AI-industrie.png

Smart Manufacturing & Materials-iStock-1135159658-BEWERKT.jpg

<p><strong>As a medtech company, how do you convince hospitals and insurers of the value of your medical AI technology? How do you demonstrate the impact of your product and algorithm? Solid evidence helps in this regard. With Medip Analytics’ software and data, AI companies can more easily demonstrate the impact of their product. “We evaluate the added value of diagnostic products in healthcare. In doing so, we look at patient outcomes, healthcare costs, and staff capacity,” say Stan Wijn and Tim Govers. The founders of the Nijmegen-based startup explain exactly what that means.</strong></p><p><img src="https://cms.aihub-oost.nl/uploads/Medip_Analytics_helpt_met_data_AI_medtech_bedrijven_4416bca328.jpg?token=hJIDpurJDBtC0X4kdjU7guEmAAPNIbsECiITQ7-WVhk&amp;expires=1777452375" alt="Medip Analytics helpt met data AI-medtech bedrijven.jpg" srcset="https://cms.aihub-oost.nl/uploads/thumbnail_Medip_Analytics_helpt_met_data_AI_medtech_bedrijven_4416bca328.jpg?token=XIxgAe0yhka1QxmmoPFD3mPcfVoNir419ozC80_MOC4&amp;expires=1777452375 234w,https://cms.aihub-oost.nl/uploads/small_Medip_Analytics_helpt_met_data_AI_medtech_bedrijven_4416bca328.jpg?token=2a2UO8zxw6TV4BUKagJvG2cONXf2WL4R3YdG_F9peTs&amp;expires=1777452375 500w,https://cms.aihub-oost.nl/uploads/medium_Medip_Analytics_helpt_met_data_AI_medtech_bedrijven_4416bca328.jpg?token=_B8ngynBQqscuQVIt975L9PMrYGRAb88n9YMcujXFk0&amp;expires=1777452375 750w,https://cms.aihub-oost.nl/uploads/large_Medip_Analytics_helpt_met_data_AI_medtech_bedrijven_4416bca328.jpg?token=uldsoofoTRqyIDCsvgPA_02D7V46RdgP7mXvEo95Epk&amp;expires=1777452375 1000w," sizes="100vw" width="5309" height="3539"></p><h2>Mapping the Care Path</h2><p>CTO Stan and CEO Tim take turns speaking during the interview and complement each other’s answers. “The first question companies usually get when they want to bring their product to market is: ‘What’s in it for us?’ We can provide that data. Take, for example, a company that has developed a blood test to detect prostate or bladder cancer at an early stage. They know how accurate the test is; if there are 100 men with prostate cancer, how many of those men does the test detect? And also: if there are 100 men without prostate cancer, how often does the test indicate that something is wrong when it isn’t? Those are the two baseline metrics in diagnostics. And based on that accuracy, the tests are now being sold. We go a step further. For each clinical condition, we conduct analyses in which we map out the entire care pathway: someone visits the doctor—what’s the next step, what are the treatments, and so on. We build a predictive model of patients over time. What if patients receive a correct result or a false-positive test? What does that mean? We simulate their health status and assign outcomes to it.”</p><blockquote><p>This is especially true for AI: the technology is constantly evolving, and so are the products and services in which you apply this AI technology. That means your evidence base must also be dynamic.</p></blockquote><h2>Customized Analyses</h2><p>“Hospitals and insurers want to know: if I use that test, how will it affect the patient’s health? How does it affect quality of life, and how does it change healthcare costs? We’ve incorporated that into a software package, and our clients can use that software to demonstrate these results to various hospitals.  The test’s accuracy is the baseline. In addition, we use data from the hospital. What is the age distribution of the patients, what treatments are they receiving, and what does the current diagnostic pathway look like? This allows us to create customized analyses and show that specific hospital very precisely: if you start using this test, here’s how it will change things for your patients in terms of survival and quality of life, and also: here’s how it will affect the costs you incur throughout that entire care pathway. That allows a hospital to better assess whether they should implement the test.”</p><h2>Dynamic Evidence</h2><p>The startup helps companies with “dynamic evidence.” What’s so “dynamic” about it? “We don’t believe it works to calculate something once and then consider it done. This is especially true for AI: the technology is constantly evolving, and so are the products and services in which you apply this AI technology. That means your evidence must also be dynamic. </p><blockquote><p>A year after your analysis, your product has already changed, and the added value is actually already outdated. With our software, you can keep your evidence up to date.