WHY IT MATTERS
The challenge developed by the CMS Innovation Center to find new AI-powered approaches to predicting health outcomes for Medicare beneficiaries initially drew more than 300 entries from across all industries, including Accenture, Deloitte, Geisinger, IBM, Mayo Clinic and Merck. These were first winnowed to a top 25 and then to seven finalists.
As the grand prize winner, Austin, Texas-based ClosedLoop.ai will receive up to $1 million in prize money.
Danville, Pennsylvania-based Geisinger was the runner-up and will receive up to $230,000.
Both organizations were recognized by CMS for their AI and machine learning tools to predict unplanned hospitalizations, skilled nursing facility admissions and adverse events. They each created predictive algorithms as well to identify Medicare beneficiaries at risk of mortality in 12 months.