PALM BEACH, Fla., Jan. 16, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The healthcare industry is rapidly integrating artificial intelligence (AI)-powered solutions in various verticals to achieve higher operational & clinical outcomes, which is a key contributing factor to the growth of the global market. According to a report from Grand View Research said that the artificial intelligence in diagnostics market size is projected to grow at a compound annual growth rate (CAGR) of 24.60% through 2030 overburdened healthcare systems struggling with the rapidly rising global prevalence of chronic diseases are driving the demand for automated, innovative processes. Furthermore, the shortage of care providers is contributing to the growing demand for AI-powered systems. The report said: "The ongoing COVID-19 pandemic exposed the shortcomings of the existing healthcare system and accelerated the adoption of digital technologies, such as AI in diagnostics, to accurately analyze complex datasets, thereby, reducing the burden of administrative & operational tasks on clinicians. The emergence of startups and growing recognition in form of funding & investments boosted the market growth. Healthcare startups rapidly began adopting AI-powered systems and receive recognition in the form of favorable government support and funding from private investors & venture capitalists.” Active companies active in the markets include: Avant Technologies Inc. (OTCQB: AVAI), Tempus AI, Inc. (NASDAQ: TEM), Medtronic plc (NYSE: MDT), Teladoc Health (NYSE: TDOC), Talkspace (NASDAQ: TALK).
Grand View Research continued: "Advancements in healthcare IT infrastructure and regular technological developments in cloud storage, computer processing, and machine learning algorithms are supporting the integration of AI-powered systems in diagnostics to provide efficient & accurate diagnosis allowing care providers to devise timely & adequate treatment plans. Pathology and radiology services are witnessing a widespread adoption of AI-based algorithms. For example, AI-powered radiology solutions can collect multiple datasets from imaging modalities and accurately analyze them from the radiologist. Furthermore, several research studies on AI integration in pathology are being conducted and some of the studies are on chronic kidney disease & kidney function tests, and metastatic breast cancer detection. Key participants are focusing on innovating solutions to deliver an accurate and rapid diagnosis of chronic diseases… Key market players are focusing on their product development strategies to expand their portfolios. Furthermore, key participants are devising their collaborations and mergers & acquisition strategies to gain a competitive edge in the market and expand their business.”
Avant Technologies, Inc. (OTCQB: AVAI) and Ainnova Begin Implementing and Testing Advanced AI Algorithms for Early Detection of Additional Diseases - Avant Technologies, Inc. ("Avant” or the "Company”) and its partner, Ainnova Tech, Inc., (Ainnova), a leading healthcare technology company focused on revolutionizing early disease detection using artificial intelligence (AI), today announced that Ainnova has started the process of implementing the 4 advanced AI-driven algorithms the company acquired last month into its state-of-the-art Vision AI platform.
During the implementation, Ainnova will configure the APIs within its platform, update the functionalities, and then test the new groundbreaking algorithms on a demo population group. The demo group will offer valuable feedback ahead of the Vision AI platform being introduced in several commercial pilot programs in Latin America with strategic partners in primary healthcare services across key markets in the region, including with two major pharmaceutical companies in Costa Rica and in Mexico, and in partnership with several pharmacy chains equipped with labs on site throughout Mexico.
The 4 algorithms include early detection for cardiovascular risk, prediabetes and type 2 diabetes, fatty liver disease, and chronic kidney disease. Combined with Ainnova's existing retinal disease detection tools, these new algorithms will be used with Ainnova's Vision AI to detect the early markers of these diseases quickly and accurately by applying AI.
The 4 algorithms include early detection for cardiovascular risk, prediabetes and type 2 diabetes, fatty liver disease, and chronic kidney disease. Combined with Ainnova's existing retinal disease detection tools, these new algorithms will be used with Ainnova's Vision AI to detect the early markers of these diseases quickly and accurately by applying AI.
Ainnova's Chief Executive Officer, Vinicio Vargas, said, "Patients with chronic conditions face a variety of complications. The ability to screen these individuals in basic health services or during routine primary care check-ups, using fast, non-invasive tests powered by AI, is transformative. Such technology enables highly accurate and timely detection of potential risks or issues, which ensures that patients are referred efficiently to the appropriate specialist. This approach has the potential to significantly enhance patient outcomes and streamline healthcare processes.”
