Trooperstocks
10 months ago
$HCTI NEWS: Healthcare Triangle Empowers Healthcare Providers to Harness AI and LLMs for Groundbreaking Outcomes
Healthcare Triangle, Inc
Mon, Feb 26, 2024, 9:00 AM EST
In This Article: HCTI
Healthcare Triangle, Inc
Company’s latest initiative addresses growing demand for AI analytics to revolutionize patient care
PLEASANTON, Calif., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Healthcare Triangle Inc. (Nasdaq: HCTI) (“Healthcare Triangle,” HCTI” or the “Company”), a leader in transforming healthcare through technology, today unveiled an initiative aimed at enabling healthcare organizations to harness the full potential of their organic data through Artificial Intelligence (AI) and Large Language Models (LLMs).
This initiative is set against the backdrop of a rapidly expanding AI market, with Grand View Research estimating the AI in healthcare market size was $22.45 billion in 2020, and is expected to expand at a compounded annual growth rate (CAGR) of 36.4% from 2024 to 2030. Healthcare Triangle's latest offering is poised to empower healthcare providers with the tools to develop and deploy sophisticated machine learning (ML) models and LLMs, significantly enhancing patient outcomes through personalized and predictive healthcare solutions.
A Strategic Response to a Growing Demand:
The surge in the AI and analytics market highlights an escalating need for sophisticated data-driven solutions in healthcare. Healthcare Triangle's initiative strategically addresses this demand by providing a secure, scalable, and compliant digital platform. This platform facilitates the creation of AI and LLMs customized to meet the specific requirements of the healthcare industry. Through the utilization of organic data, healthcare providers gain access to valuable insights and patterns. These insights enable more precise diagnoses, efficient treatments, and ultimately, elevate the standard of patient care.
Key Features of the Initiative:
Secure and Compliant Data Utilization: Prioritizing data security and privacy, Healthcare Triangle ensures all AI and LLM development is in strict compliance with healthcare regulations, including HITRUST certification and HIPAA compliance. This commitment extends to a secure environment for data transfer, storage, and processing, alongside a comprehensive disaster recovery strategy.
Scalable Infrastructure Ready for the Future: Designed to meet the growing demands of healthcare organizations, the initiative's infrastructure is built for scalability, accommodating increasing data volumes and computational needs without compromising performance. A secure, cloud-hosted lab for LLM development highlights the initiative's readiness for the future, ensuring safety and efficiency in AI and analytics deployment.
Collaborative Ecosystem for Shared Innovation: Facilitating a culture of collaboration, the platform encourages the sharing of insights and methodologies within and between organizations, fostering a community focused on improving patient care and aligning with industry standards.
Customizable AI and LLM Development: Recognizing the diverse needs within healthcare, Healthcare Triangle offers customizable tools and solutions for developing AI and LLM models directly aligned with healthcare outcomes and objectives, ensuring flexibility and cost-effectiveness in platform service management.
A Vision for the Future of Healthcare:
"With the AI and analytics market projected to quadruple by 2024, our initiative represents a timely and necessary leap forward in empowering healthcare providers," stated Anand Kumar, Chief Revenue Officer of Healthcare Triangle. "We are not just advancing technology; we are setting a new standard for patient care, leveraging AI and LLMs to deliver personalized, predictive, and effective healthcare solutions."
As the AI and analytics market continues to grow, Healthcare Triangle's initiative marks a critical step towards realizing a future where healthcare is more personalized, outcomes are improved, and patients receive the care they need, when they need it, setting a new benchmark in healthcare innovation.
About Healthcare Triangle:
Healthcare Triangle, Inc., headquartered in Pleasanton, California, stands at the forefront of healthcare technology, specializing in AI and digital transformation. With a commitment to innovation, collaboration, and excellence, Healthcare Triangle is dedicated to reshaping healthcare delivery for the better. We collaborate with healthcare entities, including hospitals, health systems, payers, and pharma/life sciences organizations, leveraging breakthrough technology and extensive industry expertise to enhance health outcomes through optimized data utilization and cutting-edge information technologies. Holding HITRUST Certification for Cloud and Data Platform (CaDP) – featuring CloudEz™, DataEz™, and readabl.AI – our commitment to the highest standards in data protection and information security is unwavering. Healthcare Triangle serves as a beacon for the adoption of new technologies, data enlightenment, business agility, and swift response to evolving business needs and competitive challenges. Thriving in the highly regulated healthcare and life sciences sectors, we excel in digital transformation encompassing the cloud, security and compliance, identity management, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit www.healthcaretriangle.com
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as “projected,” “expect,” “possibility” and “anticipate.” The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Annual Report on Form 10-K filed with the SEC on March 28, 2023, subsequent filings and future reports filed with the SEC. All the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.
