analyticsMD, an AI-based software platform that solves operational challenges across the hospital including emergency departments, perioperative areas, and patient safety has rebranded as Qventus to reflect the company’s rapidly growing product offerings. The new name was inspired by the belief that emerging technology can power the winds of change in healthcare. It underscores the company’s mission to simplify how healthcare operates so that hospitals and caregivers can focus on providing the best possible care to patients.
Founded in 2014, Qventus has committed itself to improving operational efficiency and patient experience by making data useful to hospital teams. As the hospital industry has invested billions of dollars on EMRs and collected massive amounts of data, the ability to easily use data to make decisions in real-time has rarely been possible. Qventus was created to reduce the burden on clinicians by helping them get ahead of the issues. The platform helps hospital teams anticipate problems, such as bottlenecks, and take immediate action. It brings together a combination of machine learning, data science and behavior science to achieve measurable ROI through streamlined processes.
“Medically speaking, the U.S. healthcare system is among the most advanced in the world, yet the operational processes supporting care have lagged. We haven’t invested in solutions that give clinicians the consistent and reliable processes they need to provide the best possible patient experiences. Instead, we rely on their heroics. This has led to tremendous waste and it’s just not sustainable,” says Mudit Garg, CEO and co-founder, Qventus in a statement. “We believe that it’s time to stop looking for silver bullets. By focusing on the small, day-to-day decisions, we can over time create massive improvements in healthcare. We are honored to be partnering with some of the country’s most innovative hospitals that share our beliefs and are thrilled to see the measurable impact they are having with our solution.”
The company’s offering is in a sweet spot as today’s hospitals face more pressure than ever to balance rising costs and patient demand for better experiences at a reasonable price. Industry bankruptcies are becoming more common. Yet, in the U.S. alone, it is estimated that over $100 billion in inefficiencies could be saved through more effective use of assets and existing IT systems.