Cleveland Clinic Puts its Algorithms on the Market
Cleveland Clinic will commercialize its portfolio of data analytics algorithms, becoming the fifth organization to join the Apervita Market for making data sets and/or algorithms available for other healthcare organizations to subscribe to or purchase.
Apervita, founded in early 2012, offers a marketplace software platform where organizations can get and use established evidence-based data sets and algorithms, speeding up their analytics projects. The data sets are de-identified so others can use them for research, comparative analytics and benchmarking.
An algorithm, according to TechTarget.com, is a procedure or formula for solving a problem. A computer program can be viewed as an elaborate algorithm. In mathematics and computer science, an algorithm usually means a small procedure that solves a recurrent problem.
Algorithms solve a problem because they enable the automated shifting through of complex data so the most important information is presented, explains Rick Halton, chief marketing officer at Apervita. He gives an example: An algorithm is a math-based analytic in the form of a prediction model which serves to help the clinician detect patient risks.
Ten organizations currently have placed data sets and/or algorithms on the Apervita Market, covering risk assessments, indexes, readmission predictive tools, scores and calculators. Algorithms that Cleveland Clinic is placing in the market cover cardiology, surgery, oncology, behavioral health and diabetes, among others.
Other companies already offering content on the market include Mayo Clinic; Quant HC, which has software to detect patient deterioration before clinicians become aware; CETA Solutions, which cleans duplicate records; and Diameter Health, which has 30-day readmission tools.