Global AI in healthcare market expected to rise to $164B by 2030
The market size for 2023 was $10.31 billion
Read more...Spatially Health is a cloud-based, health equity platform that uses spatial analytics, location intelligence, and machine learning to map the relationships between the social determinants of health (SDOH) and an individual’s environment. Rosarium Health, meanwhile, tackles accessibility challenges by connecting individuals with the resources they need to age safely and independently in their own homes.
Now the two companies have announced they are combining forces in a partnership that will allow Rosarium Health to use Spatially Health's Equity Equalizer platform, a tool used identify prevalent health barriers, evaluate the risk, and understand the associated costs of their patient population, to gain insights into accessible home modifications for it clients.
Spatially's Equity Equalizer platform, allows healthcare practices can integrate SDOH into their workflows, allowing them to create personalized care plans that address the root causes of patients' health issues. Additionally, the platform offers a closed-loop referral system, helping clients assess the clinical impact of interventions.
In addition, the company also empowers provider teams and care managers with patient insights that consider medical data alongside health barriers, enabling personalized and actionable interventions to improve patient outcomes.
The Houston-based Rosarium Health links patients, healthcare professionals, and home remodeling companies through its integrated service network allowing for in-home modifications that address health-related issues and prevent falls.
"One of the main benefits of Rosarium Health is its ability to find alternative funding sources, such as grants and VA benefits. This helps ACOs and other healthcare organizations reduce ED utilization, readmissions, and unplanned hospital admissions caused by falls without having to spend from their own pockets," Spatially Health CEO and co-founder Hillit Meidar-Alfi told VatorNews.
Rosarium will use the Equity Equalizer platform to provide personalized care solutions for ACOs, care providers and their patients to prevent in-home falls, reduce avoidable ER visits, and decrease hospital readmission rates. Through Spatially's closed-loop referral system, Rosarium will also be able to assess the clinical impact of modifying the home environment and enhance the quality of life for patients.
"This partnership is an exciting opportunity to utilize data-driven insights and address accessibility as a crucial social determinant of health. With 1 in 6 households currently led by an individual over 65 and mobility declining with age, tailored solutions for improved care of aging populations are vital to make progress towards a more equitable healthcare landscape," said Meidar-Alfi.
"We are confident that our collaboration with Rosarium Health can lead to long-lasting improvements in accessible home modification approaches, ultimately promoting better health outcomes for aging populations."
With this new partnership, Spatially currently has seven organizations utilizing the platform with a base of 330,000 patients, out of which it currently serves 145,000. Organizations already using the Equity EqualizerTM platform to address SDOH include VBCare Network, Palm Beach ACO, Asaar Medical, Shore Quality Partners, and ilumed.
The company is dedicated to providing care providers and organizations with the necessary tools to optimize their resources, improve patient outcomes, and promote health equity, and it says that, by considering SDOH, which are only one aspect of its customers' overall strategy, it is possible to reduce healthcare costs by up to 11% per patient.
"Spatially Health is a female-founded and led company with a vision of promoting equity and dignity in healthcare. By leveraging location intelligence and spatial analytics, we are helping risk-bearing organizations take an innovative approach to addressing social determinants of health (SDOH) and health equity," Meidar-Alfi said.
The market size for 2023 was $10.31 billion
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Read more...The company will use the funding to broaden the scope of its AI, including new administrative tasks
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