Our "К-SKAI" company has attracted more than $1,8 million of private investment for developing the Webiomed project and entry to international markets.
Webiomed is the Russian system of predictive analytics and risk management in healthcare. Webiomed allows to analyze various medical data automatically, identify risk factors and suspected cases of diseases and generate projections based on them. The predictions contain comprehensive likelihood assessment of various diseases development and patient's consequent deaths from them. The system offers personal recommendations for both doctors and patients based on tactics of examination and preventive treatment. The system is based on its own comprehensive methodology of determining risks of developing diseases and their complications, including the implementation of various models based on machine learning, analysis of medical data using natural language processing (NLP) methods and additional algorithms based on clinical recommendations.
According to ReportsAndData, the Global Healthcare Predictive Analytics market size was USD 2, 9 billion in 2018 and is expected to reach USD 22, 39 billion by the year 2026, growing at a CAGR of 28.9%.
Meticulous Research estimates that the market size will reach USD 84.2 billion in 2027.
Predictive Analytics tools in the field of healthcare help to analyze historical health data and identify patterns of this data. Predictive Analytics bases the predictictions of possible events in the future not only for individual patients but for the population as well. In fact, such systems provide precise recommendations for making medical and administrative decisions based on the current situation. It enables to reduce morbidity and treatment costs of neglected diseases.
Growth of the market for such systems is mainly attributed to the demand for improved healthcare management, growing needs for digital transformation in operation of medical organizations and widespread introduction of electronic health records.
"Last year, our main task was to develop the first version of the system and implement pilot projects. We have seen in practice that predictive analytics is an absolute trend in the digital future of finding mentors and investors who would help to develop. Now we can say that the investment transaction has been completed, and we are starting to implement our business strategy", - said Roman Novitsky, CEO of K-SKAI.
The Webiomed system is the first software product using artificial intelligence that has successfully passed technical and clinical trial and has been certified for use in medicine in the Russian Federation (was registered by Roszdravnadzor).
Currently, Webiomed is already implemented in several medical organizations in the Yamalo-Nenets Autonomous Region, the Kirov region, and the Republic of Karelia. The project has recently won AstraZeneca Skolkovo StartUp Challenge 2020 and has won in the contest of the best domestic solutions based on the «end-to-end» digital technologies. It was organized by the Analytical center under the Government of the Russian Federation in cooperation with the Ministry of Communications of Russia.
The project was launched with funds from its founders Roman Novitsky and Alexander Gusev in 2018.
"There has been a lot of discussion about the importance of disease prevention. However, despite impressive examples and prospects of this approach, this is in its infancy in practice. Doctors are overloaded on their appointments, there is too much data about the patient, and there is too little time to analyze it. As a result, doctors rarely analyze full health information of a patient and determine risk of developing certain diseases. Our system allows transfering this task to artificial intelligence and give effective digital assistant to all healthcare professionals and ultimately to patients in order to prevent potential diseases", - says the co-founder of the project Alexander Gusev.
The company is planning to direct the investments to the technological development of the product, its introduction in the regions of the Russian Federation as well as its launch on international markets. An important point is that the project's investors have extensive experience in managing finances in the largest companies of the country and providing assistants to different high-tech projects, including global market entry.
"The company is systematically developing the project now. It has a strong scientific component. The company is a resident of Skolkovo. The founders have extensive experience in digital health. Given these factors, Webiomed project was chosen for investment from plenty of other projects. We believe that it has great prospects not only in terms of finances but in terms of its importance for saving people's health as well”,- said one of the investors, Spartak Zabolotsky.