Partnership Led to the Launch of a Healthcare Innovation Studio
A collaboration between Ardent Health and SwitchPoint Ventures aimed to launch a healthcare innovation studio through joined expertise.
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By - Built upon high levels of experience in developing artificial intelligence (AI) solutions, Ardent Health and SwitchPoint have sustained a successful two-year collaboration to create a healthcare innovation studio that aimed to transform healthcare delivery.
Based in Nashville, SwitchPoint Ventures is an AI-focused studio that works alongside business leaders to promote technological innovation. Ardent Health Services dedicates investments to people, technology, and communities, operating through 30 hospitals and nearly 200 sites of care in six states, along with over 24,000 employees and more than 1,200 providers.
Previously, the two companies engaged in a two-year collaboration that focused on developing AI solutions through the combination of Ardent resources and clinical footprint, along with the AI expertise of SwitchPoint Ventures. Previous efforts of Ardent and SwitchPoint have led to the development of Winnow, an AI solution for clinician recruitment, and Polaris, a solution that predicted patient volume.
The healthcare innovation studio, however, focused on the development of data-driven solutions, ultimately aiming to launch them as independent ventures. Through 30 Ardent Hospitals and 200 sites of care, it sought to develop data-driven solutions throughout the Ardent footprint.
“Ardent and SwitchPoint share a commitment to addressing the root problems that burden healthcare delivery,” said Ardent President and CEO Marty Bonick, in a press release. “Making healthcare work better demands more than status quo thinking. SwitchPoint’s team listens, breaks down assumptions, attacks the salient issues, and iterates until there’s a breakthrough. Together, I’m confident we will bring big ideas and bold solutions to life in the areas that matter most to patients and caregivers.”
Those affiliated with SwitchPoint also expressed excitement about the development of this solution.
“One of the reasons why innovation is so difficult is that people talk about the need for change, but won’t take the steps to make the change,” said Ray Guzman, CEO of SwitchPoint Ventures. “It has been a breath of fresh air to work with Marty and his team. Their growth mindsets, respect for the creative process, and eagerness to follow through makes for an ideal environment to introduce disruptive solutions. Like us, they are serious about transforming the healthcare industry, and I’m excited for the future we are building together.”
In November 2022, Temple University Health System and Aidoc similarly partnered to use AI to lessen lengths of stay and costs of care.
The collaboration specifically entailedTemple Heath adding the Aidoc AI Care Platform to its set of resources, specifically for use in its cardiovascular, neurosciences, and radiology departments. This effort aimed to lessen the length of stay in Temple Health hospitals, ideally lowering care costs.
And in January, UC Davis Health creating an AI tool to lessen documentation burden and clinician burnout. The tool specifically aimed to allow healthcare organizations to leverage patient and clinician experiences along with billing information to assist in automating documentation while enhancing billing accuracy.
