Hunt Valley, MD – September 27th, 2023 – Kermit, Your Implant Spend Management Experts TM, today announced a partnership with DeepThink Health, an AI-powered leader in the transformation of health data into intelligence, to bring artificial intelligence and machine learning to implant spend management, including the digitization and processing of implant bill sheets.
This first-of-its-kind partnership will enhance Kermit’s already proven process for reducing implant costs for hospitals, health systems, and ambulatory surgery centers, creating opportunities for faster savings realization and exposing areas for additional savings opportunities.
“We are excited to partner with an industry leader like DeepThink Health to bring AI to a part of healthcare that has long been ignored,” said Kermit CEO Jason Smith. “Working with DeepThink Health to apply machine learning and artificial intelligence to Kermit’s purpose-built software will allow us to make an even greater impact on the bottom line of healthcare. Kermit’s ongoing mission to increase efficiencies and create the cleanest transaction possible for all stakeholders involved in the bill-only process becomes a reality now more than ever with the workflow enhancements made possible by the introduction of AI.”
“DeepThink Health’s AI-powered solutions are designed to address a variety of needs across the healthcare spectrum, including data challenges and market inefficiencies within the medical device segment,” said David Dvorak, Chairman and CEO of DeepThink Health and former President and CEO of Zimmer Biomet. “Our solutions are specifically designed to address these issues and replace antiquated systems and labor intensive, inefficient processes with a collaborative, efficient medical device marketplace that better serves providers, manufacturers, payers and, most importantly, patients. Kermit has done exceptional work over the past decade to address inefficiencies within this market that directly affect providers. We are excited to leverage our capabilities in a manner that will further advance Kermit’s already best-in-class offerings for providers as well as other medical device marketplace stakeholders.”
The first Kermit and DeepThink Health collaborated project will launch later in October 2023.
Since being founded in 2011, Kermit has achieved more than $275 million in implant savings for client hospitals, health systems, and ambulatory surgery centers. When Kermit’s suite of complementary software and services offerings are deployed, increased efficiencies create the cleanest transaction possible for all stakeholders involved in the bill-only process.
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Kermit is the leading provider of implant spend management solutions, empowering healthcare organizations to optimize their procurement processes and achieve substantial savings. With a comprehensive suite of purpose-built technology and strategic advisory services, Kermit helps clients streamline operations, enhance financial performance, and deliver exceptional patient care.
About DeepThink Health
DeepThink Health offers an innovative Precision Intelligence Platform that extracts, de-identifies and curates complex clinical, genomic and other contextual health datasets with unmatched accuracy and precision. Our platform transforms unstructured data into actionable intelligence at scale. DeepThink’s solutions then apply advanced analytics and proprietary machine learning to enable a variety of use cases across the healthcare spectrum. Our team has extensive experience and a track record of success in leading healthcare technology companies.