Why building diagnostic data strategy and harnessing AI are vital for labs’ commercial success

NEW YORK, Oct. 24, 2017 (GLOBE NEWSWIRE) — Jason Bhan, MD, Cofounder and CMO of healthcare AI company Prognos, and Philip Chen, MD, PhD, Chief Healthcare Informatics Officer at Sonic Healthcare, will discuss why AI should be welcome at labs during G2 Intelligence Lab Institute, from October 25-27 in Washington, D.C. Celebrating its 35th anniversary, G2 Intelligence Lab Institute is a leading event for lab professionals.

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Drs. Bhan and Chen will discuss the growing trend of diagnostic laboratories using healthcare AI to benefit physicians, patients, therapy developers, and health plans. The presentation will focus on the role AI and data strategy can play in labs’ commercial success and how it can lead to improvements in patient care and outcomes. Sonic Healthcare’s iMorpheus platform drives clinical decisions, while Prognos’ solutions use lab data to predict disease. Bhan and Chen’s presentation will take place from 10:30-11:15 a.m. on Friday, October 27.

“For labs, recognizing the value of our data and implementing an aggregated AI data strategy can have a beneficial impact on the business,” said Dr. Chen. “Importantly, when we make clinical data available to extract meaningful insights using AI, we do our share in helping to better understand disease patterns and improve patient outcomes.”

Dr. Chen leads Sonic Healthcare’s informatics initiatives and products, including the development of the iMorpheus clinical decision support, patient engagement, and care coordination software.

Lab data drives about 70% of medical decisions yet is conspicuously absent in decisions made around population health management or patient care. The combination of diagnostic information with advanced analytics and AI can be used to identify or predict events well before the claim or prescription data. This means that labs can make their data available to benefit various healthcare stakeholders by enabling better treatment decisions, earlier.

“In addition to benefiting financially from sharing their data, labs can get a better understanding of testing trends and patterns and their share of the market on a national and regional level in a confidential way,” said Dr. Bhan. “Knowing how you stack up against competition is a valuable insight in business decision-making and we’ve found most labs do not currently have access to this type of intelligence.”

Dr. Bhan is a national expert in the applications of technology to healthcare and medicine, a topic on which he speaks regularly at institutions and conferences. Prior to cofounding Prognos, Dr. Bhan worked with Clinovations and managed several large hospital system EHR implementations, outcomes measurements and data analysis.

To learn more about Prognos, visit https://prognoshealth.com.

About Prognos

Prognos is a healthcare AI company focused on eradicating disease by driving decisions earlier in healthcare in collaboration with payers, Life Sciences and diagnostics companies. The Prognos Registry is the largest source of clinical diagnostics information in over 30 disease areas, with over 13B medical records for 175M patients. Prognos has 500 extensive proprietary and learning clinical algorithms to enable earlier patient identification for enhanced treatment decision-making, risk management and quality improvement. The company is supported by a $23M investment from Safeguard Scientifics, Inc. (NYSE:SFE) and Merck Global Health Innovation Fund (GHIF). For more information, visit www.prognos.wpengine.com.

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