Health Catalyst Launches New Healthcare.AI™ to Deliver Augmented Intelligence at Scale to Healthcare Industry

Rhea-AI Summary

Health Catalyst launched Healthcare.AI, a suite of AI products and services aimed at addressing challenges in revenue, cost, and quality within healthcare organizations. The suite expands AI use cases, featuring five levels of analytics. It allows easy integration into existing tools and significantly reduces the time required to deliver analytical insights from months to minutes. Expert services support organizations in tailoring predictive models. This innovation aims to improve decision-making across various healthcare settings, addressing the industry's evolving challenges.

Positive

• Launch of Healthcare.AI suite enhances AI integration in healthcare.
• Five levels of analytics cater to diverse healthcare needs.
• Reduces analysis time significantly from months to minutes.
• Expert services boost success rates for predictive models.

Negative

• None.

SALT LAKE CITY, March 10, 2021 /PRNewswire/ -- Health Catalyst, Inc. ("Health Catalyst,") (Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced the launch of the new Healthcare.AI™. Created to address healthcare business opportunities and challenges across revenue, cost, and quality, the Healthcare.AI suite of augmented intelligence (AI) products and services will significantly expand the effective use and use cases of AI in healthcare.

Healthcare leaders face an unprecedented list of increasingly unique business, clinical, financial, and operational challenges; the ongoing implications of the global pandemic; the new government-mandated Price Transparency Rule and other regulations; overcoming inequity, and an industry-wide shift in care delivery models, making data-informed decision making more crucial than ever.

To address business, clinical, financial, and operational challenges, healthcare organizations have historically turned to transactive predictive modeling, a version of AI that was quickly adopted in the healthcare setting.  While the proliferation was positive, healthcare organizations soon realized that self-service predictive models often require tailoring and expert guidance to achieve accurate predictions and results. Further, expert guidance is required to integrate predictive models into workflows, deploy broadly, and sustain positive change. Lastly, transactional predictive models do not address the many other use cases for AI in healthcare.

Jason Jones, Chief Analytic and Data Science Officer at Health Catalyst, said, "I came to Health Catalyst to build what I could not buy from within some of the greatest healthcare organizations in the world—tools and services to improve health and healthcare for people at the hospital bedside, in the boardroom, and at their kitchen tables.  In contrast to traditional AI approaches, we designed Healthcare.AI as a new approach to meet the needs of healthcare, enabling better decisions both at the point of care and by those leading system-level change."

Healthcare.AI significantly expands the potential use cases for AI in healthcare and now supports five levels of healthcare AI analytics.

Product Suite – Level 1

• Easy one-click AI access and integration into existing BI tools, a first for the industry, and Health Catalyst software product lines and applications, including more than 100 analytics accelerators.
• Embeds cutting edge statistical and machine learning techniques into every product suite module; an approach that dramatically increases the speed to deliver analytic insights from months or weeks to minutes or seconds.
• Ensures healthcare organizations will not have to wait for additional training or hands-on experience to give analysts an accelerated AI boost. The embedded rigor enables analytics insights that are more accurate, precise, and consistent than before.

Expert Services – Levels 2-5

• Provides expert guidance to help users avoid the typical pitfalls of self-service predictive analytics.
• Helps healthcare organizations pick, tailor, or build the optimal predictive model to meet business needs, significantly improving the success rates for predictive models.
• Provides expert guidance to help identify and use AI for a wider variety of use cases and advanced decision making such as retrospective comparisons and prescriptive optimization.

Commenting on Health Catalyst's AI capabilities, Phillip Rowell, M.J., Vice President of Clinical and Business Intelligence at Carle Health, said "COVID-19 has brought new challenges to hospitals and health systems and caused many organizations to reevaluate their data science capabilities. During this critical time, our partnership with Health Catalyst enabled us to quickly scale augmented intelligence adoption across our organization, resulting in accelerated clinical and financial improvement."

To learn more about the new Healthcare.AI, please visit www.healthcare.ai. 

About Health Catalyst
Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed.

Media Contact:
Amanda Hundt
amanda.hundt@healthcatalyst.com
575-491-0974

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SOURCE Health Catalyst

FAQ

What is Health Catalyst's Healthcare.AI launched on March 10, 2021?

Healthcare.AI is a suite of augmented intelligence products and services designed to improve decision-making in healthcare organizations.

How does Healthcare.AI improve analytics in healthcare?

It enables easy integration into existing BI tools and significantly reduces the time needed to generate analytical insights.

What are the benefits of using Healthcare.AI for healthcare organizations?

It offers a tailored approach to predictive analytics, expert guidance, and supports a wider array of use cases.

What challenges does Healthcare.AI address in the healthcare sector?

It addresses business, clinical, financial, and operational challenges, particularly heightened by the global pandemic.

What is the market potential for Healthcare.AI products?

The potential is significant as it expands the effective use of AI in addressing various healthcare challenges.