DeepRadiology aims to use blockchain-powered artificial intelligence to revolutionize healthcare. Here’s our review.
What Is DeepRadiology?
DeepRadiology, found online at DeepRadiology.com, is a blockchain-based platform that aims to offer a range of healthcare solutions worldwide.
The core goal of the platform is to apply the latest image analysis deep learning algorithms to improve radiology and healthcare services.
The company’s partners and customers include multiple healthcare institutions in the United States and worldwide, including level 1 trauma centers, general hospitals, outpatient imaging centers and small networks, rural facilities, and more.
A token sale for DeepRadiology tokens is taking place from February to April 2018. DeepRadiology will use funds raised during the token sale to facilitate an international rollout of its deep learning radiology software.
What Problems Does DeepRadiology Seek To Solve?
DeepRadiology aims to solve crucial problems in the world of radiology and healthcare.
Namely, due to the aging population and increased utilization and complexity of imaging studies, there’s a growing shortage of qualified radiologist physicians to provide interpretation of those studies.
Radiology is also affected by a small but significant error rate in the interpretation of those studies. This is one of the reasons why human error is the third leading cause of death in healthcare after cardiovascular disease and cancer.
Finally, the costs of these services – and similar services – are increasingly straining healthcare budgets to the point of unsustainability.
Many have tried to solve these problems with deep learning algorithms. DeepRadiology wants to expand that concept by placing deep learning algorithms on the blockchain.
How DeepRadiology Medical Imaging/Radiology Health Token Works
Deep learning algorithms allow computer software to learn from data in certain visual recognition tasks – like radiology.
DeepRadiology was founded by some of the individuals who pioneered deep learning algorithm usage in radiology. The deep learning revolution began in 2012, for example, and DeepRadiology was founded soon afterward.
By November 2017, the company released a report of the first AI system capable of interpreting computed tomography (CT) scans, or CAT Scans, with performance levels greater than that of a human radiologist.
Today, that system is available in the form of DeepRadiology’s software. The company now seeks to expand that software to interpret all types of medical scans.
A radiologist takes 3 to 4 minutes to interpret a simple CT scan of the head, on average. DeepRadiology’s software takes a fraction of one second. It also has a clinically significant miss (error) rate considerably lower than error rates for human radiologists.
In the United States, it costs a radiologist approximately $60 to provide image analysis services. It costs $0.002 using DeepRadiology’s software.
DeepRadiology wants to expand its software to analyze far more than just CT scans and CAT scans. The company wants to use their software to interpret other major medical CT scan types as well as magnetic resonance imaging (MRI), plain x-rays, ultrasounds, mammography and nuclear medicine images, and more.
DeepRadiology’s products are already being integrated at hospitals and other imaging facilities across the United States.
How Does DeepRadiology Use Blockchain?
Up to this point, we haven’t mentioned much about blockchain. Why does DeepRadiology need blockchain technology? How will DeepRadiology use blockchain? The company is integrating blockchain in order to accomplish three primary goals:
- International expansion to healthcare institutions worldwide
- To support, incentivize, and expand the community of DeepRadiology developers, users, and other members of the ecosystem
- To create a “revolutionary service that will provide free medical care to any individual using distributed autonomous organization type structure” to reduce costs and improve security in healthcare
The ultimate goal of DeepRadiology is to use blockchain and AI to make products that deliver life-saving technologies at the lowest possible rates.
Who’s Behind DeepRadiology?
DeepRadiology’s team includes a group of foremost experts in the deep learning field. Key members of the team include Kim Nguyen, MD, CEO and Co-Founder, who previously worked as Assistant Professor of Radiology at the UCLA School of Medicine. She was also a founding member of a large teleradiology company that later had an IPO on the NASDAQ. Other experience includes launching a successful nationwide telemedicine company – in addition o being an expert radiologist.
Kim Nguyen co-founded the company with Robert Lufkin, MD, who is now the Principal Medical Architect on the platform. Rob was previously Professor of Radiology at UCLA School of Medicine. He has written 14 textbooks and over 300 scientific papers in addition to having a lifelong interest in artificial intelligence.
DeepRadiology’s team includes the inventor of the actual deep learning technology, Professor Yann LeCun, who also works as Director of Artificial Intelligence for Facebook. There’s also Robert Rankin (Former CEO of Deutsche Bank Asia Pacific Region), who joined the team as Chairman.
The company was formed in Delaware as a corporation in July 2015.
To fund their software, DeepRadiology raised millions of dollars in venture capital.
The DeepRadiology ICO Token Sale
DeepRadiology is selling an ERC20 token built on the Ethereum blockchain. That token will be used to facilitate payments on the international DeepRadiology network. Any payments made with DeepRadiology tokens will be eligible for a 5% discount.
The token pre-sale is scheduled for February 28 to March 15, with the main token sale scheduled for March 16 to April 16.
Products will begin to be deployed to international institutions on June 1, 2018. Deployment of products to US healthcare institutions began in January 2018.
There’s a fixed supply of 200 million DeepRadiology tokens. The price of the token will be set at 0.0005 ETH during the pre-sale, rising to 0.001 ETH during the main sale. That works out to about $0.50 per token during the pre-sale or $1 during the main sale.
Of the total supply of 200 million tokens, 100 million are allocated for the crowdsale (99 million to the main sale and 1 million to the pre-sale). The remaining 100 million tokens are reserved for later use, including 20 million for team members, 10 million for advisors and early investors, 12 million for business development, and 8 million for R&D.
DeepRadiology aims to revolutionize worldwide healthcare with a blockchain-based deep learning system. That system is capable of processing images more efficiently, with a lower accuracy rate, than a human radiologist.
To facilitate the international rollout of their software, DeepRadiology is holding a token sale from February to April 2018. DeepRadiology tokens can be used to purchase services from the DeepRadiology platform at a 5% discount.
To learn more about DeepRadiology and their token sale, visit online toady at DeepRadiology.com.