By specializing in mathematical optimization solutions and advanced data analytics, ORTEC aims to make the world a better place. The company leverages mathematics and econometrics to improve efficiency and productivity in healthcare. InnovationQuarter is investing €5 million in ORTEC to enable the firm to accelerate its existing healthcare activities. Jeannette Baljeu, member of the Executive Council of the Province of Zuid-Holland, and Charlie Aptroot, mayor of Zoetermeer, announced the investment at the InnovationQuarter Annual Event in the Van Nelle Factory in Rotterdam.
InnovationQuarter stimulates innovation in healthcare with investment in ORTECTuesday, June 25, 2019
How mathematics can contribute to solutions in healthcare
Healthcare in the Netherlands is facing major challenges. Costs are rising every year due to increasing demand, many healthcare providers face staff shortages and patients expect quicker treatment. Data-driven healthcare solutions are required to tackle these issues in an integrated manner. Such solutions can improve performance by ensuring a more even patient flow through healthcare institutions and a better workload distribution among health professionals.
ORTEC has developed innovative mathematical optimization and data analytics solutions that go far beyond simple statistical analysis. Menno Brandjes, director of ORTEC Healthcare, says, “We have been able to make hospitals 15% more productive in the areas where our solutions are applied. This means that 15% more patients are being treated using the same amount of resources. At the same time, employee satisfaction has also increased.”
Intelligent healthcare support using artificial intelligence
Value-based care, personalized care, digitization and prevention through healthy lifestyles have emerged in response to the need to reduce costs and improve quality of care. These trends within healthcare are underpinned by simplifying administrative processes, improving patient interaction with e‑health (blended care) and determining diagnostics based on access to an ever-growing amount of data. Artificial intelligence (AI) is vital to all of this and is playing an increasingly important role in the healthcare sector.
AI provides valuable support to healthcare professionals in their decision making by allowing them to make more insightful predictions and recommendations. ORTEC’s new healthcare initiatives are fully equipped for this and, for instance, make it possible for organizations to better focus on individual patients and subsequently analyze all relevant data. As a result, patients, healthcare practitioners and everyone involved across the entire healthcare chain receive the best possible advice and treatment.
Accelerated growth of healthcare initiatives
InnovationQuarter’s investment will help accelerate the growth of ORTEC’s new initiatives in the healthcare sector. Brandjes says ORTEC is very happy with the extra capital: “InnovationQuarter’s contribution to ORTEC’s healthcare initiatives is helping us scale up our activities more quickly. We are starting in the Netherlands and will eventually expand worldwide. ORTEC has been the market leader in the field of advanced planning software in the Dutch healthcare sector for many years. This investment will allow us to expand our offering in several areas, including integrated capacity management, support in clinical decision making, advanced data solutions for research and the integration of our communications platform for patients and staff”.
Stimulating innovation in healthcare
“Founded in West Holland and now operating across the globe, ORTEC is an outstanding, innovative company that has successfully grown to over 1,000 employees,” says Francis Quint, head of Capital at InnovationQuarter. “With this investment, we can contribute to ORTEC’s growth ambitions in healthcare, which is an important theme in society. InnovationQuarter will utilize its network and organization to accelerate ORTEC’s expansion in this area, not only by linking with our shareholders, such as regional academic hospitals, but also by drawing on the commitment of the healthcare experts in our business development team. The investment also allows us to expand our SME portfolio and our role as a lifecycle investor in the region.”