Gradient AI and Prognos Health | October 11, 2022
Self Insurance Institute of America conference -October 10, 2022- Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry announced that it has acquired Prognos Health’s analytics business underwriting unit to leverage data from the company’s large collection of integrated medical records and lab data via its real-world data marketplace.
The acquisition will enable Gradient AI to expand its medical database capabilities by integrating Prognos Health’s data with SAIL™, Gradient AI’s leading medical underwriting solution. Medical records on 325 million de-identified U.S. patients can be accessed through the Prognos Marketplace.
In addition to retrieving medical and prescription claims data customers will now have access to lab data, which has been a missing factor for many insurers when predicting group risk. According to the Centers for Disease Control and Prevention (CDC), 70% of today’s medical decisions depend on laboratory test results because they are among the best indicators of disease severity and progression.
With the acquisition, Gradient AI will become the only company in the group medical insurance market to provide medical, prescription, and lab data from a single source. Insurers will benefit by having further insight into group members' health for more informed risk assessment and improved underwriting accuracy.
“The acquisition of Prognos underwriting business unit is a game changer. Our combined solution will provide a holistic picture of group health risk that has never before been possible. Insurers will now have a single point of access to multiple data sources, covering medical, prescription and lab data improving their abilities to project group health assessments and costs with much greater confidence.”
Stan Smith, CEO and founder, Gradient AI
Gradient AI aspires to continue its innovation in assessing group health risks. In the future, the company plans to expand its data sources to include information from Electronic Health Records and claims-based patient population data.
“We are excited to join forces with Gradient AI to create a next-generation industry leading solution for group health insurance,” said Sundeep Bhan, co-founder and CEO, Prognos Health. “Gradient AI is a clear leader in healthcare analytics underwriting. Prognos looks forward to supporting the rapid innovation at Gradient AI by leveraging the most relevant data from the Prognos Marketplace. With the sale of the underwriting business unit, Prognos will continue to focus on our real-word data marketplace and democratizing data to improve health.”
About Prognos Health
Prognos Health’s mission is to democratize data to improve health. Prognos is focused on enabling data accessibility for everyone by leveraging technology and our clinical experience. We are removing data silos and fragmentation by linking, normalizing and standardizing data. We allow data to flow more freely and help organizations make the best data-informed decisions by simplifying and streamlining access to fit-for-purpose, multi-dimensional real-world data sets. Prognos is the leading real-world data marketplace with integrated RWD on 325M patients. All data purchased is available on the Datavant token, making it interoperable with other patient-level data that has been tokenized using Datavant.
About Gradient AI
Gradient AI is a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Unlike other solutions that use a limited claims and underwriting dataset, Gradient's software-as-a-service (SaaS) platform leverages a vast dataset comprised of tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic and demographic information. Customers include some of the most recognized insurance carriers, MGAs, TPAs, risk pools, PEOs and large self-insureds across all major lines of insurance. By using Gradient AI’s solutions, insurers of all types achieve a better return on risk.
Henry Ford Health | November 21, 2022
Henry Ford Innovations one of the nation's leading healthcare innovation programs, recently hosted the inaugural "Advancing Health Equity Through Innovation and Collaboration" event in partnership with the PINC AI™ Applied Sciences team, a leading provider of advanced analytics, technology solutions and clinical research support services to the life sciences industry.
The initiative's purpose was to turn health equity conversations into action by taking measurable steps towards improving the health of millions. Participants included global leaders in life sciences, as well as Henry Ford Health innovators who are already implementing programs to address health disparities in groups who have been historically marginalized and underrepresented.
"Part of innovating is looking for partners to expand successful test programs and develop new ones. Partnerships like the ones we're forging with these corporate partners will create a true impact in addressing health equity. We are thrilled to have the opportunity to share our findings with national leaders in the life sciences and pharmaceutical industries and chart a path forward to bring these solutions to help more people."
Lisa Prasad, Henry Ford Health's Chief Innovation Officer and leader of Henry Ford Innovations
The two-day event in late October included a presentation of case studies from successful Henry Ford Health programs, including community-based partnerships to increase health screenings. That program found that a lack of trust in institutions can deter people from getting preventative care and that using community partners for healthcare services can reduce barriers and increase access to care. Other case studies covered programs to improve hypertension in young African American men and reduce infant mortality among underserved populations. The unique action-focused event allowed leaders from Henry Ford Health, the PINC AI™ Applied Sciences team and collaborators from eight global life sciences companies to meet, connect and work together on ways to amplify and expand pilot programs.
"The impactful work Henry Ford Health already has under way makes Detroit an ideal location to look for solutions to reduce health inequities across the country," said Denise Juliano, Life Sciences Group Vice President, PINC AI™ Applied Sciences. "PINC AI™ Applied Sciences partners with leaders in healthcare to improve health outcomes and advance equitable care for all people. This initiative was a great step forward to accelerate our efforts to address the challenges of health inequities that continue to persist."
