The idea of the sharing economy model is not new to us. We have seen it pop up in several different technology applications. Airbnb; an application where people offer affordable short-term boarding for travellers. Another example of sharing economy is the application called LetGo; a space where people can buy and sell their gently used items. Still unsure what this is all about? Investopedia explains, “The sharing economy is an economic model often defined as a peer-to-peer (P2P) based activity of acquiring, providing or sharing access to goods and services that are facilitated by a community based online platform.” AcuteNet CEO Fariba Anderson, has made it her mission to evolve the healthcare industry by applying this model.

Based in Mississauga, AcuteNet is currently serving over 50 customers ranging from not-for-profits to agencies and government entities. Since 2011, the young company has been looking to provide an economical solution to the climbing expenses involved in the excessive amount of forms mandated by regulating bodies. Healthcare professionals are forced to spend their precious time filling out these forms instead of concentrating on delivering first class patient care.

How is AcuteNet able to make this process less painful for the industry? It is the company's four pillars that allow this innovation to take place:

  1. The digitization and workflow automation of medical forms.
  2. Cloud computing available from any device anytime anywhere.
  3. Versatile integration capabilities that work with any existing network infrastructure.
  4. Multi-layer encryption enabling trusted security and online and offline accessibility.

Together, these pillars form an application that not only saves time and dollars on the lengthy administrative processes, but it also applies the sharing economy model to patient care expenses. “With form digitization and workflow automation, AcuteNet's SaaS capability can be correlated to an “Uber” solution for addressing the technology requirements of clinical assessments, care plans and outcomes – delivering the right care to the right patient at an economical rate.” Essentially AcuteNet can connect to the user’s ERP systems through the digitized forms. This connection enables the ability for customers to leverage reliable data via interRAI Clinical Assessment Instruments located on AcuteNet’s private cloud in real time.

This type of technology is going to become more and more critical when it comes to the ageing population. As the older generations continue to age, we will see the need for a more efficient and economical solution for long-term care. An article from itbusiness.ca explains that, “AcuteNet offers customers a framework that allows for flexible clinical assessments, care plans, reporting, and administration, leaving more resources available for patient care.” Ultimately AcuteNet can help create a more sustainable healthcare infrastructure for the future.

CEO Fariba Andreson recently spoke in front of the Toronto City Council Licensing and Standard Committee at the end of 2017. She spoke articulately about how the power of technology can improve the quality of patient care for both the payers and providers in the healthcare system. Have a look at what she had to say below.