Contacts
Investors:
1-800-617-9550
ir@healthcaretriangle.com
Trooperstocks
10 months ago
News: Healthcare Triangle Announces Cost Reduction Initiatives to Achieve Profitability
Healthcare Triangle, Inc
Thu, Feb 15, 2024, 9:00 AM EST
In This Article: Healthcare Triangle, Inc
HCTI +12.57%
Strategic initiatives are expected to generate an estimated annualized savings of $3 million – $4 million in FY2024
PLEASANTON, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc (Nasdaq: HCTI) (“HCTI” or the "Company"), a leader in digital transformation solutions including managed services, cloud enablement, cybersecurity, data analytics, and AI data processing for the healthcare and life sciences industries, today announced that the Company is undertaking a series of strategic initiatives to reduce costs and drive efficiency in order to accelerate its path to profitability.
Thyagarajan Ramachandran, CFO of Healthcare Triangle, said, “We are announcing a comprehensive set of initiatives that are both necessary and decisive. This program will aim to right-size the Company’s cost structure, invest in high-potential growth opportunities, realign leadership, and position the business for long-term growth. Implementing these strategic initiatives will allow us to establish a clear path to consistent profitability and sustainable free cash flows.”
Company initiatives include:
Implementation of planned enhancements to the platform portfolio;
Aligning selling, general and administrative costs ("SG&A") by reducing third-party professional fees and infrastructure costs;
Streamline the leadership structure to create clearer lines of accountability;
Adjust go-to-market focus based on current market realities and how our customers want to leverage our platforms;
Further streamlining the organization to drive process-related efficiencies.
As a result of the initiatives announced today, the Company expects to:
Enhance gross margins by blending platform and managed services offerings
Cost optimization across business operations
About Healthcare Triangle
Healthcare Triangle, Inc. based in Pleasanton, California, reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare including hospitals and health systems, payers, and pharma/life sciences organizations in their effort to improve health outcomes through better utilization of the data and information technologies that they rely on. Healthcare Triangle achieves HITRUST Certification for Cloud and Data Platform (CaDP), marketed as CloudEz™, DataEz™ and readabl.AI. HITRUST Risk-based, 2-year (r2) Certified status demonstrates to our clients the highest standards for data protection and information security. Healthcare Triangle enables the adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, identity management, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit www.healthcaretriangle.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as “projected,” “expect,” “possibility” and “anticipate.” The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Annual Report on Form 10-K filed with the SEC on March 28, 2023, subsequent filings and future reports filed with the SEC. All the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.
Contacts
Investors:
1-800-617-9550
ir@healthcaretriangle.com
Trooperstocks
10 months ago
News: Healthcare Triangle Unveils New SaaS Solutions to Drive Digital Transformation and AI Integration in Healthcare
Healthcare Triangle, Inc
Wed, Feb 14, 2024, 7:00 AM
In This Article: HCTI +8.83%
Healthcare Triangle, Inc- Company positioned at forefront of $208 billion global AI in healthcare market by 2030
PLEASANTON, Calif., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Healthcare Triangle Inc. (Nasdaq: HCTI) (“Healthcare Triangle,” “HCTI” or the “Company”), a frontrunner in healthcare technology, announces a groundbreaking move with the launch of a new SaaS solutions designed to spearhead digital transformation and AI integration in the healthcare sector. This strategic announcement positions Healthcare Triangle at the forefront of driving innovation, aiming to revolutionize patient care, diagnostics, and treatment outcomes on a global scale.
The announcement also unveils the Company’s initiative to forge partnerships with prominent AI technology providers, healthcare, pharmaceutical, and research institutions. These collaborations aim to amplify the reach and expedite the realization of digital transformation goals in the global healthcare landscape.
