Q1.Do you provide analytics support only to Healthcare Companies?
A1. The biggest conundrum in the healthcare sector is poor utilization rates even when waiting times for procedures and appointments is more than few months or even years in some cases. It is this very problem which inspires us at Circle of Life and using our collective experience and expertise of more than 50 years in machine learning, artificial intelligence and operations, we want to help deliver greater and better care to the ever burgeoning healthcare demand the world over.
While we have started by focusing on the healthcare sector and providing services to the provider and the payer, we believe that Data will be the biggest driver of productivity gains and human evolution in the near future and are poised to expand our portfolio to other sectors as well.
Q2. What are the typical terms and conditions of an engagement?
A2. While our flagship predictive analytics product is under development, we are currently working with some of the largest healthcare providers and insurance companies in developing and refining our algorithms and models on a consultative fixed scope engagement model.
Such model requires us to evaluate the veracity and variety of data available with the client, determining the objective function that they want resolved and then creating algorithmic solutions to help optimize operations. The engagements typically run for a period of 3-6 months with precise actionable items provided to the client at the end of the term.
Q3. How can the results of the engagement be updated over time?
A3. We expect our automated analytics product to be completely developed over the next 12-18 months at which time we endevaour to integrate with the database of our clients and provide real time analytical outputs for implementation using advanced machine learning and artificial intelligence.
Q4. We are a small sized hospital? Can we seek your assistance to optimize our operations?
A4. We believe that efficiencies can be driven in the healthcare sector only by wide based participation of various constituents of the healthcare economy. As long as your organization maintains a certain basic minimum database of clinical and non-clinical empirical observations/ patient encounters, we are confident of utilizing the power of that data and our rich experience in the sector to deliver meaningful results to your organization.
Q5. Is there a specific format in which you need the data?
A5. We have developed capabilities to work with any form of database and any format of output so produced by such database. This allows us the ability to work with any client irrespective of geography, legacy technology systems and size.
Q6. How do you ensure security of the data shared with you?
A6. We understand the sensitive nature of data especially the health data that we work with and are committed to maintaining the highest standards of data security in storage and retrieval. All data is stored in encrypted form within dedicated servers and there is a strict policy on non-availability of disaggregated patient level data to any member of the team at myCOL. All data is anonymized before being analysed.
Q7. How do I differentiate between myCOL and other vendors who claim to provide similar predictive analytical solutions?
A7. Through our partnerships we have worked on some of the largest healthcare databases in the world and this has allowed us to build our models using high volume and variety of data. Using advanced machine learning techniques, we have leveraged our deep access to build best in class proprietary algorithms that provide us with a distinct competitive advantage as compared to others who suffer from lack of access to such large databases.
Q8. How soon can I expect improvement in my operations upon implementation of the analytical insights?
A8. We provide actionable insights based on a deep-rooted analysis of your data that can be implemented on an immediate basis. It is expected that visible results can be observed within 6 months of implementation.