The acquisition of an exclusive license to use 4 advanced algorithms in the Americas from one of Asia's most respected and largest healthcare institutions, offers Ai-nova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova, a robust platform for primary care providers to streamline early risk screening and improving patient care throughout the Americas. AAC expects to build on Ainnova's regional expansion by securing clearance from the U.S. Food and Drug Administration in 2025 to then introduce these solutions in the U.S. market. CONTINUED… Read this and more news for Avant Technologies at: https://www.financialnewsmedia.com/news-avai/
In other healthcare/technology industry developments and happenings in the market recently include:
Medtronic plc (NYSE: MDT) recently announced that the Centers for Medicare & Medicaid Services (CMS) is opening a national coverage analysis (NCA) on renal denervation, a process that will allow the agency to review and develop a national Medicare coverage policy for renal denervation procedures for patients with hypertension. This national coverage analysis was initiated by CMS in response to Medtronic's request to support Medicare beneficiary access to the Symplicity™ Spyral renal denervation (RDN) system, used in the Symplicity blood pressure procedure.
"Hypertension is a global health epidemic that impacts a wide variety of patients," said Jason Weidman, senior vice president and president of the Coronary and Renal Denervation business within the Cardiovascular Portfolio at Medtronic. "As the leader in developing a minimally invasive treatment option for hypertension, Medtronic has been closely engaged with CMS to establish a national coverage pathway for Symplicity Spyral. We appreciate CMS' efforts in creating new pathways to expedite access to breakthrough technologies like Symplicity Spyral and look forward to our continued partnership in developing a national coverage policy."
Tempus AI, Inc. (NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, recently announced the national launch of the company's FDA-approved, NGS-based in vitro diagnostic device, xT CDx. Beginning today, xT CDx is now available for all ordering clinicians nationwide. xT CDx is an FDA-approved test that delivers comprehensive insights with one of the largest reported gene panels available.
xT CDx is a 648-gene next-generation sequencing test for solid tumor profiling, which includes microsatellite instability status and companion diagnostic claims for colorectal cancer patients. xT CDx leverages a normal-matched approach, which is a method of parallel DNA sequencing of a solid tumor and normal patient sample that can lead to more accurate identification of cancer-driving somatic variants. All orders for tumor + normal match tests - traditionally run on the company's signature xT assay - will now be run as xT CDx with no changes to the current ordering workflow.
Teladoc Health (NYSE: TDOC) recently announced a new collaboration with Amazon to expand access to Teladoc's industry-leading chronic condition programs. Customers of Amazon that are eligible for Teladoc Health's diabetes, hypertension, pre-diabetes and weight management programs can now seamlessly discover and enroll in these benefits directly through Amazon's Health Benefits Connector, previously known as Health Condition Programs.
Teladoc Health has more than 1 million active enrollees across its chronic condition programs, which leverage connected devices, data-driven personalization and expert coaching to support sustainable behavior change and improved cardiometabolic health.
"This partnership helps deliver on our strategy to bring greater value to our customers in our individual solutions and across our integrated offerings,” said Chuck Divita, Chief Executive Officer of Teladoc Health. "By enabling customers to discover and enroll in our programs on Amazon, this effort will improve access to needed care and help people manage their health in an easier and more convenient way.”
Talkspace (NASDAQ: TALK), the leading online therapy platform, recently announced the launch of Insights, a new feature that enhances therapeutic care by helping Talkspace providers efficiently prepare for sessions and guide client care between sessions. The feature was developed and refined in partnership with Talkspace clinicians.
Before each session, providers can use Insights to synthesize data from each client's care journey, a process that is typically manual - including changes in that client's symptom acuity from evidence-based psychological assessments and key details from the most recent session - to generate a concise pre-session primer tailored to the therapist's upcoming appointment. After the session, an update can be generated to reflect the discussion's key points, highlight therapeutic progress, and note follow-ups for future sessions.
"At Talkspace, our goal is to harness technology to improve both the provider and client experience,” said Dr. Nikole Benders-Hadi, M.D., Chief Medical Officer at Talkspace. "The AI Insights feature will not only streamline session prep but also enrich the therapeutic process by pulling multiple data points that help our providers focus more so on their clients' care and clinical outcomes.”
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