The IoT (Internet of Things), AI (artificial intelligence), and machine learning are beginning to provide big value, helping organizations solve business challenges with the help of new, emerging technology.
Each year, the Connected World Awards recognizes a successful company within a vertical market for scaling new heights in emerging technology. Leading-edge organizations within the IoT, AI, and machine learning technologies recognize that being selected as the best takes hard work, dedication, and commitment. And all of that takes time.
This year, healthcare demonstrated its strength taking top billing, as both winners prove that innovation is alive and thriving. And this is actually in line with growth predictions as MarketsandMarkets says the IoT healthcare market will grow from $41.22 billion in 2017 to $158.07 billion in 2022—which is a whopping 30.8%.
The research firm even suggests that growth is primarily driven by the evolution of AI technology and a rise in investments for the implementation of IoT healthcare solutions, with the systems and software segment expected to grow at the highest rate. MarketsandMarkets is not alone with high hopes for healthcare. Accenture predicts the AI healthcare market alone will be worth $6.6 billion by 2021.
Source: Accenture analysis
Thus, when all was said and done, it’s really not surprising that healthcare companies took home this year’s Connected World Awards. These companies are proving that they are innovators, and that they have what it takes to push the boundaries, all with the help of new technology. Being able to calculate a solid ROI (return on investment) of the technology proved to be a key component for both organizations.
These companies, along with an exponentially growing healthcare industry, are beginning to use machine learning to reimagine processes, harness data to create positive improvements in speed and KPI (key performance indicators). Ultimately, we are seeing our winners managing process variability and unpredictability.
In addition, they also had a little bit of help from their technology software and hardware providers. In many cases, the technology vendors contributed to the software implementation and network connectivity—helping play a role in the successful use of the technology.
Please join us in congratulating this year’s 2018 Connected World Awards winners.
Connected World would like to thank our panel of judges. The judging body is comprised of industry professors and analysts who scored this year’s entries to determine the winners based on the challenge, solution, and data provided for each entry.
Central Iowa EMS Director’s Association
Des Moines metro-area EMS (Emergency Medical Services) and hospitals needed a better way to communicate with one another during time-sensitive patient emergencies such as stroke and heart attacks. Thus, the Central Iowa EMS Director’s Assn., searched for a way to get all members of the care team on the same page and potentially improve treatment times.
The solution came in the form of a mobile app that streamlines communication among healthcare teams, with the implementation including all of the hospital systems in the metro region of Des Moines, along with about 30 different EMS services. The technology allows prehospital providers to enter information about a patient from a mobile device in the field and instantly transmit it to the emergency department, either through an app on a mobile device or via a Web browser. The platform is HIPPA-compliant and secure.
One of the biggest impacts of the solution has been improved communication—which has led to increased efficiencies in patient care and coordination. Further, analysing data and reporting has become easier for the EMS and hospital teams, as they now have the ability to compile full patient care reports with more accurate information.
The implementation of technology has saved thousands of dollars in both the hospital and EMS systems, and the Central Iowa EMS Director’s Assn., has seen significant savings in time and resources. Overall, healthcare systems using the mobile solution have seen a 28% reduction in treatment times as well.
West Des Moines, Iowa
Technology Enabler: Pulsara
City of Hope National Medical Center
City of Hope National Medical Center needed an enterprise system to support all care delivery, revenue cycle, patient engagement, and enhanced digital capability for all aspects of its care and research model.
Infinite Computer Solutions enabled it to switch to EPIC, while still supporting all the legacy clinical, revenue cycle, and ancillary applications, as well as infrastructure. More than 50 systems were managed by Infinite in a manged services model, providing support to the business. By bringing on a strategic partner, City of Hope National Medical Center was able to keep legacy systems up and running, which results in a cost saving on current spend and productivity gain after the first year of operations.
The installation also helped in providing the medical community with a more mature ecosystem with more features and better access to information.
City of Hope has experienced a number of benefits, as a result of the technology implementation. Based on early visibility, there are certain areas that have shown enhancement in how it improves patient engagement and operates its facilities. For instance, replacement and rebadging has resulted in cost savings of 20% compared to incumbent teams and 5% productivity gains achieved after the first year of operations.
Further, process maturity increased from managed to predictable and the organization has achieved better responsiveness. Additionally, centralized data enables performance management and risk sharing decisions, while the organization has also experienced more accurate patient care. All in all, it has been a successful technology implementation for City of Hope National Medical Center.
Technology enabler: Infinite Computer Solutions; EPIC