Artificial Intelligence Predicts Hospitalizations & Patient Demand for Healthcare Supply Chains
- Dow closes lower after disappointing bank results
- JPMorgan (JPM) Stock Falls 5% After Q4 Results, Top-Line Beats but 2022 Expense Outlook Disappoint, Analyst Expects Rising Wage Inflation to be a Key Earnings Theme
- Netflix raises monthly subscription prices in U.S., Canada
- Apple (AAPL) Stock Receives Three Price Targets Hikes Today, Wedbush Positive on Live Sports Content Opportunity
- Wells Fargo (WFC) Tops Street Estimates, Profit Fueled by Loan Demand and Cost Cuts
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Quebec City, Nov. 17, 2021 (GLOBE NEWSWIRE) -- MUUTAA, the healthcare AI company behind a cloud-based platform that powers deep learning to inform smarter supply chain decisions, support better care and ultimately improve health outcomes, has announced market availability of DemandAMP+. As the first and only AI solution for healthcare supply chains that focuses on patient-driven demand, this new AI-as-a-Service offering supports supply chain decision-making by integrating essential data elements that have historically been largely out of reach for supply chain managers.
Through collaboration with The Centre hospitalier de l'Université de Montréal (CHUM), a university hospital recognized worldwide in innovation and applied AI in health and with financial support from Canada’s AI Supercluster, Scale AI, the team delivered a solution to precisely forecast and optimize supply chain procurement, which is essential for driving better care at lower costs.
This cohesive collaboration focused on using AI to predict patient demand for hospital and health center services based on various internal and public health datasets. The goal was to more accurately forecast current and future needs for medical supplies and medications.
Projected results of the project include significant reductions in safety stock levels and carrying costs. In the event of peak demand (seasonal flu, natural disaster) or shortages the solution will provide information required to adequately communicate forecasts to the distribution partner and avoid substitutes and stockouts.
"The CHUM is proud to contribute to the development of solutions that create value for the healthcare network, teams and patients, in partnership with companies such as MUUTAA. We thank our partners, MUUTAA and Scale AI, for their respective contribution to this achievement," said Kathy Malas, Assistant to the President and CEO, Innovation and Artificial Intelligence Pole, General Management at CHUM.
The funder for the project, Scale AI, is a consortium of private entities, research centers, academia and high-potential startups. Scale AI identifies cross-sector collaborative projects and provides funding and expert guidance aimed at helping Canada stay ahead of the AI curve.
As Julien Billot, CEO at Scale AI, explains: "This project is a perfect example of how Scale AI acts as an investment and innovation hub that accelerates the rapid adoption and integration of artificial intelligence and contributes to the development of a world-class Canadian ecosystem."
With this successful collaboration and market availability, MUUTAA is expanding into the U.S. healthcare market and is currently working with several U.S. client organizations.
“We are grateful to CHUM and Scale AI for partnering with us,” says Korina Fischer, MUUTAA cofounder and chief executive officer. “Our ultimate goal is supporting health systems with innovation that improves demand sensing, forecasting and decision making, while also delivering essential building blocks for clinically integrating the supply chain.”
- Press Release - Artificial Intelligence Predicts Hospitalizations & Patient Demand for Healthcare Supply Chains
Lindsey Elliott Dobies Health Marketing 816-595-6732 email@example.comSource: Dobies Health Marketing
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PGS ASA: Awarded Endurance CCS Acquisition Contract
- December 2021 Quarterly Activities Report
- Caledonia Mining Corporation Plc Production Update & Record Annual Production at Blanket Mine
Create E-mail Alert Related CategoriesGlobe Newswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!