Machine data analytics company Glassbeam Inc. announces that it is working closely with Deloitte in a strategic ecosystem relationship to meet the business needs of customers in the healthcare Internet of Things analytics sector. Glassbeam and Deloitte will help healthcare organizations drive higher return on assets by deploying Glassbeam’s Clinsights solution, which delivers improved machine uptime and utilization across an entire fleet of medical equipment.

To flourish in a world of shrinking margins, healthcare organizations must transform how they operate throughout the continuum of patient care. Traditional cost reduction and revenue expansion efforts are no longer enough; organizations need to employ a bold series of data-driven decisions that leverage the power of analytics generated from connected medical equipment.

And this is where the Deloitte and Glassbeam collaboration can help: by implementing solutions like Clinsights to positively affect the income statement and balance sheet. Specifically, healthcare organizations can make the leap to sustainable margins and gain new insights into capital expenditures, operational efficiency and strategic medical equipment fleet management, company officials say.

“There is a new frontier of analytics-based approaches that can help healthcare organizations address the operational challenges of increasing machine uptime and help drive higher asset utilization,” says Paul Kreder, principal at Deloitte Consulting LLP. “The demand for transparency is escalating rapidly and nothing is more truthful than data-based insights garnered from connected medical equipment. Deloitte is excited to work with Glassbeam in this endeavor to drive rapid and meaningful change in the healthcare sector.”

Glassbeam will work closely with Deloitte’s operating model transformation practice to help healthcare organizations build a foundation for profitable growth without sacrificing quality or service. The end goal is to enhance asset and capital efficiency, thereby improving financial performance with increasing revenue and expanding margins while delivering patient care at optimum levels.

“Our mission with Deloitte is to empower healthcare organizations drive sustainable return on assets on their vast fleet of medical equipment,” says Puneet Pandit, co-founder and CEO of Glassbeam. “Clinsights fits squarely into this mission. We look forward to multiple engagements with the Deloitte team and adding strategic value to their clients in the very near future.”