Rad AI Completes Acquisition of Equium Intelligence, Further Enhancing Radiologist-Led Leadership Team
Radiologist innovators Bill Boonn and Woojin Kim among the talented Equium team joining Rad AI to further enhance Rad AI’s suite of radiology workflow applications
SAN FRANCISCO, Calif., Nov 27, 2022 -- Rad AI and Equium Intelligence today announced the acquisition of Equium by Rad AI, adding Equium’s exceptional team and deep domain expertise to Rad AI. Equium’s novel AI-driven demand forecasting and resource optimization algorithms will be added to Rad AI’s suite of workflow products for radiologists.
“With 60+ partnerships, multiple expansions, and thousands of satisfied radiologists, Rad AI has made significant traction towards our mission of empowering radiologists with AI to save time, reduce burnout, and help improve the quality of patient care. As we look to accelerate development of our portfolio of radiology workflow products, acquiring Equium Intelligence was a natural fit both because of their innovative software but also because of the stellar track record of their radiologist leaders. We are confident that this combined team will accelerate innovation within radiology workflow at an even faster pace.”
-Doktor Gurson, Co-founder and CEO of Rad AI
Equium’s demand forecasting algorithms help to predict, balance, and optimize workload and capacity, improving productivity and increasing practice revenues while enhancing work-life balance. Real-time forecasts enable practices to proactively prepare for and manage surges in workload and other mismatches in supply and demand.
Equium Intelligence also adds to the Rad AI portfolio the ability to optimize scanner and resource utilization by predicting optimal scan durations, identifying scheduling gaps, and forecasting delays and missed patient appointments. Hospitals and imaging centers can increase patient throughput, reduce backlog, and decrease costly delays and overtime.
“We are thrilled to be joining forces with the team at Rad AI. Equium’s demand forecasting technology perfectly complements Rad AI’s industry-leading suite of applications to deliver next-generation AI-enabled workflow solutions in radiology. Together, we will tackle the ongoing challenges facing radiologists and their practices, including increased workload, staffing shortages, and physician burnout.”
-William Boonn, MD, CEO of Equium Intelligence
“Rad AI values the importance of domain expertise in bringing AI solutions to the clinical practice of radiology, as demonstrated by its products and radiologist feedback. We have a shared passion for empowering radiologists and reducing burnout. We are excited to work together, as leaders in the development and deployment of non-interpretative, operational AI, to create the premier AI-enabled worklist with intelligent routing and prioritization based on forecasted workload and capacity.”
-Woojin Kim, MD, Co-founder and Chief Medical Officer at Equium Intelligence
Rad AI provides a range of products for automating and streamlining radiology workflow, ranging from automatic generation of customized impressions across all imaging modalities, consensus guideline recommendations, and real-time language updates for correct billing and reimbursement, to automatically “closing the loop” on follow-up for incidental findings, ensuring patients get the appropriate imaging follow-up they need. Rad AI’s workflow products are used by more than 20% of all US radiologists, and by many health systems across the country.
To learn more about Rad AI’s products for streamlining radiology workflow at the 2022 Radiology Society of North America (RSNA) annual meeting taking place Nov. 27 - Dec. 1 at McCormick Place in Chicago, visit Rad AI at South Hall booths #4557 or #3205, and Equium Intelligence at South Hall booth #2901.
About Rad AI
Rad AI is the fastest growing radiologist-led AI company. In addition to being named “Best New Radiology Vendor” by AuntMinnie in October 2021, Rad AI was listed as one of the Digital Health 150 by CB Insights, as one of the most innovative digital health startups. In 2022, Black Book ranked Rad AI #1 in Mean KPI score, on its survey of 50 emerging solutions challenging the healthcare technology status quo, and Rad AI was recognized to the AI 100 by CB Insights, as one of the world’s 100 most promising private AI companies.
Founded in 2018 by the youngest radiologist in U.S. history, Rad AI has seen rapid adoption of its AI platform, and is already in use at 8 of the 10 largest private radiology practices in the U.S. Rad AI uses state-of-the-art machine learning to streamline repetitive tasks for radiologists and automate workflow for health systems, which yields substantial time savings, alleviates burnout, and creates more time to focus on patient care.
Learn more about Rad AI at www.radai.com or on Twitter @radai.
About Equium Intelligence
Equium Intelligence is a company that leverages capacity and demand forecasting to predict upcoming workload, enabling intelligent workflow, scheduling, and staffing decisions. Experienced leadership, business agility, and innovative technology unite to elevate your resource management IQ with EQ.