Healthcare Triangle (HCTI) Selected By Monument Health to Automate Document Processing

Rhea-AI Summary

Healthcare Triangle, Inc. (HCTI) has partnered with Monument Health to enhance document processing through its readabl.ai solution, integrating AI and machine learning for improved patient care. This collaboration aims to automate the handling of thousands of daily medical documents, significantly reducing manual labor. With the expertise of HCTI, Monument Health anticipates streamlined operations, cost savings, and better accuracy in patient data management. The deployment will aid in meeting the healthcare needs of the communities served by Monument Health.

Positive

• Partnership with Monument Health to automate document processing.
• Streamlined patient care through faster document processing.
• Cost reductions realized through labor savings.
• Integration with EHR and key applications via FHIR APIs.
• Enhanced accuracy using advanced AI and ML models.

Negative

• None.

Healthcare Triangle, Inc. (HCTI) to provide Monument Health with critical support to unlock the data in the documents and gain a comprehensive view of patients’ medical history

PLEASANTON, Calif., Nov. 23, 2021 (GLOBE NEWSWIRE) -- Healthcare Triangle Inc., (Nasdaq: HCTI) (“HCTI” or the "Company") a leading provider of cloud and data transformation platform and solutions for healthcare and life sciences, is pleased to announce that Monument Health taps Healthcare Triangle to automate their document processing through readable.AI.

Healthcare Triangle’s deep expertise in Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) has helped Monument Health turn their clinical data from disparate sources into actionable insight.

At Monument Health, the ability to close gaps in care depends on data availability at the point of care. As a result, this community-based health care system, headquartered in Rapid City, SD, ingests thousands of pages of data daily, which were manually identified, categorized, and uploaded by staff into its electronic health record (EHR) so the data could be delivered to providers at the point of care. With over 5,000 physicians and caregivers across 5 hospitals and 38 medical clinics serving 12 communities, Monument Health’s paper-intensive nature and need for efficient management of information while ensuring data security required an advanced automation solution for image recognition and document analysis.

Monument Health leveraged Healthcare Triangle’s cloud-based AI and machine learning readabl.ai solution to automate the process of categorizing data from unstructured reports and pair the right information with the right patients. readabl.ai uses the state-of-the-art public cloud artificial intelligence and machine learning to recognize and extract information from documents, faxes and narrative reports which adds value as more documents get processed.

“As a trail of records follows patients in their healthcare journey, Healthcare Triangle’s readabl.ai solution helps unlock key data while reducing the burden of manual data capture,” Suresh Venkatachari, CEO, Healthcare Triangle.

HCTI’s AI-powered document processing solution lets the integrated health system focus on higher-value activities related to patient care rather than document processing. It’s an approach that positions Monument Health to meet the complex health needs of its population more effectively.

With HCTI’s strong partnership and expertise in AI and machine learning, Monument Health achieved:

• Streamlined patient care through faster processing
• Cost reduction through labor savings
• Integration to the EHR & other key applications using FHIR APIs
• Accuracy through the latest AI and language processing ML models
• Scalability through public cloud
  

“The HCTI team and solution has synched with our needs from the very start. From the comprehensive assessment to the design and execution, HCTI validates daily that their partnership is the key component in their solution. The readable.ai project has had a tremendous impact on our health system’s accuracy and productivity in a time where struggles with recruitment and workforce put the industry at risk. Having a partner that lives on service excellence makes all the difference; Thank you HCTI team!” - Ted Syverson, Monument Health Vice President of Revenue Cycle.

About Healthcare Triangle, Inc. (HCTI)

Healthcare Triangle, Inc. based in Pleasanton, Calif., reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare organizations—including hospitals and health systems and health plans—as well as pharma and life sciences organizations, in their efforts to improve health outcomes. Healthcare Triangle enables the rapid adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit HealthcareTriangle.com.

About Monument Health

Headquartered in Rapid City, S.D., Monument Health is a community-based health care system with a mission to make a difference, every day. The system offers care in 31 medical specialties and serves 12 communities across western South Dakota. With over 5,000 physicians and caregivers, Monument Health is composed of 5 hospitals and 38 medical clinics and specialty centers. Monument Health is a member of the Mayo Clinic Care Network.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Risk Factors section of the Company's Registration Statement and preliminary prospectus for the offering filed with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Healthcare Triangle, Inc. Contact:

For Media Enquiries:

Michael Campana

michael.c@healthcaretriangle.com

Healthcare Triangle, Inc. Investor Relations:

John McNamara

john@tradigitalir.com

917-658-2602

FAQ

What partnership has Healthcare Triangle (HCTI) announced?

Healthcare Triangle has partnered with Monument Health to automate document processing using their readabl.ai solution.

How will HCTI's solution benefit Monument Health?

HCTI's solution will streamline patient care and reduce labor costs by automating the processing of medical documents.

What technology does HCTI use for document processing?

HCTI utilizes AI and machine learning in its readabl.ai solution to enhance document processing efficiency.

What are the expected outcomes of the HCTI and Monument Health partnership?

The partnership aims to improve accuracy in patient data management and streamline operations for Monument Health.

How many communities does Monument Health serve?

Monument Health serves 12 communities across western South Dakota.