Bloom Value India: AI for Healthcare FinOps - Enabling Healthcare Providers to Optimize Finance & Operations using Data

 Dr. Arun Hampapur,    Founder & CEO

Dr. Arun Hampapur

Founder & CEO

Data has become the life blood of the modern enterprise. From Marketing to Customer Engagement to Supply Chain and HR, data is being used by enterprises to better understand their customers, optimize their supply chain and manage the business. Of all the industries that leverage data, the healthcare industry stands to gain the most but also poses the biggest challenge to analytics and AI technologists. The complex nature of healthcare services, the combination of the human and cost elements makes the use of data both desirable yet difficult. Bloom Value is an AI Solutions startup, launched by Healthcare and IT industry leaders, to bring enterprise optimization capabilities to Healthcare Providers FinOps.

Bloom Value was established in 2021 and is headquartered in Norwalk, CT, US with technology development center in Bengaluru. Bloom's mission is to enable healthcare providers (hospitals, clinic groups, specialty care groups and service providers) to leverage their data to address financial and operational challenges while creating rapid targeted value.

Dr. Arun Hampapur is the Founder & CEO of the company and brings together a highly experienced team of data engineers, data scientists, physicians, healthcare business and services experts. The core team includes Sampoorna Hegde, Chief Innovation Officer and head of India Operations, Dr. Arvind Conjeevaram, Chief Clinical Research Officer, Dr. Venu Kondle, Chief Population Health Officer and Robin Brown, VP of Sales and Business Development.

The Challenge of Efficient and Effective Healthcare Delivery
Healthcare Providers (hospitals, clinic groups) who annually cater to thousands of patients, are the main clients of Bloom Value. Healthcare providers are challenged with delivering compassionate care, while dealing with advancing medical technology and complex business models across private payors, government health schemes and self-pay care consumers.

Bloom Value's mission is to help healthcare providers optimize their services, reduce costs and increase revenue. For instance, Bloom Value's Care Consumer Engagement Optimization solution uses data, analytics and AI technologies to help hospitals proactively monitor and engage patients. Bloom is assisting providers to proactively
create a watch list of at risk patients including their engagement preferences. The providers care coordination team uses this watchlist to proactively engage high risk patients, through telecalls thus preventing acute episodes for the patient. These types of data driven solutions have significant impact on the patient's health outcome while simultaneously improving the revenue and margins for the healthcare provider. In addition to Care Consumer Engagement Optimization, Bloom has AI Solutions tailored to the following areas.

·Risk Contract Optimization Solution- This solution enables risk bearing providers and insurance providers to effectively manage costs while delivering quality care to patients.

·Revenue & Claims Compliance Solution-­ This solution enables hospitals to audit the quality of claims and identify outliers leading to increased revenue and lower risk of payor audits.

·Workforce Optimization Solution-This solution enables healthcare providers to align their staffing and scheduling to the workload and revenue projections.

Implementing solutions like Care Consumer Engagement Optimization involves bringing together a variety of data sources, process models and applying analytics, machine learning and AI technologies in the context of the client. Bloom Value has developed several AI accelerators which specialize in contract management, patient engagement, provider management, and revenue optimization.These accelerators are combined into AI Solutions which can be tailored to the needs of the provider organization. The services of the company are rolled out in three stages collaborative innovation, rapid onboarding and configuration, and transformation support services. Collaborative innovation involves engaging the client in design thinking sessions to identify the burning questions and challenges of the healthcare provider. The collaborative innovation approach ensures that the healthcare providers get rapid solutions to their immediate challenges, while Bloom's platform driven approach enables ongoing innovation. Bloom's approach ensures that the client's team is engaged in the transformation journey. While most tech companies end their involvement with the delivery of the technology, Bloom's collaborative innovation approach provides end to end support to the clients from discovering their questions through applying data driven action to transforming their processes. This comprehensive approach enables the company to offer quick, cost-effective, and targeted solutions, resulting in a win-win situation for all the stakeholders. This unique approach differentiates Bloom Value from its peers.

Healthcare Enterprise Optimization the Game Changer
There are several providers of healthcare data analytics and AI technologies, however, Bloom's top down solution approach with exclusive focus on enabling financially driven transformation of healthcare providers is a key differentiator. This focus enables Bloom to not only develop technology capabilities, but also ensure value through collaborative innovation and scale delivery capabilities. In today's rapidly changing environment, most businesses need to rapidly respond to changing environment. Bloom's patented enterprise optimization technologies ensure that healthcare providers continue to rapidly optimize their finance and operations while providing high quality compassionate care to patients.