Of the many ingredients that go into quality healthcare, comprehensive patient data is close to the top of the list.
No one knows this more than Mayur Saxena, CEO and founder of聽. Saxena created his startup while pursuing his doctorate degree at Columbia University and working at a healthcare company conducting clinical trials on new medication.
He is energised by the plethora of opportunities to improve healthcare using artificial intelligence (AI) and machine learning.
鈥淧atient data is notoriously disorganised and complex,鈥� Saxena said. 鈥淲ith machine learning, healthcare professionals can organise that information to better understand the disease of every patient and reach them faster with interventions that improve their lives. It鈥檚 an amazing feeling when you talk with someone who鈥檚 recovered from an illness because they received the right care.鈥�
The idea behind Droice is to make messy data neat so people can spend less time organising it and more time analysing it.
Insights Drive Personalised聽Patient Care
The startup has collected data from 50 million patients while working with healthcare providers, payers, and government organizations in the U.S. and Europe. Healthcare professionals in hospitals, pharmaceutical firms, medical device manufacturing, and insurance rely on Droice Labs鈥� natural language understanding (NLU) technology. NLU makes sense of patient information in multiple languages from anywhere, such as electronic medical records (EMR), insurance claims, research reports, and medical devices.
鈥淥ur machine learning system takes all the data about an individual into account and breaks it down so that a doctor, pharmaceutical scientist, or healthcare insurer can understand patients better and faster,鈥� explained Saxena. 鈥淚nstead of repetitive, disparate, one-on-one diagnoses and follow-up care, we鈥檙e automating personalised care for a much larger patient population. With shared insights across a large patient population, physicians can chart disease progress and prescribe the best treatment plan. Clinical research into new drugs that took years could be reduced to days or weeks.鈥�
Saxena said that one hospital reduced the amount of time it took to arrive at an appropriate patient diagnosis by over 20 percent.
SAP.iO Foundries Opens Up World of Healthcare Opportunities
Droice Labs recently participated in the latest healthcare-focused accelerator program at聽SAP.iO Foundry New York. It was one of seven up-and-coming startups working with hospital system providers, employee health and wellness solutions, medical devices, and health IT.
鈥淲e鈥檝e learned so much about customers in the healthcare industry from SAP鈥檚 sales and product teams,鈥� said Saxena. 鈥淭hese large organizations have unique needs, and we鈥檙e grateful for the opportunity to partner with SAP, a company with a massive presence across so many geographies. We鈥檝e gained valuable insights about strategic global selling and scaling our technology to meet the unique requirements of these customers.鈥�
The Droice Labs machine learning platform is聽.
Turning Long-Time Passion into Thriving Startup
Droice Labs reflects Saxena鈥檚 long-time personal and career commitment to healthcare. After earning his undergraduate degree in bio-engineering and biomedical engineering, he worked in high-performance computing in Singapore before arriving in the U.S. That is when he acted on his passion, exploring how AI and machine learning can help improve patient care and potentially eradicate disease.
鈥淲e鈥檙e looking at data from hundreds of thousands of patients a day, helping improve their care pathways across the healthcare system,鈥� said Saxena. 鈥淲e have the technology to work with patient data at scale. I鈥檓 most excited about working together with recognised healthcare experts using state-of-the-art technology to address major challenges in this complicated, regulated industry.鈥�
Digitally Trustworthy Strategy at Droice Labs
In an environment where patient concerns and regulations around data control continue to increase, Saxena emphasised his company鈥檚 strategy of digital trust.
鈥淓verything we do is designed to respect individual patient privacy,鈥� explained Saxena. 鈥淲e don鈥檛 possess related identifying data on patients, and we remove any identifiers. Working in a mission-critical environment like healthcare brings a set of responsibilities. If there is a population suffering from disease, and by looking at their information we can partner with healthcare providers to help make their quality of life better, that鈥檚 what we鈥檒l do. But we don鈥檛 participate in business models targeted to specific individuals.鈥�
Saxena expected his company鈥檚 rapid growth trajectory to continue, and it was easy to see why. According to Gartner鈥檚 2020 CIO Survey, AI is the healthcare industry鈥檚 top game-changing technology. Analysts聽聽75 percent of聽healthcare delivery organizations聽will invest in an AI capability to explicitly improve either operational performance or clinical outcomes by 2021.
This article first appeared on the Global 51风流News Centre.
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