BurstIQ, a leader in data-driven healthcare solutions, announces its acquisition of Olive AI’s business intelligence solution, extending its offering portfolio and solidifying its commitment to assisting healthcare organizations in implementing data-driven solutions that comply with strict privacy and regulatory standards. The newly acquired platform, now known as LifeGraph Intelligence, will transform how organizations perceive and utilize their data.
BurstIQ Acquires Olive AI’s Solution
The acquisition of Olive AI’s business intelligence solution by BurstIQ signifies a strategic expansion of the company’s innovative product lineup. LifeGraph Intelligence will enhance BurstIQ’s offerings, making it easier for organizations to navigate the complexities of data-driven healthcare solutions while ensuring compliance with privacy and legal guidelines.
Revolutionizing Data with LifeGraph Intelligence
LifeGraph Intelligence employs state-of-the-art technologies such as Natural Language Processing, Machine Learning, and AI to extract meaningful insights from clinical notes and Electronic Medical Record (EMR) fields. By connecting health systems’ quality, efficiency, and cost data with evidence-based content including journal articles, guidelines, and recommendations, the platform enables organizations to identify opportunities to improve cost, time, and quality and act on them. This facilitates meaningful clinical discussions with physicians and allows organizations to reduce unwarranted clinical variation system-wide.
Impressive Results and Future Enhancements
Olive AI’s business intelligence solution has already delivered significant savings for numerous healthcare systems, ranging from $250 to $500 per surgical case. This translates to annual savings of $2.1M to $10.5M per hospital, and even $90M in savings over five years for one health system. BurstIQ plans to further develop LifeGraph Intelligence to address critical healthcare challenges such as total cost of care reduction, quality measure reporting, clinical trial matching, and supply chain management.
The BurstIQ acquisition represents a significant milestone in the company’s mission to offer comprehensive, secure, and actionable healthcare data solutions. Equipped with LifeGraph Intelligence, BurstIQ is well-positioned to continue assisting customers in unlocking their data’s full potential, providing reliable insights to reduce costs, improve efficiency, and enhance patient outcomes across health systems nationwide.