The global healthcare sector is witnessing a rapid shift towards digital solutions, and Healthcare Triangle's SaaS offerings are poised to play a pivotal role in shaping this evolution. The Company’s SaaS solutions are tailored to enhance accessibility, efficiency, and patient-centricity in healthcare operations. The Company’s SaaS solutions positions it at the forefront of pioneering advancements, as Grand View Research projects global AI in healthcare market is expected to reach $208.2 billion by 2030, indicating the immense potential for AI integration in transforming the healthcare landscape.
Technology solutions from Healthcare Triangle not only streamline healthcare processes but also enable healthcare organizations to leverage the power of artificial intelligence for improved diagnostics, treatment planning, and overall patient care. Healthcare Triangle's initiative aligns with the broader industry trends, reflecting a commitment to bridging the digital divide and making advanced healthcare technologies accessible to diverse populations.
The SaaS solutions, built on next-generation cloud technology, offer healthcare providers a robust platform for seamless data integration, advanced analytics, and streamlined operations. With the power of AI, these solutions can predict trends, automate routine tasks, and provide actionable insights, thereby revolutionizing the way healthcare is delivered.
Key features of HCTI’s new SaaS solutions include:
Interoperability and Seamless Integration: The SaaS solutions are designed with interoperability in mind, allowing healthcare providers to seamlessly integrate and manage data from various sources, ensuring a single clear source of truth for all patient-related information.
AI-Powered Clinical Decision Support: Healthcare Triangle's AI-powered SaaS solutions offer real-time, data-driven insights for enhanced clinical decision-making.
Predictive Analytics: Leveraging AI, the solutions can predict patient outcomes and help healthcare providers make informed decisions.
Patient-centric Engagement: HCTI’s SaaS solutions prioritize patient engagement by offering user-friendly interfaces and personalized experiences.
Automation: Routine tasks can be automated, freeing up valuable time for healthcare professionals to focus on patient care.
Security and Compliance: Built on secure cloud technology, the solutions ensure that all patient data is protected and compliant with healthcare regulations.
“The future of healthcare lies in harnessing the transformative power of AI and digital technologies to create innovative and inclusive solutions. The unveiling of our new SaaS solutions marks a significant step towards realizing this vision globally, providing access to cutting-edge technology even in technologically under-developed regions, to align with the global healthcare standards,” said Anand Kumar Chief Revenue Officer of Healthcare Triangle.
Global digital health venture capital funding reached $26.8 billion in 2022, showcasing the strong support and confidence investors have in the healthcare technology sector (Source: Global Health Innovation Index). Healthcare Triangle's initiative leverages this confidence to drive digital health innovations that will revolutionize the industry.
With two billion people lacking access to essential health services, Healthcare Triangle's initiative aims to address the digital divide, making technology solutions more inclusive and accessible (Source: World Health Organization). The Company's commitment goes beyond profitability, focusing on creating solutions that cater to diverse global populations.
Healthcare Triangle anticipates substantial investments in the healthcare sector, reaffirming its commitment to fostering continuous innovation and advancements in digital transformation. Healthcare Triangle envisions a future where advanced healthcare technologies empower communities globally, irrespective of geographical or socio-economic constraints. Through this commitment, the Company aims to play a transformative role in shaping the global healthcare landscape, ensuring equitable access to the benefits of healthcare technology across borders.
About Healthcare Triangle
Healthcare Triangle, Inc., based in Pleasanton, California, reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare including hospitals and health systems, payers, and pharma/life sciences organizations in their effort to improve health outcomes through better utilization of the data and information technologies that they rely on. Healthcare Triangle achieves HITRUST Certification for Cloud and Data Platform (CaDP), marketed as CloudEzTM, DataEzTM and readabl.AI HITRUST Risk-based, 2-year (r2) Certified status demonstrates to our clients the highest standards for data protection and information security. Healthcare Triangle enables the adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, identity management, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. www.healthcaretriangle.com.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as “projected,” “expect,” “possibility” and “anticipate.” The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should read the risk factors set forth in the Company's Annual Report on Form 10-K filed with the SEC on March 28, 2023, subsequent filings and future reports filed with the SEC. All the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release.
Contact
Investors:
1-800-617-9550
ir@healthcaretriangle.com
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