ROI and Business Impact of Glassbeam Clinsights for Healthcare Providers
Having met several C-suite executives in recent customer meetings, it has become increasingly clear to me the immense value and ROI we bring to the table for healthcare providers using our AI/ML analytics platform.
Taking a few cues from our recently published e-Book for Healthcare Provider market, here is an example of how this successful discussion goes:
> Glassbeam can predict CAT Scanner tube failures 7 days in advance so that you can be better prepared to handle this expensive issue, and convert unplanned downtimes into the planned maintenance window.
And, not just that, we can also…
> Increase the lifespan of a tube by at least 25% by catching anomalies in its key performance indicators (KPIs) such as number of Arcs (Spits), Aborts, Collimator, CAM Errors, etc.
Let’s dig into it now.
> Our current predictive model can predict close to 40% of your tube failures, 7 days in advance. So, if you have 100 Scanners, our experience states you must be budgeting about 30 tube replacements per year, out of which we will catch about 12 failures (40% of 30) with 100% confidence in our prediction. This implies we will miss catching 60% of your failures. However, 40% catch rate is better than ZERO.If a tube replacement can take down the CT Scanner for a couple of days, as reactive maintenance, then we are giving you that time, about 20 hours, back into your precious patient care business. Everyone is happier.
> By tracking about 100+ KPIs across GE and Siemens CT Scanners, we will alert you proactively when anomalies happen on arcs, aborts, CAM motor errors, collimator errors, and other related indicators. All these advance notifications will alert you that something is wrong with the CT Scanner. Many times, fixing these smaller issues is a lot less expensive on parts cost and downtime. Longer-term, if these alerts are not caught proactively (and that is how the industry is functioning today), tube life span goes down. A typical tube is replaced within 24 months on an active Scanner. With Glassbeam, we can help increase this tube life by 25% at least. So, if you are spending money on 30 tubes each year (in a fleet of 100 Scanners), we will help you avoid spending at least 7 replacements per year. That could be $700K or more per year ($100K per tube cost on average) in savings (not to mention labor and downtime costs).
As a summary, all of the above translates into ~$1.2M per year business impact as follows (for a site with 100 CTs):
> Stopping a revenue leakage to the tune of $480,000 per year
(12 tube failures x 20 hours of downtime x $2K per hour of patient exam revenues)
> Avoiding tube replacement costs to the tune of $700,000 per year
(7 tube replacements avoided at $100K cost per tube, not to mention labor and downtime costs)
Stay tuned for a more detailed blog that will list specific case studies where Glassbeam recently caught anomalies on GE CT Scanner machines to send proactive alerts, saving the healthcare provider thousands of dollars on parts and stopped revenue leakage by shifting unplanned downtime to planned maintenance windows.
Meanwhile, as the Use Case blog is getting ready for publishing, here’s a reading set, I recommend to get started on Clinsights:
As always, do reach out to me at [email protected] if there any questions you have on the ROI insights I’ve shared today.
Transform Your Healthcare Operations
See how to gain deeper, clearer insight from your machine data to elevate business intelligence and to improve your operational uptime, utilization, and efficiency.