Hospital Management

Daily Newsletter

11 August 2023

Daily Newsletter

US-based healthcare technology company CalmWave has introduced the Transparent AI platform, which is designed to enhance critical decision-making in intensive care units (ICUs) by addressing alarm fatigue.

Working from a year's worth of hospital data, CalmWave's Transparent AI provides clinicians with a comprehensive overview of information to help them make informed choices about alarm management and patient care.

This AI-driven approach is claimed to reduce non-actionable alarms by up to 83% compared with manual adjustments.

CalmWave founder and CEO Ophir Ronen said: “Transparent AI helps build trust, avoid feature drift and biases, and ensure compliance with regulations and auditing of results.

“It provides explainability that empowers clinicians with the option to examine each recommendation prior to implementation.

“Observing the rationale behind each AI-generated step enhances the healthcare system's safety, accuracy, and accountability.”

CalmWave advisory board member Spencer Schaefer said: “It is critically important that clinicians participate in the development process and understand the recommendations provided by their tools.

“CalmWave’s technology delivers powerful and trustworthy analysis and recommendations built with the clinicians' needs in mind.

“Critically, the recommendations are clearly explainable and auditable, both vitally important in healthcare.”

CalmWave aims to improve the clinical work environment and patient outcomes by using objective data and AI to tackle alarm fatigue, a pervasive issue in modern healthcare.

In June this year, the company was named as the 2023 Digital Health Awards Winner for Connected Digital Health: Clinical Decision Support Tools.

Last year, it raised $4m in a seed funding round, which was led by Bonfire Ventures and included contributions from Tau Ventures, AI2 Incubator, Seachange Ventures, Hike Ventures and PagerDuty.

CalmWave said it planned to use the funds to recruit talent and advance new marketing initiatives, as well as create and launch new products.

Healthcare companies are hesitant to invest in the metaverse

The COVID-19 pandemic pushed the healthcare industry to rapid digitalization. Increased use of telehealth, telepresence systems, remote diagnostics, predictive AI, and wearable technology is changing how healthcare is delivered and improving patient outcomes. Emerging technologies such as AR and VR are becoming increasingly routine for professional training, surgical assistance, and treatment of psychological and neurological disorders. In the pharma and medical devices industries, AR, VR, and AI are rapidly accelerating drug discovery and manufacturing and generating supply chain efficiencies. New digital opportunities will look to build upon disruptive technologies. However, affordability is a limiting factor to widespread adoption. Per GlobalData estimates, the metaverse market is expected to grow at a CAGR of more than 33% between 2023 and 2030. Although metaverse technologies could reinvent healthcare approaches and bring new experiences to healthcare providers and patients, adoption is still at an early stage. There are currently few use cases in the healthcare industry. The metaverse needs to overcome major challenges for healthcare, including regulation and data privacy concerns. Evidence of proven use cases and participation by a critical mass of users are imperative to drive a shift in metaverse investment.