williams, MHA, MBA, Vice President of Compliance at MedTrainer.

“We built the AI Compliance Coach to solve a very real problem for healthcare organizations — getting the right answer, at the right time, without adding to the administrative burden,” said Steve Gallion, CEO of MedTrainer. “It’s not just about speed; it’s about confidence. Our goal is to give compliance teams a reliable, in-platform resource that makes their work easier and faster, and help them stay on top of evolving regulations.”

This launch reflects MedTrainer’s broader commitment to using intelligent automation to strengthen accuracy, streamline workflows, and expand the value of its compliance platform. By embedding automation where it matters most, MedTrainer is building a smarter system that helps healthcare organizations stay audit-ready.

AI Compliance Coach Gives Healthcare Teams Instant Answers

The AI Compliance Coach delivers fast, trusted compliance information sourced from official regulations. Built on a secure large language model (LLM), it uses Chain of Thought reasoning developed by MedTrainer’s internal compliance team to analyze each question and return accurate, detailed guidance that’s easy to act on.

Healthcare teams can ask a wide range of questions, such as:

What are the latest CMS regulations for use of restraints in skilled nursing facilities?What are the sharps disposal requirements?How do I comply with E-Tags to avoid deficiencies?What are the best practices for preventing healthcare-associated infections?

The LLM has been trained and tested by MedTrainer’s compliance experts to ensure that responses are specific, relevant, and aligned with what healthcare organizations actually need when seeking regulatory clarity. Answers are tailored to the user’s facility type and operational context, helping ensure the guidance they receive is immediately applicable. Whether identifying required training or clarifying a policy, the AI Compliance Coach helps teams move forward with greater clarity and fewer delays.

“The AI-powered Compliance Coach is designed to give users immediate access to the specific information they need — not just in theory, but in practice,” said Brian Williams, MHA, MBA, Vice President of Compliance at MedTrainer. “We’ve engineered the responses to pull from real standards and get to the point quickly with embedded connections to platform resources.”

Faster, Trusted Answers for Everyday Compliance Needs

The AI Compliance Coach brings immediate clarity to the day-to-day work of compliance. Embedded within MedTrainer’s healthcare compliance management system, it delivers fast, trustworthy answers based on current federal regulations — right when users need them. Instead of interpreting policies or consulting multiple sources, teams get clear, actionable guidance in one place.

This efficiency translates to more time for critical tasks and fewer interruptions in daily workflows. By removing complexity from compliance questions and enabling faster decisions, the AI Compliance Coach empowers healthcare professionals to work with greater speed, confidence, and focus.

Customers continue to have the same level of access to MedTrainer’s award-winning customer support agents, available through phone and email. The combination of the AI Compliance Coach and live customer support offers customers with the best of both words to meet their compliance needs.

MedTrainer Continues To Expand AI Footprint

Earlier this month, MedTrainer released AI Upload Assistant, bringing the accuracy and power of AI to provider document management. Looking ahead, MedTrainer is rapidly releasing additional AI enhancements that are designed to eliminate manual work and boost accuracy across credentialing and compliance operations.

Additional AI advancements are already deep in development and nearing release and you will soon hear about these innovations. Together, these enhancements reflect MedTrainer’s commitment to combining expert-built technology with AI capabilities and intelligent automation that solves real problems for healthcare organizations.

Learn more about how MedTrainer’s is reducing friction in healthcare credentialing and compliance through next-generation technology.

About MedTrainer

Established in 2013, MedTrainer’s proven compliance platform accelerates and simplifies healthcare workforce compliance, now equipped with AI-enhanced efficiency. The natively-built software platform helps small and medium-sized healthcare organizations save time, reduce risk, and increase revenue through effective management of workforce compliance. MedTrainer’s all-in-one integrated technology solution delivers credentialing, training, and compliance workflows to manage business critical activities that meet regulatory and industry standards. Backed by Telescope Partners and Vista Equity Partners, MedTrainer is used by over 300,000 healthcare professionals at more than 15,000 healthcare sites across the United States.

