CODE_n CONTEST finalist Hindsait has built an AI platform, which can extract clinical information from patient charts, enables machine learning from established guidelines and rules, and facilitates predictive scoring to enable consistent clinical decision-making. Hindsait has revolutionized the Prior Authorization process. We’ve talked to CEO Pinaki Dasgupta, who has told us more about the uniqueness of his innovation, the HealthTech sector and the vision for his startup.
What is Hindsait all about? How did you come up with the idea?
Pinaki: Hindsait is a leading Artificial Intelligence platform for better healthcare. Hindsait’s SaaS platform applies artificial intelligence to large healthcare datasets, helping payors and providers improve patient health at a much lower cost.
The word Hindsait was coined as a portmanteau of Hindsight and AI. As the name suggests, the simple idea behind Hindsait is to garner machine-enabled insights from historical clinical records that drives consistent decision-making eliminating human errors and biases.
“Digital Disruption“ – that’s the motto of this year’s CODE_n CONTEST. What makes your solution innovative, what makes it disruptive?
Pinaki: Unlike traditional business intelligence or predictive analytics companies, Hindsait’s uniqueness lies in its ability to string together an array of cognitive computing/AI technologies that has proven to prevent unnecessary health services, while demonstrating 5X+ Return on Investment (ROI).
Hindsait’s award winning AI SaaS platform’s Natural Language Processing (NLP) extracts context-sensitive clinical concepts from EMR, clinician’s notes- those are unstructured free texts. Its Machine Learning and Predictive Analytics technology enables learning from established guidelines, clinical necessity criteria, protocols and business rules that enables clinicians to make error-free, consistent clinical decisions. The SaaS platform is hosted on a secured HIPAA complaint Google Cloud Platform.
You’re one of the 13 finalists in the HealthTech contest cluster. Which challenges do you think young companies have to face in this sector? How do you handle these challenges?
Pinaki: In healthcare industry, understanding the need and urgency of data security is of paramount importance as we are dealing with personal health information (PHI). Any data breach could have catastrophic implications for the patients, their families and the community in general. This aspect of data security could pose a challenge or entry barrier for startups as well as an opportunity.
Hence it is important that the leadership team in startups fully understands the implications of the established regulations and guidelines and architects IT systems in a way that minimizes risks and vulnerabilities. In addition from day 1, they need to implement secured policies, escalation mechanism, train all their resources and continue to run periodic security audit and reviews.
At Hindsait we take security as #1 priority in everything we do and have built a culture, a mindset that puts security first, above all else. This ‘Security first’ mindset enables us to architect solutions, create access points, implement policies that gives our clients the confidence they need to share their PHI with us.
AI is a big topic in many markets. Do you think healthcare could be one of the industries early adopting AI technologies on a broader level?
Pinaki: We believe AI technology has the broadest appeals and the greatest needs in the healthcare industry. This is an industry where human errors, biases and judgment calls could have fatal impact on our personal lives.
AI technology enables prevention of such human errors and biases. It provides evidence based decision support to doctors, clinicians, and administrators to reach the right decisions at the right time.
As the technology matures, AI will enable doctors to reach precise diagnoses, which will enable personalized treatment plans with precision medicines based on multitude of input data that will be collected from the patients in real time. The connected AI technology will enable prevention of adverse events much before it could occur. The possibilities are seemingly endless!
Hindsait is excited to be in the forefront of this journey to the future of AI.
Thanks so much for the interview, Pinaki, and all the best to you and your team!