Lisa Israelovitch, Co-Founder and CEO of AssistIQ, is addressing the challenges in healthcare supply chain management caused by a lack of accurate data on supplies used across the care facility, which leads to operational inefficiencies and financial losses. The previous methods of tracking have often been manual and unreliable, involving product stickers, barcode readers, and manual data entry. Using computer vision and AI to automatically see, track, and document every product used is improving data accuracy, saving clinicians' time, enabling inventory tracking and product expiration management, and delivering significant financial benefits.

Lisa explains, "What really took us from building this inside one hospital to a market solution was spending time across dozens of systems in the US and Canadian landscape. And we found that three things were predominantly happening. Either there was a lot of manual entry searching and typing into the electronic health record system, such as Epic, or others. Often, barcode scanners worked only a portion of the time when the product was in the hospital's ERP system, but they often weren't. And so the barcode scanners only worked for a portion of the time. And then, honestly, the thing we saw a bunch of was nurses with product stickers on their sleeves, and they would basically post those stickers on paper. And so it was really a combination of waste to try to get to that documentation."

"So everything from implants to staplers to glue and things are typically hundreds to thousands of dollars. And just the accuracy was simply not there. In most hospital operating rooms, it's a huge revenue center in US hospitals, but for all markets, it's a huge cost center in terms of just the supply chain in general across the system, which is the largest cost category that the health team has after wages from their labor. And the OR, it's often the leading cost factor. So the supplies can be pretty expensive, as you said."

"The key became really figuring out how we could automate that work so that the clinicians, the nurses, the technicians were truly focused on the patient. Focused on assisting the physician for the case and making sure that they weren't having to do any of this extra sort of administrative work. Ultimately, it is their responsibility to document what gets used, but it has to be much more automated to get to that level of data accuracy and quality."

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