Technology

iRemedy to Provide Artificial Intelligence Solution to Improve Portability, Price Competitiveness, Predictability and Transparency of Global Medical Supply Chain

By May 7, 2018 June 24th, 2019 No Comments

Cognitive Computing Pioneer Dr. David Nahamoo Joins iRemedy as Strategic Advisor on AI Development Initiative

STUART, FL –  May 7, 2018  – The iRemedy Healthcare Companies, Inc. (“iRemedy” or “the Company”), developer of the industry transformative iRemedy ecommerce platform, today announced plans to deliver a proprietary Artificial Intelligence (AI) solution capable of matching and comparing pricing and analyzing the usage of millions of healthcare product SKUs from virtually all manufacturers, suppliers and distributors in real-time.  The aim of iRemedy’s AI initiative is to ultimately eliminate prevailing friction and ambiguity currently involved with cross-pricing and sourcing healthcare products worldwide, thereby helping care provider organizations to make fact-based, cost-saving purchasing and inventory management decisions.

According to industry reports, medical supply prices can vary up to 300%, causing most provider organizations to overpay for supplies and medical devices due to a lack of pricing transparency and inefficient supply processes that have endured for decades.  In fact, most medical product suppliers and distributors have wide, inexplicable supply item price variation across customers – price variations that can materially swing from one month to another, depending on the individual account-level negotiations.  iRemedy is intent on bringing to bear high value machine learning technology to disrupt the industry status quo and transform how medical products are sourced and purchased.

To help guide iRemedy’s leadership and technology teams on this highly advanced initiative, the Company has engaged world leading AI authority Dr. David Nahamoo to serve as an AI advisor.

Dr. Nahamoo, who retired from IBM early 2018 after 35 years of service, has championed IBM’s worldwide efforts to realize spoken language as the inevitable mode of interaction with digital systems.  His research in the areas of acoustic modeling, training and resource-optimized implementations has been at the core of IBM’s Automatic Speech Recognition engines for years and has earned him more than 40 patents.  From 2008 until recently, Dr. Nahamoo served as Speech Chief Technology Officer at IBM Research, responsible for technical and business strategy directions for speech technologies and for providing technical direction for Conversational and Multimodal Interaction Technologies at IBM Research Labs Worldwide. During the last 4 years, Dr. Nahamoo was the Conversation Chief Scientist at IBM Research and responsible for the delivery of the technologies for the Watson Conversation Service offerings.  After earning a B.S. degree from Tehran University, an M.S. degree from Imperial College of London and a Ph.D. degree from Pursue University, he joined IBM in 1982 as a research staff member.  Rising through the ranks, he was appointed Senior Manager of the Human Language Technologies Group in 1993 and became the Department Group Manager in 1998.  From 1993 to 2006, he was tasked with delivering speech technologies to IBM Divisions for desktop, embedded, and server-based speech products.  During these years, he was responsible for the technical direction of more than 100 IBM Scientists World Wide. In 2008, he was named an IBM Fellow.

iRemedy’s co-founder and CEO Tony Paquin stated, “iRemedy is among the first companies on the planet to leverage the proven power of AI innovation to readily solve complex medical supply challenges for physician practices and major healthcare enterprises, alike.  When coupled with David’s valuable contribution of cognitive computing knowledge, skill and experience, our AI effort should not only prove successful, but be virtually game-changing for the U.S. Healthcare system.” In terms of scope, sophisticated machine learning, image recognition and knowledge-based predictive industry modeling will be integrated into the AI-solution to help drive and optimize quantifiable value for iRemedy Pro customers.

About The iRemedy Healthcare Companies

iRemedy owns and operates iRemedySupply.com, fast emerging as America’s preferred healthcare eCommerce marketplace where healthcare consumers come to buy medical supplies, drugs, devices and technologies. Since its market launch in December 2015, thousands of consumers, physicians, nurses, dentists and enterprise users of iRemedy’s Software as a Service (“SaaS”) healthcare eCommerce solutions have joined the fast growing iRemedy community. Built from the ground-up by proven healthcare technology experts, the iRemedy platform brings modern eCommerce-driven, cost-reducing solutions to healthcare by delivering the quality, security and end-to-end supply chain management required by the industry, elegantly combining on-line requisitioning, ordering and purchasing with robust back-end inventory management and fulfillment technologies and services.  iRemedy further enhances its electronic marketplace value proposition with fully integrated, SaaS-enabled patient engagement tools available to iRemedy’s professional users, including drug sample program and product recommendation capabilities.  For more information, please visit www.iremedy.com.

COMPANY CONTACTS:

Keisha Graham
Director of Marketing
407-395-4283 | [email protected]
Dodi Handy
VP, Investor Relations
407-960-4636 | [email protected]