AI Healthcare Innovations: How They're Shaping the Future for Patients and Investors
USA News Group Commentary
Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, Dec. 12, 2024 /CNW/ -- USA News Group News Commentary – The potential for artificial intelligence (AI) in healthcare is exploding, with economists now predicting AI could narrow deficits in the USA by improving health care. The US Food and Drug Administration (FDA) is already shuffling its attention towards medical devices equipped with Generative AI (GenAI), having recently put out a 30-page document to committee members about the topic. It's already clear that GenAI is emerging as a pivotal force in healthcare by processing and synthesizing information at unprecedented speeds. With more AI-powered solutions on the way, the rate of innovations in drug development, diagnosis, and monitoring treatment is rapidly accelerating, with recent developments coming from such innovators as Avant Technologies, Inc. (OTCQB: AVAI), Roche Holding AG (OTCQX: RHHBY, RHHVF), Teladoc Health, Inc. (NYSE: TDOC), Butterfly Network, Inc. (NYSE: BFLY), WELL Health Technologies Corp. (TSX: WELL), and HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF).
The article continued: One aspect of the AI in healthcare revolution that's making a lot of noise is the $9.58 billion AI Training Datasets industry. According to analysts at MarketsandMarkets Research, the global AI in Precision Medicine Market is set to hit US$3.92 billion by 2030, growing at an explosive 30.7% CAGR. MarketsandMarkets also projects the Healthcare IT Market to hit US$834.35 billion by 2029, with a 14.7% CAGR, citing advancements in AI enhancing interoperability along the way.
Avant Technologies' Partner, Ainnova, Signs Pilot Program with Roche to Combat Diabetic Retinopathy
Avant Technologies, Inc. (OTCQB: AVAI), an emerging technology company developing solutions in artificial intelligence in healthcare, today announced it has entered into a strategic alliance with global biotech giant Roche Holding AG (OTCQX: RHHBY, RHHVF), and leading pre-paid health plan provider Salud 360, to begin a pilot program to combat diabetic retinopathy using cutting-edge technology from Avant's partner Ainnova Tech, a leading healthcare technology company focused on revolutionizing early disease detection using AI.
Roche, Ainnova, and Salud 360 signed a strategic alliance to improve access to vision screening in patients with uncontrolled diabetes with the hope of decreasing the risks of diabetic retinopathy using Ainnova's advanced technology and a patient-centered approach.
The pilot program will initially be implemented in Costa Rica where diabetes affects about 10.4% of the adult population. If successful, Avant and Ainnova hope to implement a similar program in the United States, Canada, and Europe through Ai-nova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova.
"At Roche, we are committed to timely diagnosis of diseases to improve clinical outcomes and thus contribute to the sustainability of the healthcare system," said, Alvaro Soto, General Manager of Roche Central America, Caribbean, and Venezuela. "By leveraging technology, we seek to improve lives, optimize diagnoses, and ensure that every patient has access to timely and effective treatment. With this model, we not only seek to address the problem of diabetic retinopathy, but also to establish a replicable path for other diseases that require innovative solutions."
The pilot program will use non-mydriatic fundus cameras and artificial intelligence—developed by Ainnova Tech—to automatically analyze retinal images and identify microscopic changes in the retina. Such changes would be an early indicator of diabetic retinopathy without the need for invasive tests.
By implementing the pilot program in Costa Rica, this strategic alliance can take advantage of the country's robust healthcare system and its focus on technological innovation. Patients who are members of Salud 360 will be the first to benefit from screenings at affiliated clinics. Those at risk will be referred immediately to ophthalmology specialists, guaranteeing comprehensive and timely care.
The results of this pilot program will be the basis for developing the model beyond borders to benefit communities facing similar challenges in accessing medical care.
"We are proud to be able to put our technology at the service of a project that has the potential to prove itself as a massive impact model in early detection, and which we believe is replicable globally," said Vinicio Vargas, CEO of Ainnova Tech and member of AAC's Board of Directors. "Today, we are starting with diabetic retinopathy, but the vision is that we can eventually multiply this same effort for other critical diseases that require innovative solutions."
According to data from the Costa Rican Institute for Research and Teaching in Nutrition and Health (Inciensa), uncontrolled diabetes is the leading cause of preventable blindness in the country's adult population. To make matters worse, between 20% and 40% of diabetic patients develop diabetic retinopathy, a silent but devastating condition if not detected and treated in time.
