MENLO PARK, Calif. – December 13, 2018 – Ayasdi, a pioneer in the creation and deployment of enterprise-class intelligent applications for the healthcare industry, announced today receipt of the 2018 Fierce Innovation Award in the data analytics/business intelligence category for its Clinical Variation Management (CVM) application.
Clinical variation is one of the key challenges facing healthcare today, representing more than $800 billion per year in costs that don’t improve the patient experience or outcomes, and in many cases diminish it. Ayasdi’s CVM application uses machine intelligence to surface variation, both good and bad, for any surgical or non-surgical process. The application automatically designs multiple candidate care process models, enabling the organization to select the one most aligned with its objectives. Finally, the application boasts a robust adherence framework that ensures the effective operationalization of these care process models.
Using the Fast Healthcare Interoperability Resources (FHIR) standard, plus a number of unique customizations, the application ingests data from a variety of sources, including the EHR, billing, claims, surgical and others, ensuring that the care process models are built off the organizations own data – dramatically enhancing acceptance by the physician community. The application pairs state-of-the-art unsupervised learning with supervised prediction to align the events, sequence and timing of care with the goal of identifying the care process model that delivers against any number of variables, from cost, readmissions, length of stay, mortality or other KPIs.
The product is used by providers and payers alike to reduce clinical variation, advance value-based care, and manage risk sharing. The intuitive user interface, like all of Ayasdi’s applications, is designed for use by subject matter experts, not data scientists.
The Fierce Innovation Awards – Healthcare Edition 2018 showcase outstanding innovation driving improvements and transforming the industry, including solutions that have the greatest potential to save money, engage patients, and revolutionize healthcare.
“The Fierce Innovation Award is a testament to the power and scope of our Clinical Variation Management application,” said Gurjeet Singh, CEO and co-founder of Ayasdi. “CVM’s ability to identify best care practices, build new care paths, and provide continuous improvements holds the promise of transforming healthcare, reducing as much as 30 percent of healthcare spend while simultaneously enhancing patient outcomes.”
Ayasdi’s CVM application has been deployed at some of the nation’s most prestigious health systems and hospitals.
At Flagler Hospital, a 335-bed community hospital in St. Augustine, Fla., for example, officials used the Ayasdi CVM application to create a new pneumonia care path, which resulted in a $1,350 per patient cost reduction, two-day reduction in lengths of stay, and 7x reduction in readmissions. The work on pneumonia is projected to save the hospital more than $850,000 over three years, while the overall program is expected to save in excess of $20 million during the same time period.
Ayasdi and other Fierce award winners will be featured today in Fierce’s 2018 Innovation Report – Healthcare Edition 2018.
Download the report at https://pages.questexweb.com/2018HealthcareInnovationReport.html.
To learn more about Ayasdi’s technology, visit https://www.ayasdi.com/solutions/clinical-variation-management/.
Ayasdi is a pioneer in the creation and deployment of enterprise-class intelligent applications for the healthcare industry. Ayasdi’s award-winning Artificial Intelligence platform, developed by Stanford computational mathematicians, has already solved key challenges in healthcare, including clinical variation management, population risk assessment, claim denial management, and fraudulent claim detection. The Company’s accomplishments have earned it recognition as one of the world’s most innovative companies from both Fast Company and the World Economic Forum.
Based in Menlo Park, Calif., Ayasdi is backed by Kleiner Perkins Caufield & Byers, IVP, Khosla, Centerview Technology Partners, Draper Nexus, Citi Ventures, GE Ventures, and Floodgate Capital.
Amendola Communications (for Ayasdi)