Glassbeam, Inc., the premier machine data analytics company, announced that it has entered into a technical collaboration with EQ2, LLC, a leading CMMS (Computerized Maintenance Management System) vendor for the healthcare market. As part of the partnership, EQ2 will ingest machine data insights from the Glassbeam platform into its HEMS® product (Hospital Equipment Management System) to provide its customers 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 CAGR of 10.4 percent, 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. The business impact will be significant as these deployments will predict machine performance based on critical issues recognized in machine log data, highlight anomalies in critical KPIs, forecast utilization, and report on poor operator training and related metrics. Overall, CMMS software powered by data driven insights from machine data will change the industry paradigm forever in years to come.
“At EQ2, we fundamentally believe that IoT will become pervasive throughout healthcare in years to come,” said 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.”
Key highlights of the joint Glassbeam-EQ2 solution will include:
- Seamless navigation from service ticket to corresponding machine health and vice versa through SSO (Single Sign On) integration
- AI/ML 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 MTTR (Mean Time To Recover) and MTBF (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
- IHE PCD 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,” said 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.”