En Es
Categories

Industry News

Philips Receives Global AI for Enhanced Radiology Interpretation Company of The Year Award from Frost & Sullivan

By Medimaging International staff writers
10 Mar 2020

IllustrationPhilips Healthcare (Amsterdam?, Noord-Holland) has been recognized with the 2019 Global Company of the Year Award by Frost & Sullivan, based on its recent analysis of the global market for Artificial Intelligence (AI) for enhanced radiology interpretation market. Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Philips' paradigm of combining physician enhancing, AI-based technologies, driven by contextual insights, and embedded into radiology workflows, is a disruptive imaging informatics strategy. It underscores the company's approach of employing clinically intelligent software to adapt to radiologists' skills and preferences. The company embeds advanced algorithms across multiple touchpoints in the radiologist workflow and patient care pathway, offering insights each step of the way. This new paradigm generates dynamic, meaningful, insight-rich findings delivered in a tailored, context-aware view, empowering radiologists to transition from volume- to value-based care.

Philips seeks to empower care teams to offer precision medicine (PM) by adopting a systems approach to patient care. Its Enterprise Diagnostic Imaging Solution is a configurable suite of informatics tools granting care teams access to vital information, and then leveraging that information to cultivate the insights needed for precision diagnosis. It combines clinical domain and operational knowledge to channel their components into solutions that propel its clinical and diagnostic service lines. The company now owns one of the industry's broadest portfolios, fueled by deep research collaborations with clinical partners and outreach for enhancing third-party informatics solutions.

Philips' AI paradigm stands out from competing approaches in three ways - contextual relevance, reduced variability, and extensibility. The system streamlines workflows and enables intuitive, robust, and reliable hanging protocols backed by an intelligent image processing engine. The company is now working toward integrating AI algorithms in its precision diagnostics platform and imaging modalities, whether developed internally, through deep customer partnerships, or integrated via third-party collaborations directly within radiologist-caregiver workflows.

"Philips provides integrated solutions and services spanning the health continuum, care levels, and settings. Its vision centers on sustainable health with the stated purpose of improving the lives of 3 billion people a year by 2030," said Siddharth Shah, Industry Manager. "To this end, the company views AI not as a point solution enabler, but as an embedded facilitator in the entire radiology workflow, delivering an enhanced, seamless experience to the radiologist. Philips has optimally harnessed its technology assets across various industries and business units with the end-goal of facilitating holistic, patient-specific insights and smart clinical decision-making at the point-of-care."

Related Links:
Philips Healthcare



E-mail Print
FaceBook Twitter Google+ Linked in

Philips Healthcare

Operates in Diagnostic Imaging Systems, Patient Care and Clinical Informatics, Customer Services, and Home Healthcare with a strong presence in cardio-pulmonary, oncology and women’s health
More info

More articles about Philips Healthcare

09 Nov 2021
Philips Acquires Medical Technology Company Cardiologs to Expand Cardiac Diagnostics and Monitoring Portfolio
Royal Philips (Amsterdam, the Netherlands) has signed an agreement to acquire Cardiologs (Paris, France), a medical technology company focused on transforming cardiac diagnostics using artificial intelligence (AI) and cloud technology.
Read More
13 Apr 2021
Philips Collaborates with AI Startup Ibex to Accelerate Adoption of AI-Powered Digital Pathology Solutions
Royal Philips (Amsterdam, The Netherlands) and Ibex Medical Analytics (Tel Aviv, Israel) have entered into a strategic collaboration to jointly promote their digital pathology and AI solutions to hospitals, health networks and pathology labs worldwide.
Read More
09 Mar 2021
Philips' Diagnostic X-ray Suite to Incorporate Lunit's AI Software
Philips Healthcare (Amsterdam?, the Netherlands) has entered into a collaboration with Lunit (Seoul, Korea) that will make Lunit's AI software accessible to users of Philips' diagnostic X-ray solutions.
Read More
20 Jan 2021
Philips Acquires Capsule Technologies to Expand Leadership in Patient Care Management Solutions for Hospitals
Royal Philips (Amsterdam, the Netherlands) has signed an agreement to acquire Capsule Technologies, Inc. (Andover, MA, USA), a provider of medical device integration and data technologies for hospitals and healthcare organizations.
Read More
05 Apr 2019
Philips Acquires Direct Radiology Teleradiology Platform
Royal Philips is expanding its radiology solutions portfolio with innovative teleradiology services, aimed at addressing the increasing shortage of radiologists, as well as the pressing need to improve access to precision diagnoses.
Read More
30 Oct 2018
Philips Launches Start-Up AI Collaboration Program
Royal Philips has launched its first global start-up collaboration program involving the company’s innovation hubs in Cambridge, US, Eindhoven, the Netherlands, Bangalore, India and Shanghai, China focused on the application of artificial intelligence (AI) in healthcare. The program focuses on the application of AI-based clinical decision support tools, such as image interpretation, analysis and integration, and workflow tools, such as intelligent treatment plans for radiology, ultrasound and oncology.
Read More
22 Aug 2018
Intel and Philips Partner to Speed Up Imaging Analysis Using AI
Intel Corporation and Royal Philips have tested two healthcare use cases for deep learning inference models: one on X-rays of bones for bone-age-prediction modeling and the other on CT scans of lungs for lung segmentation. In these tests, which were conducted using Intel Xeon Scalable processors and the OpenVINO toolkit, the researchers achieved a speed improvement of 188 times for the bone-age-prediction model and 38 times for the lung-segmentation model over the baseline measurements. These tests show that healthcare organizations can implement artificial intelligence (AI) workloads without expensive hardware investments.
Read More
25 Jun 2018
Philips Acquires Remote Diagnostic Technologies to Expand Therapeutics
Royal Philips has acquired Remote Diagnostic Technologies, which offers advanced solutions for the pre-hospital market providing monitoring, cardiac therapy and data management. RDT’s portfolio of connected emergency care solutions will complement Philips’ Therapeutic Care business and strengthen its leadership position in the resuscitation and emergency care market. RDT’s acquisition will also strengthen Philips’ ability to innovate, drive digital transformation in healthcare, and enter new markets.
Read More

