Press release
- Investing in AI to reduce queues in healthcare!
The Nordic healthcare technology group Omilon, which offers services in healthcare documentation and speech recognition, acquires the Swedish-based technology company Inovia AI. With strengthened competence in AI and deep machine learning, Omilon gets a unique position in the Nordic market. According to the company’s calculations, one working day a week can be freed up for a doctor to spend on his care assignment – instead of on administration.
With almost 90 years of combined experience in healthcare documentation and speech recognition, it is now clear that Omilon is increasing its focus on AI through the acquisition of Inovia AI. The need for efficiency is great in health and care, but also in public administration and authorities. Today, Omilon handles 20,000 patient records a day in Scandinavia, and according to the company’s calculations, as much as one working day a week can be freed up for a doctor to put on his care assignment. The acquisition of Inovia AI is an important part of the company’s vision to free up time also within public administration and authorities to enable vital differences through their work.
"Freeing up capacity from time-consuming administration is what drives us every day. Whether it is in health and care, or public administration and authorities. By welcoming the team and those who founded Inovia AI into Omilon, we will now be able to offer in-demand AI expertise and contribute to better decision-making based on data from our own operations."
Demand for computerized decision-making material is heavily increasing, while the debt on care continues to grow in the wake of COVID-19. The pressure on healthcare will be great for many years and those affected are healthcare professionals and citizens. In addition, the public finances are expected to deteriorate as a result of costly support measures, higher unemployment and fewer people to support more people.
"In order for us to be able to solve the challenges that exist in the healthcare and public sector, it is necessary that modern technology, AI and people work closely together. We have seen the value of efficiency of telecom and finance, where we were once pioneers. Now we have everything under one roof within Omilon that creates fantastic conditions."
There are also positive security aspects with the acquisition of Inovia AI. All in all, there will be increased investments in IT security and data storage on Swedish soil to increase security for Omilon’s customers and individual citizens.
"For us, it is a matter of course to continue investing in healthcare technology and AI. We cannot accept that a doctor today spends 70 percent of his working time on administration and other things that are not direct patient time when there are other solutions. With the help of people, technology and digitalisation, Sweden can get significantly more out of every tax krona invested, while at the same time freeing up time for the core mission. More time for the patient, for example. And it will be needed if we are to manage welfare in the future."
About Omilon
Omilon is the new Health Tech Group with approximately 230 employees in Sweden, Norway and Denmark and sales of SEK 250 million. Through new technology, AI and the use of digital solutions, the documentation process is streamlined at a lower cost in order to free up value-creating time for, among other things, health care, the police and public administration.
About Inovia AI
Inovia AI is a Nordic leading software and consulting company in Machine and Deep Learning. The company was founded in 2012 with the insight into the power of AI. With a business focus, Inovia AI develops applied solutions with AI-driven voice recognition technology and AI-driven communication assistance for finance, telecom and medical technology.
