EQ2, LLC, a Charlotte, N.C.-based provider of CMMS software and service solutions for the healthcare sector, has forged a technical partnership with machine data analytics company Glassbeam, Inc. As part of the deal, EQ2 will ingest machine data insights from the Glassbeam platform into its HEMS (Hospital Equipment Management System) product to provide its customers with enhanced analytics to view device uptime and utilization reports powered by Glassbeam analytics.
CMMS software is the backbone of medical equipment maintenance market that is expected to reach $47.4 billion by 2023 from $28.9 billion in 2018, at a compound annual growth rate of 10.4%, according to a recent report published by research firm Markets and Markets. With the advent of IoT, connected machines will power the next generation and growth of “Smart CMMS” software, EQ2 officials say.
“At EQ2, we fundamentally believe that IoT will become pervasive throughout healthcare in years to come,” says Vishal Malhotra, chief technology officer, EQ2, LLC. “Partnering with Glassbeam will provide EQ2 and our customer base new ways of looking at data and will help them become more strategic in day-to-day operations managing their vast fleet of medical equipment, as well as help them make more effective long-term capital expenditure decisions.”
Highlights of the Glassbeam-EQ2 partnership will include:
- Streamlined navigation from service ticket to corresponding machine health and vice versa through Single Sign On integration
- Artificial intelligence/machine learning powered automation for service tickets and auto case opening in the EQ2 HEMS system, based on rules defined in Glassbeam Rules & Alerts engine
- Enhanced factual reporting on key service metrics like mean time to recover and mean time between failure by combining human entered data in EQ2 HEMS with machine data insights from Glassbeam
- Enhanced capital planning and budgeting by feeding actual utilization data from Glassbeam
- Integrating the Healthcare Enterprise Patient Care Device integration for bringing in utilization and system health data from biomed/patient care devices
“Extending machine data insights into CMMS systems is a no-brainer for the healthcare industry,” says Puneet Pandit, co-founder and CEO, Glassbeam, Inc. “Innovative companies like EQ2 with a wealth of healthcare domain expertise realize that the world of connected machines is forcing everyone to become more proactive and predictive with AI and ML. We look forward to show our joint solution to leading healthcare providers across the country soon.”