Singular Health Group (ASX:SHG) completed the technical proof of concept of the first phase of the memorandum of understanding with Provider Networker Solutions and confirmed it has successfully demonstrated all conditions of the proof of concept, according to a Friday Australian bourse filing.
Singular Health used its Medical File Transfer Protocol to search, retrieve, share, and analyze medical images from multiple remote facilities in minutes compared to hours or days when using manual processes.
It demonstrated the audit trail and use of a third-party AI model for the quantitative analysis of medical images and report generation.
On completion of the first phase, it is preparing for the second phase of its pilot project, focusing on planning and budgeting. The commercial pilot will take place in the US as part of the third phase, Singular Health's chief executive Denning Chong said.
US-based Provider Network Solutions manages the provision of healthcare for over 3.7 million primary and specialty plan members.
Singular Health's shares fell almost 2% in recent trading on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.