DataUnion Foundation is excited to announce a formal partnership with nCight, a DataUnion working to collect & classify medical images from endoscopy for medical device companies to tap into and create more sophisticated medical devices from.
At its core, nCight aims to take data from everyday activities of healthcare and transform into something of value for both independent surgeons & businesses; opening the doors for the evolution of healthcare. The idea centres around giving doctors the ability to licence the insights gleaned from de-identified medical images.These images, which are annotated and verified by surgeons provide valuable information to medical device companies interested in developing new technologies. The process preserves privacy through compute-to-data technology.
The AI Image recognition market size is set to grow by 3.56 billion USD from 2021 to 2026 – with R&D expedited by government programs and private organisations. However, for the first time in the history of the United States, the number of employed physicians outnumber independent physicians. Orthopaedic surgeons have been able to withstand the consolidating pressures largely due to access to ancillary streams of revenue such as ambulatory surgery centres and owning PT and advanced imaging (e.g. MRI).
But these additional income streams do not offer enough financial support for surgeons, with the number of private practice orthopaedic surgeons declining by over 30% over the last 20 years. Independent physicians drive innovation and represent an important part of the healthcare system.
It was through the efforts of talented, independent surgeons that pioneered advances in pain management and anaesthesia to make outpatient procedures safe & cost effective – saving the healthcare system millions of dollars. It is in the public’s best interest to keep physicians independent – and nCight exists to support that mission.
Data aggregation requires a front-facing portal – DataUnion Foundation will help nCight develop their own DataUnion app where, doctors/physicians will verify different properties of images (i.e, “is it a shoulder or knee?”) in order to create an enriched dataset that is used in training algorithms to detect certain patient knee or shoulder conditions automatically. This will not become a fully automated process, as humans are still required in the validation process.
Such a business model provides an incentive for implant producing companies to purchase access to this enriched dataset because it is exactly the sort of information they need to know in order to build better products.
Additionally, it will serve as a source of income for the independent physicians who are either uploading or verifying the images – a win-win situation facilitated via Ocean Protocol’s compute-to-data in exchange for financial compensation; a step towards an open & fair data economy!
In close collaboration with Algovera.ai, this three partner constellation will accelerate the growth and development of nCight’s platform, providing the necessary infrastructure, expertise and strategic connections required for long-term success and global adoption.
A platform looking to create a network of DataUnions around the world that allow individuals, organisations and companies to work together to upload, annotate and verify data.
Instead of them simply selling this data, the union can then allow algorithms to be trained on the data for a fee. The fees generated, and the value created by the DataUnion can then be shared with all participants involved in the process.
We are focused on creating a new data economy, one that is fair, accessible and equitable for all participants who want to get involved. If this is a mission you would like to get behind, then consider connecting with the Dataunion Foundation team on our Discord! We always welcome new faces, and are forever excited at the opportunity of collaborating with emerging, or already established, DataUnion’s.
We hope to connect with you soon!
nCight takes data from the everyday activities of healthcare and transforms it into something of value for both surgeons and businesses.