With the increasing demand for financial sustainability, better care delivery, patient centricity, and digital transformation, the modern healthcare leaders are on route to transforming their systems and infrastructure for a smarter health community. However, the exponential advances in innovative technologies, from Blockchain, RPA, cloud, AI, and robotics, to internet of medical things (IoMT), digital and virtual reality, has enabled the healthcare providers to manage clinical, operational, and financial challenges and design new care delivery models. This also supports in building a sustainable foundation for affordable, accessible, high-quality healthcare.
Moreover, the emergence of personalized medicine, increased use of exponential technologies, entry of disruptive and non-traditional competitors, the demand for expanded care delivery sites, and revamped payment and public funding models are all impacting the performance of the healthcare ecosystem. In such a scenario, the healthcare market is looking for new health technology providers for help, along with mergers, acquisitions, and partnerships. In this new edition of Technology Innovators, we are presenting to you the Top 20 Most Innovative Healthcare Technology Companies in 2019 to help you gain understanding and insight about the innovative technologies in healthcare industry which play an integral role in driving speed, quality, and accuracy, while improving the patient experience.
We hope this will help you get opportunities for augmentation and automation in clinical workflows, which allow clinicians and patients to benefit from an aligned financial reimbursement system, new technologies, innovative talent models, and extended locations where care is delivered.
Peter Hickey, CEO
A 67-year-old female was treated at the Nova Scotia Health Authority for mycosis fungoides of the forehead, eyelid, and nose with mycosis fungoides involving the upper face. As a part of her treatment plan, the application of bolus for Modulated Electron Radiation Therapy (MERT) was necessary to deliver the prescribed dose to the skin surface to treat her disease with two separate electron fields.
Matthew Stoudt, CEO
AppliedVR is the leader in therapeutic virtual reality, transforming healthcare through the power of pixels. Since its founding in 2015, appliedVR has delivered scientifically designed and validated digital health solutions to over 20,000 patients in more than 250 hospitals and in 8 countries globally. The company’s leading digital wellness platform has been used to impact chronic pain as well as acute pain and anxiety experiences before, after, and during surgery, child labor, oncology infusions, emergency room procedures, and rehabilitation sessions.
Dr. Abraham Heifets CEO
Atomwise patented the first deep learning technology for structure-based small molecule drug discovery. This AI technology harnesses millions of data points and thousands of protein structures to solve problems that a human chemist would take many lifetimes to solve. We’ve partnered with some of the world’s largest pharmaceutical and agrochemical companies, and with more than 50 leading academic institutions and hospitals, to tackle the challenges of discovering and developing better drugs and chemicals. Recently, Atomwise raised $45 million from leading venture capital firms to support the development and application of its AI technology.
Joanna Shields, CEO
BenevolentAI is the global leader in the development and application of artificial intelligence (“AI”) for scientific innovation. We aim to accelerate the journey from inventive ideas to medicines for patients by developing AI to generate new treatments for some of the world’s 8,000 untreated diseases.
Josef Scheiber, MD & Founder
Medical errors are as fatal as terminal diseases. Often numerous patients die due to the recurring medical errors in the healthcare systems. The modern healthcare sector is continuously challenged with this festering issue as they strive to deliver safe and higher quality care.
Jacob Lee, CEO
Despite the upheaval that AI has created in the healthcare space, the lack of well-annotated data has been the biggest challenge in the development of disease detection AI engines. It slows the process and is very expensive. Moreover, annotation and labeling demand a heavy workload from medical doctors in the development stage of medical AI engines. Applying his extensive experience in objective recognition for medical image-based diagnosis using AI deep learning, Jacob Lee found the perfect solution to reduce the burden from this data annotation and labeling process.
Tanveer Patel Co-Founder & CEO
Digitization has crawled into every phase of healthcare. As consumers of healthcare are gaining more medical knowledge, the demand for better service and outcomes is increasing like never before; and the only means to meet this need is through technology. “The best way to deliver healthcare to all at high quality is to be preventative and reach the consumers early before they need it,” notes Tanveer Patel, Co-Founder and CEO of ConcertCare.
Brendan Frey, Founder & CEO
Deep Genomics is using artificial intelligence to build a new universe of life-saving genetic therapies.The future of medicine will rely on artificial intelligence, because biology is too complex for humans to understand. At Deep Genomics, our geneticists, molecular biologists and chemists develop new ways of detecting and treating disease using our biologically accurate artificial intelligence technology.
Nat Turner, Co-Founder & CEO
Flatiron Health is a healthcare technology company, develops software that connects community oncologists, academics, hospitals, life science researchers, and regulators on a shared technology platform.It offers Flatiron Platform, a web-based business and clinical intelligence data platform that integrates and structures disparate information systems to produce a view of the patient population, provides analytics for business intelligence, resource utilization, marketing, treatment patterns, network management, and research and clinical trials, and allows cancer care providers and life sciences companies to track metrics related to cancer care, monitor adherence to national guidelines across their clinicians, match patients to clinical trials in real-time, and ask custom questions of their data.
