Ayasdi, a pioneer in the creation and deployment of enterprise-class intelligent applications for the healthcare industry, announced today it has been named a finalist at the Accenture HealthTech Innovation Challenge regional round recently held in Boston.
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.
“We are delighted to have advanced to the finals of such an elite healthcare pitch competition,” noted Ayasdi CMO Jonathan Symonds. “Clinical variation in healthcare is one of the most complex challenges facing healthcare today. Ayasdi’s Clinical Variation Management application has proven that it can fundamentally alter healthcare for the better by simultaneously reducing waste while enhancing patient outcomes. We cannot wait to tell that story in San Francisco where the final judging round of the Accenture HealthTech Innovation Challenge will take place,” he added.
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.
The final judging round will take place at the StartUp Health Festival in San Francisco during the JP Morgan Healthcare Conference on Jan. 7, 2019. Ayasdi and nine other finalists from around the world will deliver live presentations at this event to a panel of senior executives from globally recognized health and life sciences companies, gaining exposure and access to these industry-leading companies.
About Ayasdi
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.
