We are currently working on our next generation product, codenamed PowerKnowledge Builder.
PowerKnowledge Builder will change the way that hospitals perceive their data, by automating the extraction of relevant information from the immense data volumes.
This project is part-funded by a $1 million R&D grant awarded by AusIndustry in recognition of its high level of innovation.
PowerKnowledge Builder specializes in mining and analyzing the data in the extremely large volumes of hospital data and alerts management to trends and adverse events as they occur, through daily exception reporting.
Adverse events include those that may impact patient safety and other quality indicators. In addition, the software quantifies clinical and financial impacts such as increased patient care costs and higher-than-average treatment costs and length-of-stays.
Hospitals can also use PowerKnowledge Builder to cross-reference external data such as socio-economic and other statistical data to look for previously unrecognized activity drivers, thus creating powerful new information to support decision-making and drive continuous improvements in underlying business processes. For example, varying available resources to deal with seasonal changes or restructuring outpatient clinics to improve patient flow.
The predictive analytics technology embedded in PowerKnowledge Builder is based on groundbreaking research developed in collaboration with Flinders University.
Research leader, John Roddick Professor of Information Technology within the School of Informatics and Engineering at Flinders University said, We are working on applying advanced algorithmic, architectural and visualization techniques to the problems of deriving knowledge from potentially large volumes of complex data. Apart from the public benefit, this work is particularly appropriate to the healthcare industry as medical data probably represents the toughest environment for deployment.
PowerHealth Solutions director, Paul Venables reports that work is well underway on the project. With the invaluable support of AusIndustry and our new team in place, we are all working very hard to achieve first delivery, with AusIndustry funding for ongoing development continuing into 2006, said Mr Venables.
This product will be a major asset to the healthcare industry, where hospitals are always under pressure to deliver more and better quality services with less resources.
