CompuGroup Medical launches AI initiative improving healthcare IT products and solutions

CompuGroup Medical launches AI initiative improving healthcare IT products and solutions

• CGM AI Initiative launched in the second quarter
• More face-to-face time with patients for doctors and healthcare practitioners
• Strengthening R&D and business operations with high data protection standards
• Continued investments into new technologies for the benefit of our customers
• CGM well prepared for next level digital development in healthcare IT

Koblenz. CompuGroup Medical SE & Co. KGaA (CGM), one of the world's leading e-health providers, has launched an initiative in the second quarter to further extend the usage of Artificial Intelligence (AI), machine learning and large language models across the group. While already today several of CGM’s products and solutions are relying on AI based functions, there is significant potential for AI to shape and change the healthcare IT sector in the coming years. The benefits for doctors, healthcare practitioners, and patients are significant. Core AI fields for CGM customers range from chronic care management, prevention, diagnostics, population health management to improving operations and resource management, a key topic for doctors. Studies show that doctors and their teams spend 3-4 hours of administrative work for every hour actually dedicated to the wellbeing of their patients – AI based solutions will further reduce the inefficiencies in the healthcare ecosystem for the benefit of patients.

AI has been pushed as a key management priority at CGM. The team is focusing on the increasing use of Artificial Intelligence in products and solutions, to further enable the intelligent use of data while maintaining high data protection standards. At CGM, the new AI technology will be integrated into relevant areas and processes, from software development towards support processes, including customer service functions and administrative tasks.

When announcing the figures for the first half year 2023, CEO & CFO Michael Rauch described AI as a differentiating factor that will shape and change the healthcare IT sector in the coming years. Wisely used and safeguarding data privacy, AI offers significant advantages for doctors, hospitals, pharmacies, and patients. “The majority of patients trust Artificial Intelligence to support the doctor and would be willing to share their data for this purpose. We will help our customers making the difference, enabling them to spend more time with their patients, having sophisticated tools on their hands to improve healthcare.” says CEO & CFO Michael Rauch. “CGM is fully committed to deliver on our mission: We create the future of e-health.”

For the first half of 2023, CompuGroup Medical reported strong results across all segments. Group revenue increased by 15 % to EUR 595 million, with organic growth at 12 % compared to prior year. CGM continues to invest into research and development to drive innovation and to advance technology in the healthcare sector and confirms its guidance for 2023 with expected organic growth in group revenues of around 5 %.

Financial key figures

 

The full half-year financial report is available on the company's website at www.cgm.com/ir-publications.

About CompuGroup Medical SE & Co. KGaA

CompuGroup Medical is one of the leading e-health companies in the world. With a revenue base of EUR 1.130 billion in 2022, its software products are designed to support all medical and organizational activities in doctors’ offices, pharmacies, laboratories, hospitals, and social welfare institutions. Its information services for all parties involved in the healthcare system and its web-based personal health records contribute towards safer and more efficient healthcare. CompuGroup Medical’s services are based on a unique customer base of more than 1.6 million users, including doctors, dentists, pharmacists and other healthcare professionals in inpatient and outpatient facilities. With locations in 21 countries and products in 60 countries worldwide, CompuGroup Medical is the e-health company with one of the highest coverages among healthcare professionals. More than 9,200 highly qualified employees support customers with innovative solutions for the steadily growing demands of the healthcare system.