Iodine Software Expands Industry Leadership by Joining Coalition for Health AI
AUSTIN, Texas–(BUSINESS WIRE)–Iodine Software, a leading healthcare enterprise AI software company, today announced it has joined the Coalition for Health AI (CHAI), a private sector coalition committed to developing industry best practices and frameworks to further innovation, safety and security for health AI.
“As leaders in AI-driven mid-revenue cycle solutions, Iodine Software has always believed that transformative technology must be developed with an unwavering commitment to safety, transparency, and innovation,” said William Chan, CEO and co-founder, Iodine Software. “Our decision to join CHAI reflects our long-standing mission to set the highest standards for responsible AI in healthcare. By collaborating with CHAI, we’re helping to shape critical frameworks that will define how AI can safely and effectively improve patient care, documentation, and clinical outcomes.”
“I am thrilled to welcome Iodine Software to our growing community of organizations committed to advancing effective and responsible health AI,” said Brian Anderson, CHAI’s CEO. “We are driven by the engagement and expertise of our members and the feedback of our broader health ecosystem and the public. We look forward to working together to unlock the potential benefits of AI, on a foundation of trust, safety, and security.”
As a coalition bringing together leaders and experts across the community of health systems, patient advocates, researchers, professional associations, start-ups and established technology providers, CHAI has established working groups focusing on privacy and security, transparency, usefulness, and safety of AI algorithms. CHAI recently released its draft applied model card, or “nutrition label for health AI”, with an invitation for public review and comment by January 2025.
CHAI was started by clinicians. Its mission is to build the broadest possible consensus across the health ecosystem to help ensure health AI is trusted, secure and safe. The CHAI membership is open and rapidly expanding. Today it includes nearly 3000 organizations including health systems, patient advocacy groups, academia, and a wide range of industry start-ups and incumbents. CHAI is committed to convening and dialogue to achieve consensus.
“The National Health Council is energized to bring the full diversity of our patient-focused membership to the table as a CHAI Founding Partner. We share the belief that the patient perspective is essential to ensuring that AI in healthcare is designed and deployed to the benefit of all,” said Randall L. Rutta, CEO of the NHC. “AI has enormous potential to make quality healthcare more informed, accessible, and affordable. Our aim is that AI be patient-centric, responsible, and trusted. We are committed to engage in CHAI to amplify and assure that diverse patient voices are heard in this process of learning and informing our way forward with AI.”
About Iodine Software
Iodine is an enterprise AI company that builds transformative technologies to help healthcare organizations realize the full value of the care provided. Across the revenue cycle, Iodine’s solutions automate complex clinical tasks, create efficiencies and maximize revenue. The company’s powerful, predictive AI/ML engine emulates the judgment of clinicians by interpreting raw clinical data to generate real-time, highly focused, predictive insights. Clinicians and hospital administrators can leverage these insights to dramatically augment the management of care delivery – facilitating critical decisions, scaling clinical workforces through automation, and improving the financial position of health systems. For more information, please visit www.iodinesoftware.com.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 companies in 42 countries, and as of June 30, 2021, had $81 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit www.adventinternational.com or www.linkedin.com/company/advent-international.
About CHAI
The CHAI (Coalition for Health AI) mission is to be the trusted source of guidelines for Responsible AI in Health. It aims to ensure high-quality care, foster trust among users, and meet the growing healthcare needs. As a coalition bringing together leaders and experts representing health systems, startups, government and patient advocates, CHAI has established working groups focusing on privacy and security, fairness, transparency, usefulness, and safety of AI algorithms.
Some of CHAI’s non-profit founding partners include: AdventHealth; Duke Health; Johns Hopkins Medicine; Kaiser Permanente; Mass General Brigham; Mayo Clinic; Mount Sinai Health System; Providence; Penn Medicine; University of North Carolina Health; Stanford Medicine; Vanderbilt University Medical Center; and Yale New Haven Health. Its industry founding partners include: Amazon; CVS Health; Google; and Microsoft.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, Iodine Software, LifeStance Health, Panalgo, Unily, Upperline Health, Validity, and Webflow. The partners have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmith.com.
Media Contacts
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