Related to the recent Channel Nine news reporton the Ainsoff early warning software, there is a news article on the SydneyAdventist Hospital that provides more insight:
Artificial Intelligence monitoring patient deterioration provessuperior to other early warning systems
Article link:https://www.sah.org.au/news-detail?id=1280
Interesting information within the article isthe feedback from the nurses using the system:
“Seniornurses at the Sydney Adventist Hospital have commented: “We really love theability to view the health of the entire ward in one snapshot. The AinsoffIndex for every patient is displayed on one page, which allows us to allocatesenior staff to sicker patients, and also to ensure that unwell patients don’tget missed.”
Alsointeresting that Dr Levi Bassin commented that due to the superior resultsAinsoff could replace the other systems currently being used.
“Wesee the Ainsoff Index as part of the new era in medical informatics, where AIis being used to assist staff,” said Dr Bassin. “Given our results showing itis superior to currently available early warning systems, it could beconsidered as an eventual replacement of these less sensitive systems”
Initialresults published in the Journal of Critical Care Medicine show thestatistically derived index is superior to other early warning scores atpredicting adverse events while there is still time to intervene. A 12-monthclinical trial of the system at the Sydney Adventist Hospital has just closed,and the results will be reported in a forthcoming publication.
Just for the Ainsoff products in Australia alone Beamtreeforecast a total addressable market of more than $200m.
In relation to the recent deal involving Royal AdelaideHospital, I was speaking to an individual with experience in medical software salesto Hospitals in Australia (not related to Beamtree), they said that the RoyalAdelaide Hospital is leading edge in Australia and more willing than most totry new technologies, and Sydney Adventist is another.
As apparently a lot of decision makers at hospitals in Australia generally actlike sheep and follow the same technologies their peers are using. They alsolike to see reference sites as part of their decision-making process. It’s probablywhy Beamtree referred to it as a strategic deal with Royal Adelaide Hospital.
If the Ainsoff software system is what they say it is, interms of its superiority to other systems, and the reference sites and staffusing the software are happy with the results. Then I would think that Beamtreecould be a fair chance to take a percentage of the $200 million market for thesuite of Ainsoff products, over time. The timing of sales of the Ainsoff systemmay depend on the hospital tender cycle as well.
With proforma revenue to 30th June of approx. $20million, just a 10% share of the $200 million Australian market just for Ainsoff’sproducts alone, would double the revenue of Beamtree.This is all without the growth from the other productsBeamtree sell such as, RippleDown, RISQ, Potential(X)’s products, internationalmarkets for Ainsoff, etc..
With close on 100% customer retention rate, probably due toBeamtree’s software being seen as mission critical for customers, and reoccurringrevenue of approx. 82%. I have been wondering how long it will take the marketto recognise the qualities of this business and the large revenue upside.
Mypersonal opinions, DYOR of course.
(20min delay)