IRVING, Texas - Irving-based Vizient plans to invest $1 billion over the next four years in artificial intelligence, data analytics and other technology aimed at helping hospitals and healthcare organizations improve their operations.
The company announced the investment during its annual Vizient Connections Summit. The money will support development of new technologies as well as upgrades to existing products used for clinical care, operations, supply chains and financial performance.
A major part of the initiative is Vizient Edge, a new platform that brings together healthcare data, analytics, AI and the company's expertise. Vizient says the system is designed to help healthcare leaders identify areas for improvement and track results across their organizations.
"Healthcare organizations are facing increasing pressure to improve quality, manage costs, and adapt to a rapidly changing AI-driven environment," said Arun Ramasubramanian, president of Data & Digital at Vizient.
The company is also developing several AI-assisted tools within the Vizient Edge platform.
Operational Intelligence is being built on Vizient's existing Operational Data Base and will use AI-assisted data preparation and guided analytics to help health systems compare performance and identify areas where changes could improve operations.
Another product, Strategy Intelligence, is the next generation of the company's Sg2 EDGE platform. It combines healthcare claims, market demand information, growth forecasts and Vizient research with AI designed to synthesize the information for healthcare executives evaluating growth strategies.
Vizient is also adding system-level reporting and more timely analytics to its Clinical Data Base, which is used in the company's Quality and Accountability hospital rankings.
Its Procedural Analytics offering is receiving a new feature called Procedural Coach. The company says the tool will identify and prioritize opportunities to improve procedure costs and clinical outcomes and provide evidence-based recommended interventions.
The $1 billion commitment will extend beyond the products currently being introduced. Vizient said it is developing another generation of clinical, operational and reimbursement intelligence tools, with additional products and features expected in 2027.
