Glassbeam, a machine data analytics provider, and Renovo Solutions have formed a partnership under which Renovo will become a reseller of Glassbeam’s analytics solutions for healthcare market.
Together, Glassbeam and Renovo will offer a joint solution for service and utilization analytics that are specific to ultrasound equipment.
Using Glassbeam’s artificial intelligence (AI)-powered machine, the data analytics platform, the solution will convert unplanned downtime into planned downtime by predicting failures and identifying utilization inefficiencies.
As a partner, Renovo will compliment its extensive healthcare domain knowledge with software analytics expertise from the data analytics firm to increase revenue generation by increasing machine uptime and usage, while reducing service costs.
Renovo Solutions CEO Sandy Morford said: “Today, healthcare providers’ clinical engineering, radiology and service teams lack the data-driven insights to make effective capex and opex decisions. As a result, their organizations fail to maximize machine uptime and reduce operating and maintenance costs as much as possible.
“Partnering with Glassbeam enables Renovo additional capabilities to better leverage the analytical data generated by ultrasound modalities. We look forward to optimizing healthcare providers’ return of investment and improving the patient experience through increased uptime.”
“Much of the present service models for maintaining expensive ultrasound equipment is claimed to be inefficient and reactive. Ultrasound machines generate large amounts of useful data which healthcare providers have failed to leverage.
“The machine log data is claimed to be disruptive, as it can increase uptime from the present 96-97% range to more than 99%, which translates to potentially millions of dollars in increased revenue per year,” Glassbeam said.
With the partnership in hand, Renovo will extract insights from the machine logs and Glassbeam’s AI platform will apply this data to build a comprehensive set of analytics dashboards that will align with healthcare providers’ unique needs.
Furthermore, the two companies plan to expand this relationship to include other imaging equipment, such as CT and MRI machines.
Glassbeam CEO Puneet Pandit said: “The combination of RENOVO’s ultrasound expertise and Glassbeam’s service and utilization analytics will enable healthcare providers to address the growing need to generate predictive and prescriptive insights.
“Glassbeam will provide these insights in one single pane of glass, starting with Ultrasound market and in the future assist RENOVO in expanding its focus to other imaging modalities.”