Medikabazaar patents VIZI, an AI / ML-based inventory management, Health News, ET HealthWorld

Mumbai: Medikabazaar, a B2B online marketplace for medical equipment and supplies, announced that VIZI, an AI and ML-based hospital inventory management and forecasting software application, has been awarded a national patent for a system and method of inventory management in hospitals.

A statement released by the company informed that the grant of the patent is a testament to Medikabazaar’s success in identifying emerging technological opportunities and its strength in innovative research and technology to take advantage of these opportunities for the benefit of healthcare organizations. health,

The company also filed for an international patent under the Patent Cooperation Treaty (PCT), which would grant patent protection to VIZI in many countries. With this, Medikabazaar could exercise its patent in more than 61 countries and market the product to customers in those countries, the statement added.

Speaking in this regard, Vivek Tiwari, CEO of Medikabazaar, said, “We are pleased that VIZI’s cutting edge technology that uses AI / ML to enable key hospital decision makers to make smart decisions has achieved a patent in India. To open up new opportunities, we have also applied for an international patent and are sure that it will be granted in due course. This will allow us to deliver our revolutionary products and solutions to customers around the world. Receiving the patent encourages us to continue researching the application of AI to products and new fields to develop tools to leverage technology to transform the healthcare industry. “

Since launching in 2019, VIZI has transformed inventory management by enabling hospitals to plan for supplying supplies by providing a workable purchasing list of products with required safety or reserve stock to avoid out-of-order situations. stock and safety stock level with color indicators. Hospitals do not need to take extra steps for data entry to use this app. VIZI enables hospitals to source supplies at the best prices from a single point of contact, Medikabazaar, rather than source from a variety of suppliers, a task that can be daunting and often unrewarding, the statement said.

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