Media Contact

Vince Koehler, MedTrainer, 1 888-337-0288, vince.koehler@medtrainer.comhttps://medtrainer.com/

Todd Scott, MedTrainer, 1 888-337-0288, todd.scott@medtrainer.comhttps://medtrainer.com/

View original content to download multimedia:https://www.prweb.com/releases/medtrainer-unveils-ai-compliance-coach–instant-trusted-answers-for-healthcare-teams-302461383.html

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Talkiatry Surpasses 2 Million Patient Visits and Expands Psychiatrist Workforce to Over 600

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Milestones highlight Talkiatry’s dedication to positive clinical outcomes, as more and more patients seek high-quality care from its full-time licensed psychiatrists

NEW YORK, May 21, 2025 /PRNewswire/ — Talkiatry, the leading national provider of in-network psychiatric care, today announced it has reached two million patient visits since its launch in 2020, doubling its one million visits milestone from last year. After taking three and a half years to reach its first million visits, Talkiatry surpassed its second million visits in just 14 months, underscoring the growing demand for its high-quality, technology-enabled care.

In addition to this patient milestone, Talkiatry now employs more than 600 psychiatrists nationwide, making it the largest dedicated psychiatry practice in the U.S. The company’s software platform and practice model, which removes administrative burdens so psychiatrists can focus solely on patient care, has been instrumental in attracting and retaining top talent while ensuring patients receive consistent, high-quality, expert treatment.

“This milestone isn’t just about the number. It’s about the real people behind each visit who are receiving the care they need, often after struggling to find timely and affordable access to a psychiatrist. With over two million patient visits and a growing team of more than 600 psychiatrists, we are proving that technology and expert care delivery can work together to make high-quality psychiatric care more accessible without sacrificing patient outcomes or the patient experience,” said Robert Krayn, Co-Founder and CEO of Talkiatry.

Talkiatry previously published clinical findings demonstrating substantial improvements in patient outcomes: after an average of five appointments over 15 weeks, 67% of patients no longer had clinically significant anxiety symptoms, and 62% no longer had clinically significant depression symptoms. Additionally, 26% of patients with anxiety and 29% with depression achieved clinical remission of symptoms, demonstrating the company’s continued commitment to delivering measurable and sustained outcomes.

Addressing the Growing Crisis in Psychiatric Care Accessibility

Talkiatry’s clinicians reported 80% less burnout than average industry measures, underscoring the effectiveness of its unique model in supporting psychiatrists while significantly addressing the clinician shortage in psychiatric care.

With 60% of U.S. counties without a single practicing psychiatrist and a projected national deficit of up to 30,000 psychiatrists by 2030, millions of Americans continue to encounter significant obstacles to psychiatric care. Talkiatry is directly addressing this crisis through a scalable platform that provides patients access to board-certified psychiatrists, covered by insurance and without extended wait times.

The company’s rapid growth highlights the increasing reliance on virtual psychiatric care centered around positive clinical outcomes to bridge this gap. Talkiatry is leading this shift by delivering:

A dedicated psychiatrist workforce – Unlike other telehealth providers that rely on contract-based models, Talkiatry directly employs psychiatrists, ensuring better continuity of care and stronger patient-doctor relationships.Elimination of administrative burdens – Talkiatry’s provider-enablement platform streamlines complex workflows like scheduling, billing, credentialing, and patient coordination, allowing psychiatrists to focus fully on patient care.Greater flexibility without sacrificing stability – Talkiatry’s virtual practice model provides psychiatrists the flexibility of telehealth without the unpredictability of contractor-based platforms or private practice.

“We’ve built an ecosystem that allows psychiatrists to do what they love—focus on patient care—without the administrative headaches that drive so many doctors away from clinical practice,” said Dr. Georgia Gaveras, Co-Founder and Chief Medical Officer of Talkiatry. “Our patients see our singular focus on clinical excellence, and we’re proud to deliver on that promise.”

