MENLO PARK, Calif., Jan. 14, 2019 /PRNewswire/ -- Ayasdi, a pioneer in the creation and deployment of enterprise-class intelligent applications for the healthcare industry, announced today that it was named the Accenture HealthTech Innovation Challenge Innovation Champion.
As part of Accenture's HealthTech Innovation Challenge, startups from around the world demonstrated how their innovative technology and business models help improve the way people access and manage healthcare. Finalists in each regional round in Boston, Dublin, Tokyo and Sydney presented to an exclusive panel of judges comprised of senior executives from leading global health and life sciences organizations. Ten companies, including Ayasdi, presented as finalists at the San Francisco event.
"We're honored to be named the winner of this exceptionally prestigious healthcare competition," said Ayasdi CMO Jonathan Symonds. "The story we told was simple, but powerful and captured the imagination of the judging panel. Using machine intelligence to scale evidenced-based medicine while providing a framework to measure adherence has profound implications for providers, payers and pharma companies."
Ayasdi's Clinical Variation Management (CVM) application uses machine intelligence to identify the optimal way to conduct any surgical or nonsurgical procedure. The application pulls from electronic health records, billing, claims and other databases to automatically create a clinical care process model.
According to the Journal of American Medical Association, 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.
Brian Kalis, managing director of digital health and innovation at Accenture, noted the highly competitive nature of the HealthTech Innovation Challenge, which draws entries from thousands of startups around the world, and said, "Every year, we're more and more impressed with the teams and technologies that make it to the final round. This year was no exception. Ayasdi's story—and, more importantly, the real-world impact of its work—make it a true standout among standouts. On behalf of Accenture, congratulations to the entire Ayasdi team on this well-deserved honor."
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., 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 a seven time 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 more than $20 million during the same time period.
Attracting more than 2,000 startup applicants in its first three years, the Accenture HealthTech Innovation Challenge – part of Accenture's broader HealthTech Innovation program – brings together leading-edge startups, like Ayasdi, with prominent health and life sciences companies to tackle some of the world's greatest health challenges, including access, quality, and affordability-of-care options.
For more insight into Ayasdi's presentation, including the pitch deck and the methodology behind it, visit Ayasdi's recent blog post, Winning Accenture's HealthTech Challenge – How We Did It.
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)