Medtronic unveils the future of AI in GI: Genius Summit 2024 reveals innovations and collaborations that advance endoscopic care

Rhea-AI Summary

Medtronic plc announced the launch of ColonPRO™ software for the GI Genius™ intelligent endoscopy system, enhancing AI-driven polyp detection with a 9% reduction in false positives. The collaboration with Modernizing Medicine® aims to streamline workflows and improve patient care in endoscopic procedures.

Insights

Medical Technology Analyst

Medtronic's announcement regarding the ColonPRO™ software represents a significant stride in the medical technology landscape, particularly in the field of gastrointestinal care. The introduction of an advanced AI algorithm, which promises a 9% reduction in false positives, is poised to increase the clinical value of the GI Genius™ system. This enhancement can lead to improved patient outcomes by reducing the rate of unnecessary procedures that stem from incorrect polyp detection, which is a common concern in endoscopic practices.

Moreover, the system's new procedural highlights feature is likely to streamline the endoscopy process. By automating aspects of the physician's workflow, such as documentation, the GI Genius™ system with ColonPRO™ could potentially reduce the time burden on healthcare providers. This efficiency gain is important in a healthcare environment where physician burnout is a growing issue. The integration with electronic health records (EHR) systems is another step towards a more interconnected healthcare ecosystem, which can lead to better patient management and potentially lower healthcare costs in the long run.

Healthcare Industry Analyst

The strategic alliance between Medtronic and Modernizing Medicine® (ModMed) is a testament to the ongoing convergence of healthcare and technology sectors. The integration of Medtronic's AI-driven endoscopic solutions with ModMed's gGastro® EHR software could be a transformative move for both companies, potentially opening up new market opportunities. By enabling real-time, AI-generated data to be seamlessly incorporated into patient records, the collaboration could enhance the quality of care and improve operational efficiencies within gastroenterology practices.

From an investment standpoint, this partnership may be viewed favorably by the market as it leverages Medtronic's established presence in medical technology with ModMed's expertise in EHR software. The ability to offer a comprehensive solution that addresses both diagnostic and administrative challenges could strengthen Medtronic's competitive position in the market and possibly lead to an increase in adoption rates of the GI Genius™ system. In the long term, this could translate into sustained revenue growth for Medtronic, provided the integration with ModMed's EHR is successful and well-received by healthcare providers.

AI-driven solutions and strategic alliances showcase Medtronic's promise to enhance the efficiency and effectiveness of endoscopy

DUBLIN, April 10, 2024 /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, announced the latest advancements in artificial intelligence (AI) for endoscopic care by unveiling ColonPRO™, the latest generation software for the GI Genius™ intelligent endoscopy system, along with a strategic collaboration designed to enhance patient care.

GI Genius™ was the first commercially available computer-aided detection (CADe) system used AI to identify colorectal polyps. Its significant impact has been well researched with more than 30 academic and real-world publications across a combined total of 23,000+ patients.¹ Based on the current global install base, the GI Genius™ system has the potential to impact 2.7 million patients annually.² Now, with the launch of ColonPRO™ software, the GI Genius™ system takes a significant leap forward in AI-driven polyp detection by introducing an enhanced algorithm, supported by a dataset that is double the size of the previous one, resulting in a notable improvement in its detection capabilities. Specifically, there's been a 9% reduction in false positives.³ Additionally, the system now incorporates a new feature that provides procedural highlights;³ an important milestone in its ability to automate physicians' workflow, reduce administrative burdens in documentation, and pave the way for future integration with electronic health records. The update also provides user interface enhancements to support the development of third-party applications through the AI Access™ platform, introduced at last year's Genius Summit.

Medtronic also announced its collaboration with Modernizing Medicine® (ModMed), a pioneer in healthcare technology and Electronic Health Records (EHR), further emphasizing its commitment to a synergistic approach to the future of endoscopic care. ModMed's gGastro® EHR software is complementary to the GI Genius™ system, offering robust documentation solutions.

"Through our collaboration with ModMed, we can continue to help gastroenterologists achieve greater efficiency by streamlining workflows and leveraging augmented decision-making, freeing up valuable time for patient care," said Raj Thomas, president of the Endoscopy business, which is part of the Medical Surgical Portfolio at Medtronic. "We are committed to working with industry leaders and focusing on where we can best offer innovation, addressing unmet clinical needs and elevating the standard of care."  

The companies will begin testing out new capabilities for future integration, moving closer to their shared vision of enabling gGastro® EHR software to receive real-time, AI-generated data from the GI Genius™ system, making the documentation process more efficient and enabling physicians to spend more of their time on patient care.  

"This is a true game changer for physicians — it represents precisely how physicians want AI technologies implemented and it will allow us to focus our energy on thinking about the patient and providing the best care possible," said Dr. Jason Sugar, Gastroenterology Team Lead at ModMed.

Medtronic's announcements at the Genius Summit underscore its dedication to advancing colorectal cancer care with AI innovations and strategic collaborations. Medtronic remains at the forefront of delivering solutions that address the needs of patients and physicians alike.  

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow Medtronic on LinkedIn.

About ModMed 
At ModMed, we empower medical practices to grow and scale by delivering better patient experiences with cloud, data, and AI technologies. Leveraging extensive clinical outcomes data, we design intelligent software solutions that simplify, automate and streamline clinical workflows and drive practice efficiency. With our specialty-specific EHRs, practice management, revenue cycle management and analytics solutions as well as products for patient engagement, payment processing and marketing, we are trusted by over 35,000 providers to drive clinical and operational success. Learn more at modmed.com or our blog and connect via Facebook, LinkedIn, Twitter and Instagram.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

Modernizing Medicine®, ModMed® and gGastro® are registered trademarks of ModMed.

References

1. Cosmo intelligent medical devices. The revolutionary GI Genius™ intelligent endoscopy module. https://cosmoimd.com/gi-genius/  Accessed March 25, 2024
2. Internal data, based on shared colonoscopy volumes per facility
3. CB1708-MN-US: GI Genius™ systems User Manual

Contacts:
Sabrina Zimring	Ryan Weispfenning
Public Relations	Investor Relations
+1-720-774-3454	+1-763-505-4626

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SOURCE Medtronic plc

FAQ

What is the latest AI software launched by Medtronic for endoscopic care?

Medtronic launched ColonPRO™ software for the GI Genius™ intelligent endoscopy system.

What is the impact of GI Genius™ system in identifying colorectal polyps?

GI Genius™ system has been well researched with a significant impact on identifying colorectal polyps, potentially impacting 2.7 million patients annually.

What is the improvement in detection capabilities with the launch of ColonPRO™ software?

ColonPRO™ software introduces an enhanced algorithm with a 9% reduction in false positives, supported by a dataset double the size of the previous one.

Who did Medtronic collaborate with to enhance endoscopic care workflows?

Medtronic collaborated with Modernizing Medicine® (ModMed) to streamline workflows and improve patient care in endoscopic procedures.

What is the goal of the collaboration between Medtronic and Modernizing Medicine®?

The collaboration aims to leverage augmented decision-making and AI technologies to free up valuable time for patient care in endoscopic procedures.