Because of Henry Ford Health's community connections and its long-standing work to improve diversity, equity, inclusion and justice (DEIJ), the health system is a leader in researching and tackling health disparities in Detroit. In 2021, Henry Ford launched a new initiative to improve the representation of African American people in cancer clinical trials. It was an important collaboration, especially considering that recent research shows 85 percent of participants in clinical trials are white. Another program supported by HFI provides medical mentorship and internship opportunities for Detroit-based high school students. Both initiatives serve as examples of the meaningful change health and life sciences organizations can affect together.
"This initiative is an example of how Henry Ford's commitment to DEIJ extends beyond ideas and connects directly to action," said Ikenna Okereke, M.D., Henry Ford Health's Vice Chair of Surgery and Director of Thoracic Surgery. "Through Henry Ford's Department of Surgery High School Mentorship Program, I've seen firsthand how programs that work in other communities can grow for a larger impact. I'm excited to be a part of the next chapter in creating more programs and initiatives to address health disparities."
Henry Ford Health and the PINC AI™ Applied Sciences team will now work with the summit's participating partners to strengthen and scale solutions to advance health equity.
About Henry Ford Health
Serving communities across Michigan and beyond, Henry Ford Health is committed to partnering with patients and members along their entire health journey. Henry Ford Health provides a full continuum of services – from primary and preventative care, to complex and specialty care, health insurance, a full suite of home health offerings, virtual care, pharmacy, eye care and other healthcare retail.
It is one of the nation's leading academic medical centers, recognized for clinical excellence in cancer care, cardiology and cardiovascular surgery, neurology and neurosurgery, orthopedics and sports medicine, and multi-organ transplants. Consistently ranked among the top five National Institutes of Health (NIH)-funded institutions in Michigan, Henry Ford Health engages in more than 2,000 research projects annually. Equally committed to educating the next generation of health professionals, Henry Ford Health trains more than 4,000 medical students, residents, and fellows every year across 50+ accredited programs.
With more than 33,000 valued team members, Henry Ford Health is also among Michigan's largest and most diverse employers, including nearly 6,000 physicians and researchers from the Henry Ford Medical Group, Henry Ford Physician Network and Jackson Health Network.
The health system is led by President and CEO Robert G. Riney and serves a growing number of customers across 250+ locations throughout Michigan including five acute care hospitals, two destination facilities for complex cancer and orthopedics and sports medicine care, three behavioral health facilities, primary care and urgent care centers.
About the PINC AI™ Platform
PINC AI™ is the technology and services platform of Premier Inc. With more than 20 years' worth of cost, quality and operational data gleaned from 45 percent of U.S. hospital discharges, 812 million hospital outpatient and clinic encounters and 131 million physician office visits, the PINC AI™ platform provides actionable intelligence to help improve outcomes, support improved financial performance and enable success in new, alternative payment models. PINC AI™ offerings rely on advanced analytics to identify improvement opportunities, consulting services for clinical and operational design, and workflow solutions to hardwire sustainable change. The PINC AI™ platform is also the data engine powering Premier's newest brands – Remitra™ and Contigo Health®.
KORU Medical | October 05, 2022
KORU Medical Systems, Inc. a leading medical technology company focused on the development of innovative and easy-to-use home infusion solutions, announced its membership in the Subcutaneous (SC) Drug Development & Delivery Consortium making it one of the first device companies to be added to the Consortium.
“The Consortium creates an important forum to identify and address key challenges and opportunities across the SC field. Key industry experts can collaborate on issues at the clinical, regulatory, and commercial level and work towards advancing the SC market and creating the best outcomes for patients. I am excited for KORU Medical’s membership as one of the first device companies and look forward to advancing SC drug delivery.”
Linda Tharby, KORU Medical’s President and CEO
The Consortium was convened in 2018 as a community of well-recognized industry experts with decades of experience in the pharmaceutical drug delivery, device development, and commercialization space. The Consortium was built upon a strong desire for clear and transparent evidence-based communication of existing SC technologies and information. The Consortium’s mission is to identify current and future unmet medical needs within a dynamic SC drug delivery and development environment to transform patient care and improve patient outcomes. As a member, KORU Medical will contribute to advancing understanding of patient preference for SC therapy and the clinical trial strategy and technology for high-volume SC drugs. KORU Medical was one of the first companies to develop technology for SC biologics with volumes above 5mL, and its Freedom System is used by over 25,000 patients today to receive SC therapy. KORU Medical is established as the market leader in above 10mL and will bring this deep expertise in patient experience and subcutaneous injection technology to the Consortium.
About KORU Medical
KORU Medical develops, manufactures, and commercializes innovative and easy-to-use specialty infusion solutions that improve quality of life for patients around the world. The FREEDOM Syringe Infusion System (the “Freedom System”) currently includes the FREEDOM60® and FreedomEdge® Syringe Infusion Drivers, Precision Flow Rate Tubing™ and HIgH-Flo Subcutaneous Safety Needle Sets™. These devices are used for infusions administered in the home and alternate care settings.