3 Healthcare Startups To Check Out At #SAPPHIRENOW
Healthcare organizations around the world face many challenges, including rising costs, an aging population, and inconsistent quality of care. They are also data rich, but information poor. Some experts estimate that 30 percent of the world’s data comes from the healthcare industry. But all of this data is housed in disparate systems, and hospitals, doctors, and researchers often struggle to get real insight.
Luckily, these three healthcare startups from the SAP Startup Focus program are working to solve healthcare’s data problem. Each startup is using SAP HANA to analyze data across the healthcare spectrum—and each will be sharing their story at SAPPHIRE NOW this week. Whether or not you’ll be in Orlando, it’s worth checking out how Convergence CT, CoreMobile, and PHEMI are trying to make a difference for our health:
1. Convergence CT: Using Data to Answer Doctors’ Real Questions
Convergence CT merges and analyzes patient data across multiple hospitals to generate insight from large patient populations. The startup’s breast cancer knowledge repository askLipi analyzed data from one million patients to bring conclusions about a range of factors related to radiology and breast cancer procedures.
For example, they examined differences in the rate of tumor detection from mammograms performed on women in their 40s versus women in their 50s, contributing to the ongoing debate on when women should be tested. Other analysis led to insight on the timeliness of getting a biopsy after a mammogram and whether hospitals were meeting national surgical standards.
Now Convergence CT is working to expand their analysis beyond breast cancer into diabetes, heart disease, and hypertension, all with the goal of enabling true clinical wisdom from previously untapped data. (Check them at the DEMO Conference, about 8 minutes into this video).
2. CoreMobile Inc.: Making Healthcare Mobile, Efficient, and Coordinated
Hospitals are not always the most efficient. For instance, surgery departments traditionally use large, centrally-located whiteboards to track patients’ preoperative, intraoperative, and postoperative care. This requires doctors, nurses, and anesthesiologists to travel back and forth to access patient information—and communication is often one-way, rather than collaborative.
CoreMobile’s CoreyHealth™ solution for surgical units transforms this system by moving the workflow to a mobile application that all stakeholders can access in real-time. Doctors and nurses can update patient progress and communicate virtually throughout the process. Clinical data is uploaded and tracked, allowing for real-time feedback and predictive analysis.
The ROI is significant: by saving 5 to 15 minutes in turnover time, CoreyHealth creates operational savings between $1 million and $10 million per year, and by increasing operating room utilization, it can result in an incremental revenue increase of 15 to 30 percent. Up next: similar solutions for outpatient services and emergency rooms.
3. PHEMI: Leading the Charge to Value-Based Care
Finally, PHEMI is guiding the transformation from the traditional fee-for-service model to value-based care: healthcare that truly focuses on lowering costs and improving outcomes. PHEMI helps healthcare organizations use data to improve recovery rates, prevent readmissions, and increase hospital efficiencies. For example, analysis of genomic and clinical data can help doctors create personalized treatment plans, resulting in healthier and happier patients. And analysis of administrative data to automate workflow processes can improve productivity for clerks and nurses. Lower costs, better treatment: a win-win for hospitals and patients.