</p></blockquote><h2>‘Building Everything by Hand Ourselves’</h2><p>Does Medip Analytics use AI itself? “Our clients are AI companies, but we aren’t currently using it ourselves. We program the models we create ourselves. AI is about large datasets, and in those cases, we let the algorithm write its own code. We don’t do that; we write the code manually. We first have to figure out how the care pathways work, relying primarily on existing literature and guidelines. In the future, we may be able to do that based on data from hospitals, but for now we’re still building everything ourselves. We have all the AI expertise in-house, but we don’t have large datasets—that’s the main reason we aren’t using AI yet.”</p><h2>A Growing Company with International Clients</h2><p>Medip Analytics is a young company, founded in 2021 by two biomedical scientists. The two men met while working at Radboudumc. A lot has changed in three years: “We started out as a team of two; now there are five of us. Our office is located at the Novio Tech Campus, a great place to continue growing. We have international clients—American, Swedish, and Swiss companies—from the countries where the major biotech firms are based.”</p><p>One of its first clients is Thirona. The Nijmegen-based spin-off from Radboudumc develops and sells AI-driven solutions for analyzing lung images. A specific AI algorithm can assess, based on CT scans of the lungs, whether a COPD treatment is working or not. Medip Analytics wrote a program that allowed Thirona to demonstrate the added value of their technology compared to current methods. “Thirona had created something great, but then you still have to bring it to market. With our software, they were able to demonstrate the benefits of their method in detail, both in terms of healthcare and finance. They used that data for, among other things, a European funding application, which was approved.”</p><h2>‘Not Just Demonstrating Value, but Also Optimizing It’</h2><p>“We don’t just calculate a product’s added value; we can also help optimize it. Suppose you have a test with a score between zero and 100 points. Above 50 points, we classify someone as ‘sick.’ You set that so-called cutoff value yourself. You could also say, ‘We classify everyone with 30 points or more as sick.’ The lower the cutoff value in this case, the more ‘sick’ people there are.  But that also means you’re wrongly classifying more people as sick. The cutoff value is often determined rather subjectively, along the lines of: “Let’s go with 50 points; that should be about right.”  We can calculate for companies—or for a specific hospital—where it’s best to set that cutoff score to provide as much added value as possible for that hospital, while keeping costs as low as possible relative to health outcomes. It makes quite a difference whether the next step is a simple blood test or whether you need surgery right away.”</p><h2>‘Funding from SFG gave us a boost’</h2><p>With support from Briskr, Oost NL, Mercator Launch, and KplusV, Medip Analytics received funding from the Startup Fund Gelderland. “That gave us a boost; it allowed us to lay a solid foundation for our software.” What’s unique about this fund is that it’s linked to the Briskr support program, which guides startups both before and after a loan is granted. Oost NL is the fund manager for the Startup Fund Gelderland.  The startup also took advantage of De Groeiversneller, a support program for entrepreneurs funded by the province of Gelderland and administered by Oost NL.</p><h2>Future Plans</h2><p>There’s no shortage of future plans. The team is currently developing an application to calculate the environmental impact of new technologies in healthcare. Alongside health outcomes, costs, and healthcare professionals’ time, this will become the startup’s fourth pillar. The company is also in talks with various parties to integrate its software with AI platforms focused on imaging.</p><p>Want to learn more about Medip Analytics? Visit https://www.medipanalytics.com/</p><p><i>The AI Hub East Netherlands is here for entrepreneurs (startups, scale-ups, SMEs, and large companies), knowledge institutions, and government agencies in the region that are working with—or want to work with—AI. This applies both to organizations already actively engaged in AI applications and to those just beginning to explore AI.</i></p><p>Back</p>

Medip Analytics Helps AI-Driven Medtech Companies with Data

These entrepreneurs have paved the way for you

Meet our frontrunners

Medip Analytics helpt met data AI-medtech bedrijven.jpg

<p>As a medtech company, how do you convince hospitals and insurers of the value of your medical AI technology? How do you demonstrate the impact of your product and algorithm? Solid evidence helps in this regard. With Medip Analytics’ software and data, AI companies can more easily demonstrate the impact of their product. “We evaluate the added value of diagnostic products in healthcare. In doing so, we look at patient outcomes, healthcare costs, and staff capacity,” say Stan Wijn and Tim Govers. The founders of the Nijmegen-based startup explain exactly what that means.</p>