Avantas was delighted to be chosen as one of nine finalists at ABL’s 18th Innovations in Healthcare ABBY Awards in Long Beach, California on October 25. The ABBY awards recognize and celebrate organizations that have brought to market innovative approaches to the delivery of healthcare, medical devices, diagnostics, healthcare IT, and digital health technologies that are dramatically reducing the cost of quality healthcare.
The Adaptive Business Leaders (ABL) Organization is a membership organization composed of CEO’s, presidents, and C-level executives who meet in monthly, industry-focused roundtables and events held throughout California. ABL members are technology and healthcare chief executives who want to take their companies to the next level.
Nine finalists were chosen by ABL committee members for this year’s ABBY awards, with three organizations competing in each of the three innovation categories: health IT or digital health technology, medical device or diagnostic, or approach to the delivery of care. Avantas applied to the innovative health IT category with our predictive analytics for healthcare forecasting and staffing technology.
Avantas’ predictive model uses time-series analysis to accurately predict staffing needs months in advance of a shift. Predictions made 60 days out can be expected to get staff within one of what is actually needed 96 percent of the time.
This improved clarity of needs has proven to increase staff satisfaction scores, improved nurse retention, reductions in open shift incentives rates and bonus pay, overall nurse labor spending reductions of 4 to 7 percent, and delivers valuable time back to nurse managers to focus on patient care and staff development.
It was an insightful day to learn about fellow innovative organizations making advancements to the delivery of healthcare and reducing costs.