How Faros will bring artificial technology and software to healthcare

By Admin
As part of an exclusive license from Indiana University and Technology Corp, Faros Healthcare LLC will begin bringing patent-pending artificial technolo...

As part of an exclusive license from Indiana University and Technology Corp, Faros Healthcare LLC will begin bringing patent-pending artificial technology and software to healthcare providers.

Using machine learning, the software will endorse treatment plans for intricate health conditions and study patient outcomes to recommend intervention adjustments while considering the value of treatment costs.

RELATED TOPIC: Will the healthcare industry welcome artificial intelligence?

This type of data-driven technology will assist in informing clinicians and healthcare providers on patients’ response to treatment, while allowing time for adjustments.

The technology arrives at a moment when healthcare is transitioning from “fee-for-service” to “pay-for-performance approaches. Therefore, healthcare providers are being assigned to greater risk management.

RELATED TOPIC: How Australian researchers' 'bionic spine' will help paraplegics

Faros Healthcare is part of the not-for-profit organization Centerstone Research Institute, which offers community-based behavior healthcare for services in mental health, substance abuse, as well as intellectual and developmental disabilities.

President and co-founder Jim Stefansic said Faros is very excited to bring the new technology to healthcare providers.

“Faros provides a cloud-based platform that integrates with existing electronic health records and population health software to aid clinicians in achieving the best patient outcomes at an optimal cost,” said Stefansic. “Moving both sides of the cost-of-care value equation is essential in transforming our healthcare system, and we’re incredibly excited to bring this power to providers.”

RELATED TOPIC: How Australian hospitals are using video games to help patients recover

Faros co-founder Casey Bennett also served as a data architect, research fellow and data scientist at Centerstone, where his contributions to analytics and data warehousing were nationally recognized, including in IBM's Smarter Planet series.

"With this technology, we can provide clinicians and patients with not only static information about the best route to get from point A to point B, but constantly updated, real-time information about effectiveness or treatment changes during the journey," said Bennett. "It's an exciting time as data analytics and health care converge, and we look forward to transforming the way individuals receive care."

Source: IU Newsroom

Let's connect!   

Click here to read the latest edition of Healthcare Global magazine!

 

 

Share

Featured Articles

Why clinical AI is the future of healthcare

Harish Battu from General Catalyst explores the use of AI in healthcare, the challenges of its adoption & what it means for healthcare technology

AI can help healthcare workers deliver compassionate care

Dr. Lance Owens, Chief Medical Information Officer at the University of Michigan Health-West, explains how AI technology can support healthcare workers

Digital healthcare platform Balanced supports healthy ageing

10,000 people turn 65 in the USA each day. Digital healthcare platform Balanced wants to help them better manage healthy ageing, says CEO Katie Reed

TrueBinding’s antibody drugs fight Alzheimer’s Disease

Medical Devices & Pharma

Cardinal Health’s clinically integrated pharma supply chain

Medical Devices & Pharma

Healthcare Digital news roundup: digital healthcare & AI

Digital Healthcare