Following on from their earlier success in 2014 with PRIME, continuous efforts were made to increase the awareness of new innovative technology being developed by Rinicare. In March 2017 Rinicare was awarded the seal of excellence by the European Commission in recognition of its forward-thinking concept to integrate an Intelligent Risk and Prediction System. With thousands of patients in Europe and worldwide dying each year due to potentially preventable complications and thousands more surviving with disabilities, the economic burden of patient complications amounts to hundreds of millions of Euros annually. Rinicare addresses this challenge by providing clinicians with the Intelligent Risk and Prediction System (IRIS), a solid tool to support their decision-making based on the patients’ future level of expected stability (or instability).
IRIS facilitates a reduction in healthcare costs and an improvement in wellbeing for patients. IRIS’ unique algorithm and innovative use of machine learning coupled with sensors is new to Europe, and represents a significant move forward in the design, development and operation of precision and personalized medicine. It represents wholly innovative use of ICT to create a personalised/precision healthcare intervention helping to establish Europe at the forefront of ICT in health and precision medicine. Rinicare is currently working with several hospitals and medical institutions across Europe, as well as patient monitoring manufacturers, which that have expressed a strong desire to support the development of IRIS and to sign up as end users as they can see the benefits that it brings. They are also positioned as early-adopters and first customers of IRIS. The predictive analytics market was valued at $USD 2,400m (400m in Europe alone) in 2017 with a high CAGR of 34% for 2015-2022. Rinicare plans ambitious sales forecast for IRIS. The project will be coordinated by Rinicare, a healthcare technology SME whose main role is to successfully launch IRIS into the market for a better healthcare, cost reduction and profit generation.