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Analytics taking a front-and-center role in the transition to value-based care

Amidst skyrocketing healthcare costs, companies in the sector are addressing inefficiencies by enhancing data sharing across the value chain -- and they're looking at leveraging analytics to improve business functions and patient experience. It's a factor that's spurring healthcare players to shift their focus from volume-based payment models to value-based and outcome-based models, according to analytics and advisory firm Quantzig's roadmap to heathcare analytics. Applying advanced healthcare analytics to the patient datasets can help healthcare organizations adopt a comprehensive approach to deliver personalized medicine and understand the needs of patients. Multidimensional predictive models are developed by combining patient information and data obtained from other sources, plus third-party consumer insights. The use of such predictive models results in better patient stratification which, in turn, leads to improved healthcare, higher engagement and reduced costs, the roadmap showed.

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Health Technology, AI

Aidoc and Mayo Clinic Maximize Patient Care through AI Assistance

Aidoc | October 12, 2023

Aidoc, a pioneer in clinical AI technology, has entered into a collaborative partnership with Mayo Clinic Platform to enhance healthcare by facilitating access to Aidoc's AI technology and platform. Aidoc uses AI to help medical teams in charge of diagnosing, caring for, and treating patients stay in touch with each other. This ensures that essential data is always available to make smart decisions about healthcare interventions and what to do next. Ed Simcox, Vice President of Solutions at Mayo Clinic Platform, confirmed that Aidoc is well-positioned to deal with several common issues with AI-based healthcare solutions, such as the costs of implementing them only once. By eliminating these barriers, healthcare providers of varying scales can readily implement AI, promoting improved patient outcomes and enhancing the overall care experience. Elad Walach, Aidoc's CEO, said, We're excited about Mayo Clinic Platform's vision to transform care at scale. Together we are improving clinical workflows, enhancing patient outcomes and driving the evolution of healthcare through the power of AI. [Source – Cision PR Newswire] Mayo Clinic has integrated Aidoc's innovative AI solutions for clinical decision support since 2020. Its collaboration with Mayo Clinic Platform is expanding access to these advanced tools for a broader range of healthcare providers and patients. Aidoc's offerings encompass 13 FDA-cleared image and partner algorithms, facilitating the prioritization of clinical findings. It also has a built-in risk stratification system, a mobile app for real-time notifications in time-sensitive cases, and seamless integration of EHR data, which makes it easier for people from different departments to talk to each other and coordinate care. Aidoc's aiOS system confronts prevalent issues integrating artificial intelligence within practical healthcare environments. These challenges encompass the management of unstructured data, the efficient utilization of staff resources, the quantification of return on investment, and the resolution of fragmented organizational structures. About Aidoc Aidoc is a pioneering force in clinical AI, focusing on aiding and empowering healthcare teams to optimize patient treatment, resulting in improved economic value and clinical outcomes. Aidoc's proprietary aiOS builds the foundation for analyzing and aggregating medical data, enabling care teams to operationalize the unexpected and work seamlessly with a continued focus on the patient. Used in more than 1,000 medical centers worldwide, Aidoc has the most FDA clearances (13) in clinical AI, and its AI-based solutions cover 75% of patient populations, enabling physicians to make informed decisions based on real-time data.

Health Technology, Digital Healthcare

Aspect Imaging to bring Improvements in NICUs for Vizient

Aspect Imaging | September 25, 2023

Aspect Imaging, a global leader in MRI systems for neonatal patients, has been awarded an Innovative Technology contract by Vizient, the nation's largest provider -driven healthcare performance improvement company. This contract recognizes the unique qualities of Aspect Imaging's Embrace Point of Care Neonatal MRI System and its potential to bring improvements to the healthcare industry. The Embrace Point of Care Neonatal MRI System is designed specifically for the imaging needs of prematureand newborn infants, making it a critical tool in neonatal intensive care units (NICUs). The Embrace is the world's first FDA-cleared and CE-approved MRI system for neonatal patients. It is designed to be placed directly within NICUs, overcoming the size and risk limitations associated with adult MRI scanners. The system includes features such as a temperature-controlled patient bed and a Whisper Quiet sound profile to meet the specific care needs of neonatal patients. This technology enables safer and more accessible MRI imaging for fragile neonatal patients and provides critical information to the clinical care team. Chief Commercial Officer at Aspect Imaging, Wendy Slatery, stated, It is an honor to have the Embrace recognized by the clinical experts at Vizient, as an Innovative Technology, and an exciting opportunity to bring valuable solutions to Vizient customers. We are looking forward to working with Vizient members seeking to expand and elevate neurocritical care of the smallest patients while reducing patient risks and staff time associated with transporting newborns to a traditional MRI. The Embrace MRI gives the neonatal medical team access to information from the life’s first hours and throughout the patient’s time in the NICU, on which critical care decisions will be based. [Source: Business Wire] Vizient's provider customer-led councils recommended the Embrace system for an Innovative Technology contract after evaluating its potential to enhance clinical care, patient safety, and healthcare worker safety, or improve business operations in healthcare organizations. The recognition and award of this contract highlight the potential of the Embrace Point of Care Neonatal MRI System to improve neurocritical care for the smallest patients while reducing risks associated with transporting newborns to traditional MRI facilities. About Aspect Imaging Aspect Imaging, a pioneering force in the field, stands as the global frontrunner in crafting and advancing compact MR imaging systems tailored for both research and clinical use. Their groundbreaking technology centers on compact, high-performance permanent magnets, introducing transformative MRI solutions to tackle unmet requirements in research and medical contexts. These innovations ensure the delivery of the finest quality images, whether at the benchtop or in point-of-care scenarios.