Shaping the Future of Psychiatry

Talkiatry’s success is not just measured in visits; it’s reflected in its ability to deliver high-quality psychiatric care at scale while enhancing both the patient and provider experience. As the company continues to grow, it remains committed to setting a new standard for psychiatry, deploying new technologies that expand access to care without compromising quality.

About Talkiatry
Talkiatry is a national mental health practice that provides in-network psychiatry and therapy. They were co-founded by a patient and a triple-board-certified psychiatrist to solve the problems both groups face in accessing and providing the highest quality mental healthcare. 60% of adults in the U.S. with a diagnosable mental illness go untreated every year because care is inaccessible, while 45% of clinicians are out of network with insurers because reimbursement rates are low and paperwork is unduly burdensome. With innovative technology and a human-centered philosophy, Talkiatry provides patients with the care they need—and allows psychiatrists to focus on why they got into medicine. Learn more at www.talkiatry.com and follow us on Instagram, Facebook, and LinkedIn.

Media Contact
press@talkiatry.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/talkiatry-surpasses-2-million-patient-visits-and-expands-psychiatrist-workforce-to-over-600-302462069.html

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UPPAbaby Finalizes 4moms Brand Integration, Uniting Two Industry Leaders Under One Umbrella

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ROCKLAND, Mass., May 21, 2025 /PRNewswire/ — UPPAbaby, a global leader in premium baby gear, is proud to announce the official integration of 4moms into the UPPAbaby brand. Following the 2024 acquisition, all 4moms products — including the beloved MamaRoo® Smart Swing — will now live under the UPPAbaby name, marking a new era of unified innovation for growing families.

This strategic alignment strengthens UPPAbaby’s presence in the in-home category while expanding its mission to deliver intuitive, design-forward products that meet the evolving needs of modern parenthood. Parents can now turn to one trusted name for smarter gear across every stage, from strollers to sleep solutions.

“Parents today expect more from their gear — they want solutions that are smart, beautiful, and built to last,” said Bob Monahan, CEO and Co-Founder of UPPAbaby. “By integrating 4moms into UPPAbaby, we’re meeting that need head-on with a full portfolio that simplifies daily life, while simultaneously elevating it.”

The announcement was made at the recent ABC Kids Expo in Las Vegas, NV, where UPPAbaby unveiled upcoming product developments and offered a first look at its expanded brand direction — one that blends 4moms’ innovative technology with UPPAbaby’s elevated designs and services. Highlights of the unveiling included the Cruz® V3 stroller, the Mesa® V3 and Aria™ V2 infant car seats, and the continued expansion into the in-home category with the new Mamaroo® and Soma™ — all part of UPPAbaby’s vision to deliver a full line of premium products that support parents from day one.

Over the next few months, 4moms operations—including customer support, product education, and warranty services—will begin transitioning into the UPPAbaby ecosystem. For now, you can continue shopping on 4moms.com while we gradually integrate both brands. 4moms favorites like the MamaRoo® will soon be available at UPPAbaby Hub Service Center and Showrooms, and supported by our same trusted team. Together, we’re creating one seamless experience to make parenthood easier, more intuitive, and fun. That’s Parenthood, Understood.

“I already used UPPAbaby for walks and 4moms at home — now it’s just easier knowing the same company has my back no matter what stage we’re in.”
 — Alyssa C., parent of two

For more information, visit www.uppababy.com and follow UPPAbaby on LinkedIn (UPPAbaby), Instagram (@uppababy), Facebook (@UPPAbaby), and TikTok (@uppababy).

About UPPAbaby

UPPAbaby® is a global company with small-town roots committed to improving the lives of parents by building the smartest juvenile gear available. Founded in 2006, UPPAbaby combines decades of product experience with modern design to create stylish, functional, and intuitive gear that parents rely on — from the first ride home to years beyond.

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