Hospitals lose about $ 150 billion annually in workflows and logistics in the US. So how can the USA and other countries find a solution to this healthcare issue?
Verifying the problem
Qventus, a health IT business is studying this problem since 2012. They are planning to develop a software service that launches dashboards and analytical tools to improve hospital workflows. The study also indicates that hospitals will rather gain billions by improving the flow of patients. Another factor is that to make systems more efficient, hospitals will have to find compatible matches with infrastructure and technology. The company first began by demonstrating hospital administrators with a series of dashboards and data management tools. This was to make them aware of the problems in their own facilities.
Qventus finally found a solution that used predictive data and analysis to suggest logistic solutions and potential revenue. The software notifies hospital staff about problems that will arise based on predictions. This is done through artificial intelligence. This technology can relieve several challenges in various hospital departments such as ER and pharmacy. It can reduce the patient waiting time for hospital rooms. It can prompt hospital staff to check on certain patients or pending lab tests and imaging, in the form of notifications. The software can help reduce case delays and improve utilization in operating rooms.
History and Background
This software has gained the attention of a number of healthcare investors such as Mayfield Fund and Norwest Venture Partners. Qventus has raised $ 43 million so far, for its service. The funding will be used to expand customer base and apply machine learning tools to different hospital issues. The start-up company launched in 2011, has solved more than 3.8 million patient cases. Their service was utilized at New York Presbyterian Hospital, Emory Healthcare, and the Mercy health system, notably.