OneMedNet Revolutionizes Medical Data Curation with AI Technology

OneMedNet Revolutionizes Data Curation with AI, Boosting Efficiency up to 5X - OneMedNet (NASDAQ:ONMD)

MINNEAPOLIS, Aug. 09, 2024 (GLOBE NEWSWIRE) -- OneMedNet Corporation ONMD ("OneMedNet" or the "Company"), the leading curator of regulatory-grade Real World Data (RWD), has successfully integrated its proprietary AI technology into its data curation process, ensuring rapid and precise de-identification of patient data. This innovation, coupled with other changes undertaken by the Company, has significantly reduced OneMedNet's operational costs, enabling the company to process vast amounts of clinical data in minutes rather than hours. Additionally, OneMedNet can now deliver longitudinal clinical data and images to Life Science organizations up to five times faster than before, as measured from the end-to-end data curation process, significantly expediting delivery. "The integration of AI into our de-identification processes not only enhances our data privacy but also significantly boosts our operational efficiency, allowing us to quickly provide high-quality, de-identified datasets to our customers," stated Aaron Green, CEO & President of OneMedNet. "Furthermore, AI has enabled us to respond to sales inquiries much faster, improving our customer service and overall business performance." OneMedNet's AI-driven de-identification process is a critical component of the company's iRWD™ platform, which is already recognized for its ability to manage diverse clinical data, including electronic health records, laboratory results, and medical imaging. With the added layer of AI, OneMedNet is setting a new standard for how healthcare data is curated, offering unparalleled accuracy and speed in delivering regulatory-grade, de-identified datasets to its customers. About OneMedNet Corporation OneMedNet provides innovative solutions that unlock the significant value contained within the Real-World Data ("RWD") repositories of over 1,400 healthcare system and provider sites that currently comprise its iRWD™ network. OneMedNet's proprietary iRWD™ platform provides secure, comprehensive management of diverse clinical data types, including electronic health records, laboratory results, and uniquely, medical imaging. Employing its robust iRWD™ platform, the Company securely de-identifies, searches, and curates the clinical data, bringing a wealth of internal and third-party research opportunities to its drug, medical device and imaging/diagnostic AI development customers. OneMedNet's platform is designed to meet the clinical requirements necessary across various domains, including but not limited to rare diseases, oncology, and cardiology. The Company is committed to delivering precise and robust research support services that span the entire continuum of care. This commitment is a cornerstone of OneMedNet's strategy to enhance patient outcomes and help pave the next wave of healthcare innovation. For more information, please visit www.onemednet.com. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of OneMedNet; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur. OneMedNet Contacts: Stephen Kilmer, Investor Relations Phone: 647.872.4849 Email: [email protected] Michael Wong, Director of Marketing Phone: 800.918.7189 Email: [email protected] SOURCE: ONEMEDNET CORPORATION Market News and Data brought to you by Benzinga APIs

OneMedNet enhances data curation with AI technology By Investing.com

MINNEAPOLIS - OneMedNet Corporation (NASDAQ:ONMD), a curator of regulatory-grade Real World Data (RWD), has announced the successful integration of artificial intelligence (AI) into its data curation process. This advancement has reportedly led to a significant reduction in operational costs and improved the speed of processing clinical data. The company can now de-identify patient data more rapidly and precisely, processing vast amounts of clinical data in minutes instead of hours. The integration has also increased the speed of delivering longitudinal clinical data and images to Life Science organizations, up to five times faster than previously possible. This efficiency gain is measured from the start to the end of the data curation process. Aaron Green, CEO & President of OneMedNet, stated, "The integration of AI into our de-identification processes not only enhances our data privacy but also significantly boosts our operational efficiency." OneMedNet's AI-driven de-identification process is a part of the company's iRWD™ platform, which manages diverse clinical data, including electronic health records, laboratory results, and medical imaging. With the addition of AI, OneMedNet aims to set a new standard in healthcare data curation, promising unparalleled accuracy and speed in delivering regulatory-grade, de-identified datasets. The company's iRWD™ platform is employed across more than 1,400 healthcare system and provider sites. It is designed to meet the clinical requirements necessary across various domains, such as rare diseases, oncology, and cardiology. OneMedNet is focused on enhancing patient outcomes and supporting the next wave of healthcare innovation. OneMedNet's CEO, Aaron Green, noted the increasing trend among medical device companies to utilize existing Real World Data (RWD), particularly medical imaging data, to support various development stages, including post-market surveillance. The company's iRWD™ network, which includes over 1,400 healthcare system and provider sites, provides diverse clinical data management, including unique medical imaging. These recent developments highlight the increasing importance of data in the healthcare sector. As OneMedNet Corporation (NASDAQ:ONMD) leverages artificial intelligence to revolutionize its data curation process, the company's financial metrics and market performance provide a broader context for understanding its current position. According to InvestingPro data, OneMedNet has a market capitalization of $28.27 million, reflecting the market's valuation of the company. Despite the technological advancements and operational efficiencies, the company's revenue over the last twelve months as of Q4 2023 stands at $1.02 million, showcasing a decline of 11.37%. The financial health of OneMedNet is further illuminated by its gross profit margin, which was reported at -12.52% for the same period, indicating challenges in maintaining profitability. This is in line with an InvestingPro Tip highlighting the company's weak gross profit margins. The stock's performance has shown significant fluctuations, with a remarkable 84.17% return over the last three months, yet a stark contrast is seen in the one-year price total return, which plummeted by 91.44%. This volatility aligns with another InvestingPro Tip that points out the stock's high price volatility. Investors seeking a deeper dive into OneMedNet's financials and market performance can find additional insights and tips on InvestingPro, which currently lists 11 InvestingPro Tips for ONMD, providing a comprehensive analysis of the company's stock behavior and financial health.