Mike Klein, CEO
A software solution that allows rapid, automated, and accurate analysis of next-generation sequencing data to speed up discovery work and diagnosis.
Dan Burton, CEO
Health Catalyst is dedicated to enabling health care organizations to fundamentally improve care by building the most comprehensive and fully integrated suite of healthcare data warehousing and process improvement solutions available.Health Catalyst was formed by a group of healthcare veterans with vast data warehousing and quality improvement experience. Our founders and executives collaborated for nearly a decade to revolutionize clinical process models using analytics. During development, they faced numerous hurdles in the quest to develop a data warehouse that could handle the complexities unique to healthcare data.
Jun Wang, Founder & CEO
iCarbonX is a technology company that is changing how people monitor and understand their health status and optimize their lives. We are building the platform and tools for digitizing, analyzing, and understanding life, and delivering intelligent products and applications—designed for every aspect and stage of life—to help everyone make smarter choices, every day.
Joseph M. DeVivo, CEO
InTouch Health provides the most reliable, dedicated cloud-based network and virtual care solutions that ensure connectivity for health systems, providers, and patients at all times. Today, InTouch Health supports more than 2,500 care locations around the world – including many of the top 20 health systems – as they deploy telehealth programs across their enterprises. InTouch Health has surpassed 2.2 million network sessions, which includes 1,000,000 telehealth virtual care sessions over the InTouch Telehealth Network.
Christopher J. Ianelli, MD, CEO
During his service at the Brigham and Women’s Hospital in Boston, Dr. Christopher Ianelli noticed a software solution that orchestrated the distribution of leftover specimens to researchers developed within the clinical laboratory of the hospital. Acknowledging that these “clinical remnant” specimens held tremendous value for medical research, he quickly realized the power of this solution to reduce waste and accelerate research by connecting bench researchers to a steady supply of remnant clinical samples.
Justin Barad, MD Co-Founder & CEO
Osso VR is an award winning VR surgical and medical device training platform. The company is made up of practicing clinicians, professional VR developers and medtech industry veterans. We specialize in hyper-realistic, haptic-enhanced, hands-on interactivity and design.
Erik de Heus, CEO
SkinVision is an awareness and tracking solution that supports individuals with the early recognition of melanoma, squamous cell carcinoma, basal cell carcinoma and precancerous actinic keratosis. SkinVision is the first certified skin cancer application globally based on extensive clinical trials in partnership with the university clinic of Ludwig Maximilian University (LMU) in Munich in 2013, published in the JEADV in 2014. The company has built up a customer portfolio of 1,200,000 users globally and a database of 3,5 million pictures of suspicious skin conditions.
Dirk Wagener, GM
Cardiovascular disease or CVD is a global problem. Though typically viewed as a “rich-world disease”, it has now migrated to many developing countries. The rising prevalence of CVD, today, calls for cost-effective and intelligent patient-centric healthcare technology that empowers care teams and has a real impact on patients.
Gabriela Fuentes, COO
The value of AI has been accelerating the healthcare space at an increasing rate. In fact, AI-powered medical diagnostics is today driving the critical changes across the care continuum. However, AI technologies are not believed to replace doctors despite its transformative power. “We view AI only as a new medical device that allows doctors to ‘better see’ each case,” says Gabriela Fuentes, COO, Transmural Biotech or TMB. “For instance, doctors with different degrees of training reach different conclusions on a clinical diagnosis. Instead, if they have access to data-driven AI image processing technology to support their decision, objective results can be attained regardless of their training.” Upholding the same principle, TMB develops innovative clinical solutions and services using disruptive technologies based on AI.
Nersi Nazari, CEO
VitalConnect provides physicians, nurses and patients with an extraordinary advancement in healthcare. Never before has so much continuous monitoring of vital signs been possible in a single, small—yet powerful—device. By consolidating eight critical vital signs into one wireless biosensor,VitalPatch enables a new view into healthcare, but more importantly it connects all interested parties in a patient’s recovery with each other.
The word nano take us to the tiniest shapes but the measurement of nano is much smaller than what we expect. Nano can be defined as one billionth of something. The measuring scale of nano is recently been added to almost every business sector including medical sector. It is allowing the medical professionals to measure and study the tiniest particles like cell components, viruses, DNA, and more. With the help of nano technology, medical sector has developed sub microscopic labs, tools, tubes and robots. DNA is the most basic element of human body, with the manipulation of DNA a number of diseases can be treated effectively by having a great control over the growth of DNA. Use of nanotechnologies is done by using nanoparticles for the treatment for which nano-robots are developed in the form of medicines to revitalize the cellular parts of a body. There are certain diseases that require crucial substances for a particular cell development as a treatment of the disease, for example cancer. With the help of nanotechnology, particles are engineered which can effectively engage with the affected cells and repair it with a direct treatment.
