iCAD Hosts Free Virtual Roundtable Event Focusing on Making Informed Decisions for Adopting New AI Solutions and Practical Applications in Healthcare

Rhea-AI Summary

iCAD, a leader in medical technology, is hosting a complimentary virtual roundtable on September 15, 2020, titled “What is Real AI: Adopting Artificial Intelligence.” This event aims to educate clinicians on the integration of AI in cancer screening, particularly in the wake of COVID-19's impact on healthcare. Industry experts will discuss the benefits and innovations in AI technology, building on the success of ProFound AI, which enhances diagnostic accuracy. The event underscores the urgent need for AI solutions amid growing patient backlogs due to pandemic-related disruptions.

Positive

• Hosting a free virtual roundtable event to educate clinicians on AI technology in cancer screening.
• ProFound AI has shown commercial success post-FDA clearance, indicating growing demand for AI solutions.
• Event features industry experts who can provide valuable insights into AI advancements and clinical decisions.

Negative

• COVID-19 pandemic has severely impacted cancer screenings, creating a backlog of patients needing attention.
• Risks associated with patient willingness to undergo screenings during the pandemic, affecting future revenues.

NASHUA, N.H., Sept. 09, 2020 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced it will host a free virtual roundtable event for clinicians, titled “What is Real AI: Adopting Artificial Intelligence,” on September 15, 2020 at 7 pm ET/4 pm PT. Event registration is available via this link: https://register.gotowebinar.com/register/1600095491848475917.

“This unique event provides a rare opportunity to learn from leading experts in multiple disciplines hailing from influential companies focused on the criteria for making AI decisions in clinical settings to enhance patient care,” according to Stacey Stevens, President of iCAD, Inc. “As we have seen with the commercial success of ProFound AI following its FDA-clearance in December 2018, demand continues to grow for clinically proven solutions that can streamline workflow and improve outcomes. In recent months the COVID-19 pandemic has severely impacted cancer screening – for many types of cancer, including breast – further underscoring the need for clinicians to be educated about the latest innovations that can increase accuracy and efficiency, which may help to manage the backlog of patients who need to be screened. We are pleased to host this educational event, and to provide a forum for clinicians to learn about the latest in AI technology so they may make more informed decisions with knowledge of the appropriate evaluation criteria when adopting AI technology into their practices.”

The roundtable will feature specialists in AI and cancer screening, including the following leading experts*:             

• Grant Davies, CEO, Solis Mammography (panelist)
• Randy Hicks, MD, MBA, Co-owner and CEO of Regional Medical Imaging (panelist)
• Senthil Periaswamy, PhD, Chief Research Scientist, VP of Clinical Innovation, iCAD, Inc. (panelist)
• Greg Sorensen, MD, CEO and Co-founder of DeepHealth, Inc. (panelist)
• Lawrence Tanenbaum, MD, CTO, Director of Advanced Imaging, VP, Radnet Inc. (panelist)
• Susan Wood, PhD, President and CEO, VIDA (moderator)

During the event, panelists will discuss the latest AI solutions for cancer screening and the benefits AI technology offers to clinicians and patients alike. The goal of this event is to educate clinicians about the value of AI in clinical practice, in the era of COVID-19 and moving forward.   

“COVID-19 has laid bare the fragmentation in our healthcare system while highlighting the potential for AI and digital solutions to help us emerge from this crisis. This event will deliver valuable insights about cancer screenings during COVID-19 and address how AI can help clinicians navigate these unchartered waters,” according to Dr. Wood. “We are in a rapidly changing market and events like this can help the medical community synthesize a vast amount of information so clinicians make educated decisions when adopting new technology that can ultimately enhance patient care.” 

This virtual roundtable event is a part of a larger series of webinars hosted by iCAD in recent months.  Previous events featured leading experts in breast cancer detection and treatment, and have examined various aspects of breast cancer care in the era of COVID-19, including risk-adaptive tools and pragmatic solutions for both screening and treatment. To register for an upcoming free event or view a prior event on-demand, visit https://www.icadmed.com/educational-webinars.html.

*Panelists have been compensated with an honoraria/speaking fee, but are encouraged to provide their own expert opinions and viewpoints. Dr. Wood is a member of iCAD’s Board of Directors.

About iCAD, Inc.

Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions.

ProFound AI™ is a high-performing workflow solution for 2D and 3D mammography, or digital breast tomosynthesis (DBT), featuring the latest in deep-learning artificial intelligence. In 2018, ProFound AI for Digital Breast Tomosynthesis (DBT) became the first artificial intelligence (AI) software for DBT to be FDA-cleared; it was also CE marked and Health Canada licensed that same year. It offers clinically proven time-savings benefits to radiologists, including a reduction of reading time by 52.7 percent, thereby halving the amount of time it takes radiologists to read 3D mammography datasets. Additionally, ProFound AI for DBT improved radiologist sensitivity by 8 percent and reduced unnecessary patient recall rates by 7.2 percent.ⁱ

The Xoft System is FDA-cleared, CE marked and licensed in a growing number of countries for the treatment of cancer anywhere in the body. It uses a proprietary miniaturized x-ray source to deliver a precise, concentrated dose of radiation directly to the tumor site, while minimizing risk of damage to healthy tissue in nearby areas of the body.

For more information, visit www.icadmed.com and www.xoftinc.com.

Forward-Looking Statements
Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the future prospects for the Company’s technology platforms and products. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited, to the Company’s ability to achieve business and strategic objectives, the willingness of patients to undergo mammography screening in light of risks of potential exposure to Covid-19, whether mammography screening will be treated as an essential procedure, whether ProFound AI will improve reading efficiency, improve specificity and sensitivity, reduce false positives and otherwise prove to be more beneficial for patients and clinicians,  the impact of supply and manufacturing constraints or difficulties on our ability to fulfill our orders, uncertainty of future sales levels, to defend itself in litigation matters, protection of patents and other proprietary rights,  product market acceptance, possible technological obsolescence of products, increased competition, government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe,” “demonstrate,” “intend,” “expect,” “estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.

Contacts:
Media inquiries:
Jessica Burns, iCAD  
+1-201-423-4492
jburns@icadmed.com

Investor Relations:
Jeremy Feffer, LifeSci Advisors
+1-212-915-2568
jeremy@lifesciadvisors.com

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ⁱ Conant, E. et al. (2019). Improving Accuracy and Efficiency with Concurrent Use of Artificial Intelligence for Digital Breast Tomosynthesis. Radiology: Artificial Intelligence. 1 (4). Accessed via https://pubs.rsna.org/doi/10.1148/ryai.2019180096

FAQ

When is the iCAD virtual roundtable on AI adoption?

The iCAD virtual roundtable is scheduled for September 15, 2020, at 7 PM ET.

What topics will be covered in the iCAD AI roundtable?

The roundtable will focus on the integration of AI in cancer screening and its benefits for clinicians and patients.

How has COVID-19 affected cancer screenings according to iCAD?

COVID-19 has significantly impacted cancer screenings, highlighting the urgency for AI solutions to manage patient backlogs.

What is the significance of ProFound AI for iCAD?

ProFound AI, cleared by the FDA, demonstrates commercial success and increasing demand for advanced AI solutions in cancer care.

Who are the panelists for the iCAD roundtable event?

Panelists include industry leaders from Solis Mammography, Regional Medical Imaging, and DeepHealth, among others.