Machine Learning is the most popular component of many innovative software startups that are seeking to re-define their markets. This is also the case in healthcare, where large amounts of data are providing medical scientists, healthcare providers and drug makers with a treasure trove that can be used to derive insights. This could revolutionize the entire healthcare industry.
In this blog post, we pick our favourite five highly ranked healthcare companies in the VentureRadar database that are innovating using machine learning.
“You can have data without information, but you cannot have information without data.” Daniel Keys Moran
Enlitic is a startup company that uses deep learning and image analysis to make medical diagnostics faster, more accurate, and more accessible. The company’s mission is to provide the tools that allow physicians to fully utilize the vast stores of medical data collected today, regardless of what form they are in – medical images, doctors’ notes, structured lab tests, and so forth.
Ginger.io is based on state-of-the-art predictive models developed by MIT scientists and engineers. The main focus of Ginger.io is on people with depression and anxiety. It uses a combination of smartphone technology, data science, and clinical services to create a personalized, affordable way to deliver mental healthcare. With Ginger.io, people can analyze their mood over time, learn proven coping strategies developed by medical experts, and receive additional mental health support as needed.
Wellframe is a startup focused on building the next generation of infrastructure for healthcare delivery using artificial intelligence that delivers a mobile-enabled care management platform. Wellframe partners with leading health plans, providers and other healthcare stakeholders to extend the reach of care management services to support patients toward improved experience, care plan adherence and health outcomes.
MedAware provides innovative solutions that save lives, improve patient safety and significantly reduce healthcare costs, by identifying and preventing prescription errors in real-time. MedAware’s patent-pending technology uses big data analytics and machine learning algorithms to analyze large scale data of Electronic Medical Records (EMRs), to learn automatically how physicians treat patients in real life scenarios. MedAware offers a range of alerting and risk management decision support tools, targeted at improving patients’ safety and healthcare quality.
Lumiata is a provider of predictive health analytics and says it developed the world’s first medical graph. The medical graph organizes and analyzes hundreds of millions of valuable data points, allowing Lumiata to deliver real-time predictive analytics that help hospital networks and insurance carriers provide higher quality care to more patients in less time. It provides accurate insights and predictions related to symptoms, diagnoses, procedures and medications.
As machine learning techniques are applied to big data that has emerged in recent years, there is the potential for tremendous innovations in healthcare. We will be watching with interest how these five current leaders, and other startups, progress in the future.