Advancements in the medical sector is not hidden from anyone, every single eye in this world has witnessed a great transformation in the medical assistance and the medical professionals too. Innovation is sole reason for this excellent transformation of medical health sector. In the past few decades, medical industry has gone through several advancements, right from the scanning machines till remote medical assistance. A world technology is not a single element which is responsible for this giant change, but it has enclosed several innovations within this world. If compared to past decade, now we are answerable to a number of diseases which were unknown before a decade. Not only we have answers for those but also we have effective treatment for almost diseases. Technologies are not majorly developed for the medical sector, but with the help of great professionals and technological developments, now we are able to modify and utilize latest technologies in medical sector too, such as artificial intelligence, big data, virtual reality, augmented reality, sensors and many more. In the first view the above mentioned technologies take you to the gaming zone, finance department, or huge IT sectors.
If you take a survey then five out of every ten folk is struggling with some or other health disorder and two among those are at the critical stage due to late diagnosis of the disease. To put an end to this issue, a regular health checkup is required, so that you can understand your health condition and do the needful to get rid of it. But the question is “how many of us go to the medical practitioner for a routine healthcare checkup?” Answer will be very few. To avoid this condition, several scientists and inventors are trying to develop a device which will be handy and can be afforded by every single folk to practice their self-health checkup. The device is names as medical tricorder, a portable handheld device for diagnosing health conditions within seconds. The device is not available in the real world market but several brains are working for this great invention with an intension to upgrade the medical sector. Experts have developed a huge variety of devices to support the medical professionals diagnosing various types of diseases. Each type of disease has a distinct device and the operations of such device are known to the practitioners only. There is no such device which is capable enough to diagnose distinct types of health conditions.
A new era of telemedicine has been emerged with the advancements of technology and its use in the healthcare industry. Evolution of technology has enabled health care professionals to provide more promising treatments to the patients regardless of their location and situation. If you talk about the impact of technology over the healthcare sector then it is countless, but few major transformation that has been brought by the technological growth are access to the best medical practitioner anywhere from the world, immediate medical assessment of a patient, latest treatment technologies and many more. Incorporation of digital platform is one of the best advancements in medical and also a great reason for the change of medical phase. Health records must be kept for years and years, because any further treatment may require the details of your health record or any type of treatment taken by the patient in his medical history for an effective and also safe treatment. Keeping such records manually is really a tough task for a folk. Now, technology has a solution for this problem as it have given an option to save health records along with the health checkup reports in the cloud system.
When Electronic Medical Records (EMRs) were introduced in the early 1970s the vision was clear: digitizing patient records would make healthcare more efficient, and better for the patient and provider. Fast forward to today—we’ve come a long way towards the goal of a better system, but we aren’t quite there. We’ve identified the industry’s pain points, and laid the groundwork for solutions. Widespread adoption of the three healthcare tech ideas below will be crucial to building a healthcare system that is better for patients and the clinicians alike. In 2018, the Centers for Medicare and Medicaid (CMS) renamed “Meaningful Use” to “Promoting Interoperability”, which is a good indicator that we are inching closer to greater efficiency in healthcare. Essentially, interoperability means the ability for health information systems and software apps to communicate, exchange data and use the data they’ve shared. “Digitizing healthcare” was initially driven by revenue optimization and then care standardization. Clinical efficiency seems to be the forgotten promise but will ultimately be one of the most meaningful outcomes. While EMRs have made huge strides in digitizing healthcare and allowing for data to lead the way, they haven’t always communicated well with each other or other technology. Enter Fast Healthcare Interoperability Resources, or ‘FHIR.
Apps, and their use for the promotion of health and wellbeing, are the subject of increasing interest and enquiry; particularly in light of the NHS’ Long Term Plan, and ever-increasing pressures on scarce NHS resources. But finding and downloading effective, engaging, and most importantly, safe health-apps, is a significant challenge. While many have suggested that health-apps could be a ‘silver-bullet’, aimed at quashing the woes that stem from decreasing funding and increasing demand for incumbent NHS services, it is important to tread with caution. Unlike pharmaceuticals, over the counter remedies, talking therapies, physiotherapy or surgery, health-apps can not only be sought, but readily obtained in absence of gatekeeping and safeguarding. The result is that you or I can download upwards of 200,000 health-apps today, with as little as a click of a button on the app-store. While this can be argued as the unique value-proposition of app-based health technologies, a lack of guarantees regarding the quality and content of such apps, means that this open-access feature of apps also represents the chief concern; and is likely limiting the enthusiasm with which healthcare professionals engage and promote their use.
In a properly functioning brain, both hemispheres communicate equally and at lightning speed, millions of times per minute. In a poorly functioning brain, the left and right sides of the brain only impart partial information, causing frequent miscommunication. This is called Functional Disconnection and is the root of many types of learning, behavioral and social problems found in children. The Brain Balance program puts the left and right brains back in sync using sensory motor exercises, academic skill building, and nutrition guidelines. The assessment consists of sensory, motor, and academic testing of more than 900 functions. The outcome of this assessment is a highly customized report providing parents with a complete understanding of their child’s behavioral, social, and academic skill levels. We use AI to determine which brain hemisphere we believe to be stronger or weaker. The Machine Learning algorithm used for the assessment is not always accurate, which we know based on the feedback from our staff—yes we let them disagree with the system, which is intended as a tool to help them support their own assessment, but not to necessarily force them into a decision they don’t agree with.