Jvion wins Intel Innovation Award
Avoiding Patient Suffering before It Happens
(Left: Jvion’s CEO and cofounder, Shantanu Nigam.)
Jvion, an Atlanta-based provider of clinical predictive algorithms, beat three other finalists to win the Intel Innovation Award at the Health IT Leadership Summit held in Atlanta November 20, 2014. Jvion’s RevEgis predictive analytic software delivers patient-level predictions to help providers prevent illness while reducing the cost of care.
The Health IT Leadership Summit was founded in 2010 by the Georgia Department of Economic Development, the Metro Atlanta Chamber, and the Technology Association of Georgia’s Health Society. Tino Mantella, president of TAG, says, "These innovative and growing companies are what helps make Georgia the nation's leader in health IT and a driver for the 17+ percent growth we have seen in the sector's employment in the past five years."
Jvion’s CEO and cofounder, Shantanu Nigam, has a bachelor’s degree in technology from IIT-Kanpur and was an executive in Accenture’s healthcare consulting practice. He also worked at ACS-Xerox and co-founded a machine-learning heuristics firm. Jvion COO Ritesh Sharma spent nearly 10 years at Accenture, where his focus was on program management, client services, and business development. CIO Surya Vadlamani was a senior manager at Accenture in the health and life sciences practice.
“We set out to create a learning machine that went beyond advanced statistics to account for the complex drivers that underlie adverse events such as hospital-acquired conditions,” according to Jvion. Research and modeling techniques are applied at the patient level; predictions target interventions and reduce patient suffering. “The potential impact and value of RevEgis is staggering. For example: stage iii and iv pressure ulcers (PUs) average $43K in unreimbursed cost per patient discharge. For a large hospital, this adds up to a $12.9M problem annually in addition to the 30% increased risk of mortality. At current accuracy levels for PUs, we could cut this loss by $11.61M for a single large hospital while improving health outcomes and potentially saving many lives. And this is just one illness.”
Hopefully this can also help Georgia hospitals in financial danger--see details in Khabar's January report at http://www.khabar.com/magazine/around-town/political-summit-explores-role-of-asians-and-other-minorities.
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Shantanu Nigam is an experienced executive and a successful entrepreneur with diverse experience with payers, hospitals, and pharmaceutical organizations. A recognized thought leader, with multiple publications focused on foresight in a changing market, he brings a unique mix of deep healthcare domain knowledge, strategy consulting and a record of significant achievement in leading cross functional areas including sales, marketing, strategic business planning and team building.
1. Why does CMS come up with so many mandates; what’s the purpose of doing so?
2. And do these mandates have the intended impact? Or are there unintended consequences?
3. Patient care? Where is the patience in this entire equation? Are they penalized as a result?
4. What are the keys to the industry truly becoming patient-centered? Proactive thinking / preventive medicine is a critical element to this…
5. The healthcare industry is becoming much more accepting of new technologies, which is exciting.
6. What is the true potential to predictive analytics? How do we expedite its adoption?
Contact: Wendy Alpine, 404-641-6170, http://www2.marketwire.com/mw/emailprcntct?id=167B0AD7D14C1161
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