Qventus Achieves Major Milestones in 2021 as Leader in Care Operations Automation Market

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In 2021, Qventus' real-time platform generated over 15 billion patient-level predictions, enabling health systems to automate access and patient flow for more than 2 million patient encounters.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, January 31, 2022
Information
Tags: 
COVID-19, CEO, Patient, Hospital, Automation, Mercy, Organization, University, M Health Fairview, OR, IEEE Medal for Innovations in Healthcare Technology, Cone Health, Boston Medical Center, Medicine, AI, Machine learning, Length of stay, Academic health science centre, University of Arkansas, Efficiency, Research, Allina Health, UnityPoint Health, Fast Company, Laika (EHR testing framework), USC, ThedaCare Regional Medical Center–Neenah, Solution, Surgeon, Medical device, Pharmaceutical industry, Health insurance
Geotags: 
ARKANSAS, CHILMARK
Organisation: 
QVENTUS INC.
Summary
Key Points: 
  • In 2021, Qventus' real-time platform generated over 15 billion patient-level predictions, enabling health systems to automate access and patient flow for more than 2 million patient encounters.
  • As a result, health systems using Qventus were able to achieve breakthrough efficiency improvements, eliminating more than 200 years of excess days.
  • In addition, Chilmark Research named Qventus as the Flagship Vendor Hospital Operations and Change Management in their 2021 Augmented Intelligence for Health Care Operations Market Trends Report.
  • Qventus is the leading provider of AI-based software for care operations automation.


Qventus Achieves Major Milestones in 2021 as Leader in Care Operations Automation Market

MOUNTAIN VIEW, Calif., Jan. 31, 2022 /PRNewswire/ -- Qventus, the leading provider of AI-powered software for care operations automation, today announced that it had achieved major milestones helping health systems harness AI and machine learning to solve their most pressing operational challenges.

In 2021, Qventus' real-time platform generated over 15 billion patient-level predictions, enabling health systems to automate access and patient flow for more than 2 million patient encounters.  As a result, health systems using Qventus were able to achieve breakthrough efficiency improvements, eliminating more than 200 years of excess days. These improvements were achieved without adding new resources, which is critically important given both Covid-related capacity constraints and industry-wide staffing challenges. During 2021, Qventus also established and expanded partnerships with leading health systems, introduced a new solution to drive surgical case growth, and garnered prestigious industry recognition, among other notable achievements. 

"Operational waste is a massive problem in healthcare, and Covid and staffing challenges further intensified the need to address inefficiencies," said Mudit Garg, Co-founder and CEO of Qventus. "To succeed in the new normal, health systems are expanding their use of AI and automation from the back office to the realm of care operations, which includes all of the operational activities associated with the delivery of care. As the first and only complete system for automating care operations, Qventus is proud to help our health system partners achieve significant efficiency improvements that not only solve their immediate capacity and staffing issues but also help them create a sustainable competitive advantage."

New Partnerships and Deployments

In 2021, Qventus established numerous new health system partnerships, went live with new solutions, and expanded partnerships at existing health system customers, including: Allina Health, Cone Health, Keck Medicine of USC, M Health Fairview, Saint Luke's Health System, ThedaCare, UnityPoint Health - Des Moines, University of Arkansas for Medical Sciences, UVA Health, and more.

These new customers join Qventus' established network of large health systems, academic medical centers, and community hospitals throughout the country.

Introduction of Perioperative Solution

The company also introduced the Qventus Perioperative Solution that enables leaders to add over 2 cases per OR per month, increase block release lead time by over 7 days, and improve margins by over $3M per facility. Built on top of Qventus' best-in-class automation platform, the new solution includes three modules:

  • Access unlocks additional OR time by using machine learning to predict unused blocks weeks in advance and then by applying behavioral science principles to encourage release of that time -- while continuously optimizing the OR schedule
  • Growth automatically adds surgical cases to the OR schedule that align with strategic goals by offering OR time to surgeons and schedulers as well as by providing a reservation interface to view and request OR time -- without logging into the EHR
  • Insights monitors operational performance in real-time for perioperative leaders and also surfaces efficiency improvement opportunities directly to surgeons so they can grow their case volume

Since the solution launched in mid-2021, the machine learning identified and successfully drove release of over 1,400 hours of new OR time that would have otherwise not been used, creating capacity to provide surgical care for more patients. Separately, Qventus intelligence generated 26,000 automated offers for unscheduled OR time to surgeons predicted to be the ideal fit. These predictions and more also reduced over 10,000 hours of back-and-forth phone calls for OR schedulers.

Significant Reductions in Excess Days

As health systems aggressively pursue new strategies to reduce excess days, organizations using the Qventus Inpatient Solution to automate discharge planning processes achieved and sustained meaningful improvements, including:

  • Up to 1 full day decrease in length of stay (LOS)
  • 30-50% reduction in excess days
  • As many as 20 beds of increased capacity per facility

These results generated over 10x ROI for health systems. In addition, these efficiencies not only reduce the strain on frontline care teams but also increase inpatient bed capacity amidst staffing shortages.

Cumulatively, health systems using Qventus software eliminated more than 200 years of excess days -- days patients stay in the hospital longer than clinically necessary.

Evidence-based Thought Leadership

To help health systems pursuing length of stay reduction strategies through more effective discharge planning, Qventus undertook research that uncovers best practices and quantifies the true effectiveness of these initiatives.

Based on analysis of over 75,000 patient visits from health systems across the country, this groundbreaking research identifies best practices for reducing excess days by up to 91% through early discharge planning and proactive barrier management.

Industry Awards & Recognition

Qventus received accolades from Fast Company's 2021 World Changing Ideas Awards for the team's work partnering closely with customers to rapidly develop Covid-19 Incident Command Solutions that solve urgent operational and financial challenges caused by the pandemic.

The company was also named one of the Top 100 Healthcare Technology Companies of 2021 by The Healthcare Technology Report alongside other prominent companies modernizing healthcare.

In addition, Chilmark Research named Qventus as the Flagship Vendor – Hospital Operations and Change Management in their 2021 Augmented Intelligence for Health Care Operations Market Trends Report.

About Qventus

Qventus is the leading provider of AI-based software for care operations automation. Integrating with EHRs, the Qventus platform uses AI, machine learning, and behavioral science to power best-practice solutions for inpatient, perioperative, emergency department, and command center settings. As a partner to leading health systems and hospitals across the country, including Boston Medical Center, HonorHealth, M Health Fairview, Mercy, and Saint Luke's Health System, Qventus delivers proven outcomes, including 30-50% fewer excess days, 1 full day reduction in length of stay, and over 2 new cases added per operating room per month. For more, visit www.qventus.com.

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SOURCE Qventus Inc.

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