In Pilot Study, ElectrifAi Leadership in Machine Learning Reduces Hospital Operating Costs

Hospitals are facing mounting costs. Every year, hospitals in the United States spend more than $200 billion on administrative expenses. The costs for essential supplies and salaries for hospital staff are rising. The need for cost savings is clear.

To that end, an innovative partnership between two leading technology companies was formed. One company, ElectrifAi is a leader in machine learning solutions. The other, Vizzia Technologies, provides cost-saving solutions to hospitals to improve their operational efficiency. A recent pilot study had excellent results, with some inventory metrics improving by more than 50%.

Pilot Study Uses Machine Learning Technology to Increase Hospital Operational Efficiency

Machine learning works by finding and interpreting patterns in large sets of data. It has a wide range of cutting-edge applications and is outstanding in finding ways for organizations to cut costs by becoming more efficient. When used to improve inventory management, machine learning predicts when particular items will be needed and in what quantity.

In the recent pilot study, machine learning was applied to reduce the costs involved in running a hospital and to enhance patient care. The expertise of the two companies meshed perfectly. With ElectrifAi leadership in machine learning and Vizzia Technologies’ long experience in helping hospitals operate more efficiently, the partnership proved fruitful.

The pilot study took place in a California acute care hospital with 500 beds. This hospital is a state-of-the-art trauma center, one of the busiest in the state. The results were outstanding. Key performance indicators showed improvement in inventory management, including:

• Key out-of-stock metrics improved by up to 52%
• Overstock rates fell by up to 20%

The study met the collaborators’ goals of streamlining hospital processes and reducing costs. It also met their goal of analyzing the usage of critical medical equipment in order to enhance patient care.

ElectrifAi leadership in machine learning and artificial intelligence has propelled it to the forefront of machine learning solutions in the United States and worldwide. The company provides pre-built machine learning solutions to medium and large businesses. This brings the benefits of machine learning to organizations without the organizations having to take on the cost of implementing the technology themselves and having to hire people with the necessary expertise. By using pre-built solutions, ElectrifAI’s clients save money, while seeing results in less than two months.

Vizzia Technologies leadership in providing data analytics and real-time location systems to some of the largest hospitals and healthcare organizations in the U.S. is widely recognized. The company has won awards for its software platform that improves operating efficiency by providing actionable real-time data.

When Vizzia Technologies and ElectrifAi leadership was combined, the effect was synergistic. ElectrifAi’s machine-language powered Inventory Optimization solution provided deep machine learning and artificial intelligence insights to Vizzia Tehcnologies’ InVIEW software platform.

The ElectricifAi Inventory Optimization solution streamlines inventory management by eliminating backlogs, preventing overstocking and understocking, and making actionable predictions, including buying patterns, customer behavior, and overall market behavior.

Vizzia Technologies has helped healthcare systems save millions of dollars through asset tracking and management. Its partnership with ElectrifAi has enhanced its ability to provide clients with even greater efficiencies and improvements in patient care