New technologies have disrupted many industries in the information age. Artificial intelligence is poised to transform healthcare. With automation—machine learning and artificial intelligence (AI) in particular—doctors, hospitals, and insurance companies, healthcare-related organizations have all been affected. In many cases, they are affected more positively and substantially than in other industries.
Ayasdi, based in Menlo Park, CA, is a leader in the deployment of healthcare AI applications. Developed by Stanford’s computer mathematicians, Ayasdi uses a unique approach to machine intelligence leveraging advanced mathematics, highly automated software, and inexpensive scalable computers to revolutionize the process of translating big data into business impact. Over 500 leading governments and research institutions around the world are Ayasdi's clients and partners.
Ayasdi was awarded the 2018 Fierce Innovation Award in the data analysis/business intelligence category for its application for Clinical Variation Management (CVM) on 13 December 2018.
Gurjeet Singh, CEO, and co-founder of Ayasdi said, “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.”
Clinical variation is one of the biggest challenges facing the health sector today. The investment for better patient experience and results is very high.
The Ayasdi CVM application offers a key solution to the clinical variation challenge. For any surgical or non-surgical process, the CVM application uses AI to surface variation. It automatically designs multiple candidate care process models, allowing the organization to choose the one that best suits its goals. Finally, the application has a robust adherence framework which ensures that these care process models are effectively operationalized.
Ayasdi’s CVM was deployed at St. Augustine, Flagler Hospital. It is used to create a new pneumonia care pathway that reduced patient costs by $1,350 per patient, stay lengths by two days, and readmissions by seven times. The application’s objective is to identify the care process model that complies with any number of variables, from cost, readmission, length of stay, mortality, or other KPIs. The product is used to reduce clinical variation, promote value-based care, and manage the sharing of risks.