LeanTaaS on Tuesday announced its acquisition of IQ Hospital. Terms of the deal were not disclosed, but the two companies said by merging they would create a $1 billion business focused on artificial intelligence-based operations in more than 180 health system of the United States.
WHY IT IMPORTANT
LeanTaaS provides predictive analytics to address capacity management and other operational needs for operating rooms and infusion centers in 150 health systems and 500 hospitals in 43 states.
Hospital IQ, which has partnerships with many technology vendors including Oracle Cerner, Altera Digital Health (formerly part of Allscripts) and Siemens Healthineers, provides workflow
automation and workforce management.
Steve Hess, chief information officer at UCHealth, said: “We are at a critical tipping point as health systems across the country grapple with the lingering effects of COVID-19 and the challenges knowledge of endemic personnel”.
UCHealth is a strategic partner and early investor in LeanTaaS.
“There is certainly market demand for these solutions, and I look forward to seeing how the combined team will drive the wave of AI-driven innovation to transform hospital operations,” said Hess.
LeanTaaS and Hospital IQ say they can improve performance by driving improved patient access, employee satisfaction, and revenue productivity across multiple departments.
TREND TO BIGGER
Hospitals around the country are trying to figure out how to expand or optimize their spaces and processes to meet the growing need for care.
With AI-powered tools and analytics, healthcare systems can help streamline common workflow challenges.
For example, after implementing a queue management tool for inpatient beds from LeanTaaS, UCHealth reduced the time it takes to complete ICU transfers by 37%, the time to hospital admissions by 4%, and the improvement by 90%. reliability in important decisions about competence.
Analytics can help break down hospital-wide summaries for use by multiple staff and providers.
“Employers can quickly see, at any time and from any location, the status of capacity, as well as which units are working efficiently with discharge and which are lagging,” says Hess. lag behind and need more focused support from staff to reduce delays.” Healthcare IT News in 2021.
ON PROFILE
Mohan Giridharadas, founder and CEO of LeanTaaS, said in a statement: “The strategic combination of LeanTaaS and Hospital IQ unites the two best players in hospital operations at a time of industry demand. deep demand. “Every health system in the country has an urgent need to improve the use of both staff and assets to improve patient access.”
Andrea Fox is the senior editor of Healthcare IT News.
Email: [email protected]
Healthcare IT News is a publication of HIMSS.
