Hindsait: Transforming the Healthcare Industry with Innovative Artificial Intelligence Platform
Hindsait is a leading AI technology company offering better healthcare by enabling improved quality of care and prevention of unnecessary services, errors, and fraud. Hindsait was founded with the core mission to eliminate unnecessary healthcare and to address inefficiencies and wastages that costs the US healthcare system a whopping US$1.2 trillion each year.
The company’s CEO, Pinaki Dasgupta, believes that utilization is one of the key drivers to high spending in healthcare. He says that to control unnecessary utilization; health insurance companies routinely conduct pre-service as well as post-service reviews and audits. However, this imposes additional administrative burdens on health insurance companies to conduct manual reviews and audits, which are often costly to administer and error-prone.
Pinaki says that Hindsait’s artificial intelligence (AI) platform automates and augments for such pre- and post-service audits and reviews. The typical pre-service reviews include prior-authorizations of imaging or cardiac studies, or pharmacy benefits management (PBM) reviews. In contrast, post-service audits may consist of payment integrity audits, risk adjustment investigation, clinical validations, DRG reviews, and much more.
“Such automation for payers can save the health plans tens of millions of dollars of unnecessary payment or overpayments while reducing error rates and the administrative cost of manual reviews,” he adds. With Hindsait’s AI technology, payers can now perform more consistent, evidence-based reviews at one-tenth of the cost at under one-third of the time!
Prior to founding Hindsait, Pinaki was most recently at Accenture, where he leveraged his more than 20 years of experience in engineering, data-driven insights, and business leadership to drive major aviation projects. Pinaki’s entrepreneurial journey started after several first-hand experiences with problems in the healthcare system, he knew he found his opportunity – and Hindsait was born. Pinaki is known for his ability to grasp the big picture and connecting the dots, that he leverages with his deep expertise in Business Development and Data-driven decision-making. Pinaki is an Engineer, who holds a master’s degree in business administration.
Infusing AI Applications to Build Effective Solutions
The Hindsait team has invested years of effort in building its state-of-the-art AI platform that is founded on three key pillars. Hindsait’s Robotic Process Automation (RPA) tool extracts information from a faxed form or image file, with the ability to detect various types of checkmarks, signatures, dates, presence of hand-written text, along with extracting all the textual information. Hindsait’s award-winning Clinical Natural Language Processing (CNLP) technology extracts contextual clinical information from unstructured free texts that are trapped in many types of medical records, including progress notes, visit reports, encounter reports, inpatient records, lab reports, imaging reports, medications, and many others. Combining RPA and CNLP technologies with machine intelligence enables Hindsait to create high performing business values to drive efficient clinical cost management for Payers.
Winning the Industry with Impressive Services
In recognition of Hindsait’s superior technology, two of the big six health insurance companies and one of the big three benefit management companies in the USA, among several other large providers, have adopted its AI technology platform. In addition to that, the company has received multiple awards and accolades, including Frost and Sullivan’s Visionary Innovation Leadership Award for Global Artificial Intelligence Systems for Healthcare, Gartner’s ‘Cool Vendor in AI in Healthcare,’ among many others.
COVID as the Next New Frontier
The current global pandemic presents both unique challenges and opportunities for technology companies focusing exclusively on healthcare including Hindsait. In the short run, as the focus has shifted from traditional healthcare delivery to COVID-focused care delivery, the entire value chain of the healthcare industry has been facing the varied consequences and significant financial impacts of COVID. According to Pinaki, such a negative impact is transient in nature.
He thinks that the pandemic has successfully demonstrated the true power of real-world data that drives key governmental decisions and shapes healthcare policies and how it impacts our daily life, pretty much in real-time. It has proven that data-driven decision-making is of key importance for delivering high-quality healthcare.
As a result, Hindsait is witnessing faster decision cycles and the adoption of innovative technologies such as AI in healthcare. Pinaki is confident that such trends will continue and eventually create a cascading effect to larger and broader adoption of AI/CNLP technology reshaping the healthcare industry, most importantly, to deliver better outcomes and at a lower cost.
Establishing an Influential and Positive Work Culture
Culturally, the company believes in a participatory leadership style in a non-hierarchical organizational setting, where each individual in the team is valued for his/her contribution and the subject-matter expertise he/she brings to the table. Hindsait adopts an ‘all-hands-on-deck’ approach to execute on its mission. On a typical day, its team of Data Scientists works closely with the clinical team consisting of Doctors and Nurses, along with the industry experts and business leaders to deliver a high-quality product – one that enables efficient and consistent clinical decision-making, based on established clinical guidelines and protocols.
The company offers flexible working hours to the team members and choice to work either from home and or from a fixed workplace based on their personal preference and work-life balance. Pinaki mentions, “At Hindsait, there are no fixed work hours, no upper limits on the number of holidays one can avail, no sign-up sheets to start or end to the workday.” The company’s usage of collaborative technologies, including cloud-based tools to communicate, share, and learn and execute in real-time, has been an integral part of it, right from the day Hindsait began its journey in June 2013.
Paving way to An Optimistic Future
Hindsait will be launching its CNLP API, which can be accessed via its website: www.hindsait.com. The company plans to open up the power of its AI technology for any healthcare organization to try for free and explore the potential opportunities that the CNLP technology can unleash in creating multiple high performing use-cases.
The versatile CNLP API allows users to securely upload medical records to their account and extract clinical data. These records can be viewed as annotated, highlighted images in Hindsait’s audit platform, or the structured clinical data can be downloaded directly. Users will also have the option to select several different data extractions, including patient demographics, clinical concepts, medications, clinical quantities, ICD-9 and ICD-10 codes, SNOMED codes, and other data such as screening and imaging/lab report tagging.