The United States-based healthcare startup CitrusTech launches its new open healthcare artificial intelligence model named Medictiv. It is the world’s first artificial intelligence model directory that provides cross industry collaboration.
With this new technology, CitrusTech wants to boost the adoption of artificial intelligence and machine learning solutions in the healthcare industry. The platform has more than 250 tested artificial intelligence and machine learning models that can be used by organizations in a plug-and-play manner.
The models have been carefully handpicked by CitrusTech after intensive research work. The company already has a client base of over 50 deemed healthcare organizations. Medictiv offers artificial intelligence models for various purposes like revenue cycle management in healthcare, medical imaging, denial management, chronic condition management, and clinical natural language processing.
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President of CitrusTech, Bhaskar Sambasivan, said, “As the demand for viable and proven healthcare AI models grows, Medictiv will deliver significant value to analytics, data science and digital innovation teams that are focused on solving key business challenges – by providing a collaborative ecosystem and helping democratize AI in healthcare.”
He further added that artificial intelligence, machine learning, and predictive analysis would play a vital role in revolutionizing the healthcare sector. CitrusTech was founded in New Jersey by Jagdish Moorjani and Rizwan Koita in 2005. The company specializes in developing artificial intelligence-powered data management and predictive analytics software. It has a workforce of more than 4000 experienced professionals worldwide. CitrusTech is a unicorn company that has a revenue of more than $200 million.
Vice Senior President of data science at CitrusTech, Shridhar Turaga, said, “Healthcare organizations are struggling with ROI for their AI/ML initiatives, as they often underestimate the cost of data, development, and validation.”
He also mentioned that organizations could use pre-existing artificial intelligence models to boost research speed and improve the overall return on investment.
