We have identified four ways that complete workflow solutions are likely to make a market impact, namely: (1) simplifying the selection of AI algorithms; (2) streamlining the deployment and integration of AI algorithms; (3) using AI to solve a clinical need; and (4) more cost-effective, bundled pricing.
1. AI marketplaces were the first step in simplifying the selection of AI tools by providing radiologists with a curated offering from a variety of algorithm developers. However, these are mostly narrow point solutions for specific tasks, and radiologists are still required to make multiple algorithm selections. Complete workflow solutions, such as AI Suites, aim to simplify the selection process one step further by combining algorithms for a specific use case into a single offering. For example, combining multiple vessel analysis algorithms into a single solution for TAVR planning. This solutions-based approach reduces the hassle of evaluating, selecting and deploying multiple applications, and applies AI to a wider aspect of the radiologist’s workflow.
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2. Complete workflow solutions help to streamline the deployment and integration of AI, when compared with a multiple stand-alone AI algorithms approach. The results can be combined and presented in a single dashboard view, unifying the user’s experience and providing faster and more easily accessible results.
3. Complete workflow solutions combine multiple AI algorithms to solve existing problems and to enhance radiologist efficiency and performance. This way, AI becomes an ingredient in a solution, rather than positioned as a product in its own right.
4. Complete workflow solutions are expected to be more cost-effective for healthcare providers than the ad hoc purchase of individual algorithms.
TeraRecon plans to promote its AI Suites through the EnvoyAI marketplace and will also seek distribution partnerships with other marketplace or imaging IT vendors.
Alongside the acquisition announcement, TeraRecon also announced two first-of-their-kind patents for AI in medical imaging. The patents pertain to how healthcare providers will consume, integrate and adopt AI algorithms into their medical imaging workflows.
The first patent pertains to the radiologist’s ability to modify, accept or reject findings from AI algorithms and the ability of the AI platform to synthesize these. The second patent pertains to orchestration in the workflow, and how AI platforms will use new and old imaging data to enable AI results to be delivered in a single user experience.