Hospital Care (The Derby Mill Series ep 12)
The Derby Mill Series
Intro
This chapter explores the transformative impact of artificial intelligence in hospital environments, focusing on its ability to analyze surgical data to improve outcomes. It features the Chicago-based company Artisite, which has successfully integrated AI solutions, resulting in reduced nursing overtime and enhanced patient satisfaction.
Hospitals in jurisdictions around the world face tight budgets and staff shortages. Artisight offers an AI-powered suite of software services designed to help hospitals do more with the limited resources they have available. Based in Chicago and led by a medical doctor who also has an MBA, Dr. Andrew Gostine, Artisight’s mission is to improve quality metrics and financial outcomes with the help of computer vision, IoT sensors and vital-sign monitoring.
For example, one hospital system that used Artisight’s technology, Northwestern Medicine, saw a 52% reduction in nursing overtime and a 76% reduction in nursing turnover alongside improved nursing and patient satisfaction scores. At the start of 2024, Artisight announced that it raised US$42 million in a funding round that was oversubscribed by 2.4x and included NVIDIA as an investor.
On the agenda in today’s discussion: What’s the potential for AI-enabled healthcare administration? How can AI be of assistance to the healthcare industry? What can be done to increase efficiency in the near term, and where does the technology go at the limit? The Derby Mill team talks to Artisight CEO and co-founder Dr. Andrew Gostine, and chief science officer and co-founder Tim Koby, to discuss the future of healthcare.
GUESTS AND HOSTS
Dr. Andrew Gostine, Co-Founder & Chief Executive Officer, ArtisightTim Koby, Co-Founder & Chief Science Officer, ArtisightAjay Agrawal, co-founder and partner, Intrepid Growth PartnersNiamh Gavin, senior advisor, Intrepid Growth Partners, Applied AI scientist, CEO, Emergent Platforms
LINKS
Derby Mill show websiteArtisight’s website, explainer videoLearn more about Artisight’s Series B funding roundBe sure to catch every episode of The Derby Mill Series by subscribing on the following platforms:YouTube // Spotify // Apple Podcasts
DISCUSSION POINTS
00:00 Introduction01:07 Meet the Artisight team02:00 Core value of Artisight03:44 Sensor suite: What data is collected05:42 Artisight’s top 3 AI predictions09:39 Why fall prevention matters most16:12 AI in hospital care—why now?24:05 Raising the ceiling in healthcare25:47 Improving models without moving data30:19 Smarter AI vs. smartest doctor?40:14 Are there limits to trusting AI?44:54 Numbers that prove AI trust51:01 Next big AI-driven interventions55:05 Rewards for in-hospital problem-solving59:57 AI vs. human default in hospital care01:09:35 Final remarks
NUGGETS
Nugget 1 - Using AI to Maximize Hospital Care
AI can now recognize procedures like IV insertions without staff saying a word, thanks to AI using voices as a timestamp and training computer vision with synthetic images.
Nugget 2 - "Why now?" How Real-World Problems Held AI Back Until Today
For years, AI has promised to transform healthcare. So why is it only working now? Emergent Platform CEO Niamh Gavin uses her healthcare expertise to describe the real-world hurdles that held earlier AI solutions back. Artisight CEO and co-founder, Dr. Andrew Gostine, explains the innovation that was needed to reach the quality of AI and get it to where it is today.
Nugget 3 - Stopping Sepsis Before It Starts
AI could predict sepsis up to 18 hours before it strikes—early enough that patients may never meet the clinical criteria at all. Artisight CEO and co-founder Dr. Andrew Gostine explains how predictive intelligence is transforming preventative care, and why fall prevention was just the beginning.
DISCLAIMER
The content of this podcast is for informational and educational purposes only and should not be construed as marketing, solicitation, or an offer to buy or sell any securities or investments. The opinions expressed in this video are those of the participants and do not necessarily reflect the views of Intrepid Growth Partners or its affiliates. Any discussion of specific companies, technologies, or industries is for illustrative purposes and does not constitute investment advice. Viewers are encouraged to consult with their own financial, legal, and tax advisors before making any investment decisions.
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit insights.intrepidgp.com
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