Health Technology, AI

Emory Healthcare and Andor Health Unite for Virtual AI Healthcare

Andor Health | November 07, 2023

Emory Healthcare has collaborated with Andor Health to mitigate the risks of patient falls and address other safety concerns within the hospital setting while implementing virtual patient observer technology within its healthcare facilities. Andor Health, the creator of ThinkAndor, will employ generative AI technology to access data from various systems, including ambient listening and real-time visualization, to identify common safety risks such as falls and self-harm. In addition, Emory Healthcare will commence a pilot program for the virtual sitter technology in November at two of its hospitals. This program will involve the remote monitoring of at-risk patients on medical and surgical floors, as well as in the emergency departments. Jason Atkins, RN, Vice President and Chief Clinical Informatics Officer for Emory Digital, a part of Emory Healthcare, says. Andor Health's virtual patient observer/virtual sitter technology expands our virtual health initiatives across Emory Healthcare while reducing the burden of nurses and other team members. [Source – Cision PR Newswire] Andor Health's virtual observers collaborate with registered nurses stationed in a control center to employ voice-activated technology to engage in remote conversations with at-risk patients. These interactions involve reminding patients to remain in their beds, prompting them to seek assistance, or offering relevant guidance. Raj Toleti, Chairman and CEO of Andor Health, emphasized that recent technological advancements, such as generative AI-based virtual sitting and ambient monitoring, offer promising opportunities to alleviate operational challenges, mitigate staff shortages, and reduce costs. These innovations enable healthcare systems to concentrate on providing high-quality patient care. Healthcare organizations like Emory Healthcare can efficiently monitor patients and optimize staff effectiveness through large-scale virtual sitting, harnessing the capabilities of virtual hospitals as supplementary support. About Andor Health Andor Health believes in transforming how healthcare teams establish connections and cooperate. Its cloud-based platform, using both machine and human intelligence, accesses information within electronic medical records and provides immediate, actionable insights to healthcare teams, whether they are within or outside the organization. By enhancing communication processes, its solutions expedite the time to treatment, reduce clinician fatigue, and improve patient outcomes. About Emory Healthcare Emory Healthcare is one of the prominent academic health systems in Georgia. At the systemic level, it maintains 2,796 licensed patient beds and hosts a cadre of over 3,450 physicians who practice across over 70 specialized fields. Moreover, it extends its reach by serving a broader population through a collaborative initiative at the St. Francis–Emory Healthcare Hospital in Columbus, ten regional affiliate hospitals, and a closely coordinated network of physicians.

Healthcare Analytics

WellSky Expands Post-Acute Offerings Through Corridor Acquisition

WellSky | October 13, 2023

WellSky has officially declared its acquisition of Corridor, a comprehensive technology-enabled service platform tailored to address the most formidable challenges in the post-acute care industry. This strategic move is intended to aid care providers in enhancing their efficiency and overall performance across various domains, encompassing clinical, financial, operational, and compliance aspects. The acquisition has been facilitated through the purchase of Corridor from HealthEdge Investment Partners, a private equity firm with a dedicated focus on healthcare. Bill Miller, CEO of WellSky, highlighted providers' need for quality care support and reduced administrative burdens. He stated, As we looked to strengthen our services offerings, Corridor emerged as an ideal partner. Together, WellSky and Corridor help more post-acute care organizations succeed against industry challenges. [Source – Business Wire] Des Varady, CEO of Corridor, expressed that for over three decades, Corridor has remained dedicated to its mission of enabling clients to optimize their performance and resources through robust technology-based solutions. He conveyed his enthusiasm for Corridor's continued commitment to advancing this mission as an integral part of the WellSky team. By gaining access to WellSky's technology-driven solutions, focusing on enhancing outcomes, reducing expenses, and enhancing patient and family satisfaction, Corridor is better positioned to serve its clients more effectively. With the integration of Corridor into its portfolio, WellSky aims to broaden its spectrum of services in medical coding and revenue cycle management. About WellSky Known for its proven software, analytics, and services, WellSky, a prominent U.S. healthcare technology company, drives better outcomes and cost savings across the healthcare and community care spectrum. It empowers providers, payers, health systems, and community organizations to streamline processes, enhance collaboration, leverage data analytics, and improve results by integrating clinical and social care. About Corridor The Corridor Group Holdings, LLC (Corridor) is a prominent post-acute healthcare sector entity offering top-tier technology-driven outsourced coding, revenue cycle, and educational solutions. It specializes in improving documentation quality and getting better client reimbursement outcomes, including for large health systems, national chains, and smaller, independently managed agencies.