MOUNTAIN VIEW, Calif., June 14, 2016 /PRNewswire/ -- Based on its recent analysis of the market for artificial intelligence (AI) systems for the healthcare industry, Frost & Sullivan recognizes Hindsait, Inc. with the 2016 Global Frost & Sullivan Award for Visionary Innovation Leadership. Hindsait has demonstrated a strong commitment to breaking down communication barriers and enhancing healthcare delivery using AI and cognitive computing technology. With its novel software-as-a-service (SaaS) platform, Hindsait helps payers reduce costs and improve the quality of services while simultaneously enabling healthcare providers, such as accountable care organizations (ACOs) and hospitals, to reduce risks and offer superior, more affordable care.
Although there are organizations that apply AI and cognitive computing in healthcare, many of them simply adapt approaches applied in other industries to healthcare. Hindsait, on the other hand, is dedicated to the needs of the healthcare industry.
"Hindsait's main goal has been to develop a robust, AI platform that specifically addresses the needs of healthcare organizations," said Frost & Sullivan Research Analyst Harpreet Singh Buttar. "This platform assists in reducing unnecessary health services, eliminating errors and biases in care delivery and improving overall quality of care."
Hindsait's system has proven to be highly adaptable and scalable, based on unique use case requirements. Their capabilities range from natural language processing (NLP) and machine learning to cognitive computing and predictive analytics that directly helps providers and payers resolve healthcare delivery issues.
Hindsait boasts a wide range of services, right from analyzing unstructured data, such as clinical notes, patient charts, and prescriptions, to real-time optimization of diagnostic and treatment plans. Providers and payers employ Hindsait's SaaS platform to address both administrative and clinical decision-making, which are consistent, auditable and error-free.
The SaaS platform is remarkably easy to integrate with providers' and payers' existing systems and has an adjustable level of autonomy from a client's normal data and communication workflows. First, Hindsait's platform effectively ingests clinical documents across a broad range of formats and structures. It then identifies, rationalizes and extracts clinically relevant data which it turns into actionable intelligence drastically improving the efficacy of Hindsait's clients' businesses.
For instance, within the realm of utilization management (UM), Hindsait's SaaS platform scores incoming prior-authorization requests for numerous diagnostic procedures such as magnetic resonance imaging (MRI), computed tomography (CT) scans, and nuclear cardiology exams. Predictive scoring is done in near real time according to each procedure's established clinical necessity, using relevant information automatically extracted from the patient's chart. This UM module has reduced unwarranted procedures and patients' exposure to unnecessary risks, as well as decreased the turnaround time between a request for a procedure by an ordering physician and the final approval or denial of coverage.
"Hindsait has demonstrated the vision to anticipate needs before they actually emerge," noted Buttar. "Its singular focus on creating products and solutions with unique and differentiated benefits that not only improve business performance, but also enhance individuals' work and personal lives has richly earned the company the 2016 Global Frost & Sullivan Award for Visionary Innovation Leadership."
Each year, Frost & Sullivan presents this award to the company that has demonstrated the understanding to leverage global Mega Trends and integrate the vision into processes to achieve strategic excellence. The award recognizes the efficacy of the recipient's innovative process and the impact it has on business and society at large.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Hindsait, Inc. (https://www.hindsait.com) Hindsait's Artificial Intelligence platform enables payers and ACOs to improve quality of care and reduce unnecessary services, human errors and biases. The SaaS platform turns artificial intelligence (ai), predictive analytics and big data into (high ROI) healthcare business solutions. Hindsait's brilliance starts with its ability to ingest and translate physicians' "unstructured text" in patient charts within a context of clinical guidelines and regulatory requirements. These inputs drive machine learning and predictive analytics in Hindsait's SaaS Platform that evaluate, score and flag patient charts for specific actions. With Hindsait's help, physicians and administrators at hospitals, health insurance companies and other healthcare payers and businesses can now: prevent more unnecessary services, correct missed preventive care opportunities, speed up provider quality reporting (HEDIS, STAR, PQRS ratings), drive optimized care pathways and much more. To learn more or to contact Hindsait for a product demonstration, visit hindsait.com.
About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?