Additional news

16 May 2022
Medtronic Completes Acquisition of Intersect ENT to Add Innovative Sinus Implants to ENT Portfolio
Medtronic plc (Dublin, Ireland) has completed the acquisition of Intersect ENT (Menlo Park, CA, USA), thereby expanding the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products used in sinus procedures to improve post-operative outcomes and to treat nasal polyps.
Read More
12 May 2022
Global Lateral Flow Assays Market to Surpass USD 11.5 Billion by 2032 Due to Evolving Applications
The global lateral flow assays market is projected to register a CAGR of 4.7% during 2022-2032 to surpass USD 11.7 billion by the end of 2032, driven by the growing prevalence of influenza, STDs, and tuberculosis worldwide and rising awareness among people about the availability of POCT kits.
Read More
11 May 2022
Global Rapid Test Kits Market Driven by Immunoassay and Chromatography-Based Tests
The global rapid test kits market size was valued at more than USD 25.50 billion in 2021 and is expected to register a CAGR of 8.1% over the 2019-2030 period to surpass USD 52 billion in 2030, driven primarily by the increasing prevalence of various infectious diseases.
Read More
03 May 2022
Meridian Acquires Euprotein to Further Expand Recombinant Protein Capabilities
Meridian Bioscience, Inc. (Cincinnati, OH, USA) has acquired, through its subsidiary Meridian Life Science, Inc., substantially all of the assets of EUPROTEIN Inc. (North Brunswick Township, NJ, USA).
Read More
02 May 2022
Globe Scientific Acquired by L Squared Capital Partners
Globe Scientific (Mahwah, NJ, USA), a provider of laboratory consumable supplies, has been acquired by L Squared Capital Partners (Newport Beach, CA, USA), marking its third acquisition as part of GSI Group Holdings.
Read More
29 Apr 2022
GE Healthcare and Medtronic Collaborate to Improve Product Access for ASCs and OBLs
GE Healthcare (Chicago, IL, USA) and Medtronic (Doral, FL, USA) have entered into a collaboration focused on the unique needs and demand for care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs) that will allow customers to access extensive product portfolios, financial solutions, and exceptional service.
Read More
22 Apr 2022
Global Diagnostic Imaging Market to Surpass USD 33 Billion by 2026
The global diagnostic imaging market is projected to grow at a CAGR of 4.9% from an estimated USD 27.5 billion in 2022 to over USD 33 billion by 2026, driven by technological advancements, favorable demographic factors in the developed regions, growing access to healthcare and rising income levels of the middle class population in the developing regions.
Read More
22 Apr 2022
Global Electrosurgery Market to Reach Almost USD 6 Billion by 2026
The global electrosurgery market is projected to grow at a CAGR of 3.6% from an estimated USD 5 billion in 2022 to almost USD 6 billion by 2026, driven by the rapidly rising number of surgeries being performed globally, an aging population, and increasing prevalence of various chronic diseases.
Read More
21 Apr 2022
Global Infusion Pump Market to Surpass USD 850 Million by 2028
The global infusion pump market will be driven by rising incidence of chronic diseases, rapid growth of the geriatric population who require home care, rising demand for ambulatory infusion pumps, and growing volume of surgical procedures performed around the world.
Read More
Copyright © 2000-2022 TradeMed.com. All rights reserved. | Terms And Conditions