According to the World Health Organization, 80% of cases of blindness due to diabetes are preventable with early and effective interventions. Therefore, early detection is crucial and technological innovation can help make a huge difference.
CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
Other recent industry developments and happenings in the market include:
Teladoc Health, Inc. (NYSE: TDOC), a global leader in virtual care, recently announced the launch of new AI-enabled capabilities to enhance its Virtual Sitter solution to improve patient safety, address workforce challenges, and enhance care delivery for hospitals and health systems.
"For more than a decade, we've pioneered new ways for technology to support human interaction in patient care, helping hospitals and health systems transform care delivery and meet their most pressing challenges," said Andy Puterbaugh, President of Hospitals and Health Systems for Teladoc Health. "New applications of AI are now accelerating our impact, supporting continuous improvement of our fully integrated suite of connected care solutions, including Virtual Sitter."
Teladoc Health's Virtual Sitter solution helps address this critical issue. Leveraging AI, a single remote staff member can now monitor up to 25% more patients, helping to increase the capacity of healthcare inpatient teams. This latest innovation builds on Teladoc Health's broader suite of inpatient connected care solutions, which support virtual nursing, physician consults, interpretive services, and other hybrid care services that help reduce the administrative burden on bedside staff and improve both clinician and patient satisfaction.
Butterfly Network, Inc. (NYSE: BFLY), a digital health company transforming care through the power of portable, semiconductor-based ultrasound technology and intuitive software, recently announced that Butterfly iQ3™, its third-generation handheld ultrasound device, was the recipient of the Best Medical Technology Award at the 2024 Prix Galien USA Awards by the Galien Foundation.
"Winning the Prix Galien Award for Best Medical Technology is an extraordinary testament to the hard work and dedication of our team that brought iQ3 to market this year," said Joseph DeVivo, President, CEO, and Board Chairman of Butterfly Network. "Our Ultrasound-on-Chip™ technology harnesses the exponential advancements of Moore's Law, allowing us to deliver increasingly powerful and cost-effective imaging tools. By leveraging this innovation, we are democratizing ultrasound, enabling practitioners everywhere to make faster, more accurate decisions, and ultimately transforming patient care on a global scale."
Butterfly's recognition underscores its dedication to making ultrasound imaging more affordable and scalable through its innovative Ultrasound-on-Chip™ technology. The new Butterfly iQ3, powered by the advanced P4.3 semiconductor, marks a digital leap with enhanced AI features and portable, premium-quality handheld imaging.
WELL Health Technologies Corp. (TSX: WELL), a digital health company focused on tech-enabling healthcare providers, and HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF), a healthcare technology company focused on AI and data science for preventative care, recently jointly announced the expansion of their multi-year strategic alliance agreement that allows WELL and HEALWELL to launch and manage clinical trial sites at WELL clinic locations across Canada.
"Launching and managing clinical trial sites at WELL's clinic locations across Canada is a powerful and transformational strategic initiative," said Dr. Michael Frankel, Chief Medical Officer of WELL. "This initiative will allow WELL and HEALWELL AI to capitalize on their combined strengths in healthcare infrastructure and AI technology, potentially transforming the landscape for clinical research."
Leveraging the country's largest network of primary and specialty care clinics, with over 180 clinics and thousands of healthcare practitioners, HEALWELL and WELL will collaborate to expand clinical trial access to more patients than ever before. By combining their strengths in healthcare infrastructure and AI technology, WELL and HEALWELL aim to transform the clinical research landscape.
"Patient identification and recruitment for clinical trials has become an increasingly complex challenge in the global healthcare and life science sectors," said Dr. Alexander Dobranowski, CEO of HEALWELL. "Success hinges not only on identifying patients but also on effectively recruiting them and managing their participation – steps that lead to improved outcomes for patients, practitioners and the healthcare system as a whole. Through our established late stage CRO, Canadian Phase Onward, HEALWELL has already made significant strides in accelerating the recruitment process, but the growing network of WELL clinics is an opportunity for us to execute our plans at scale. Ultimately, this service will be a benefit to doctors, healthcare practitioners and patients alike while reducing the cost of clinical trials and shortening their timelines."
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