NEWTOWN, Pa., May 28, 2020 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading global provider of digital platform engineering and development services, today announced iSwarm™, a patient engagement solution that uses the power of social media to speed up clinical trial candidate identification, recruitment and pre-screening qualification, has been named a recipient of Microsoft Corporation's 2020 Health Innovation Awards.
The awards recognize health organizations and their technology solution partners for using Microsoft's technology solutions in innovative ways that help enable personalized care, empower care teams, improve operational outcomes, protect health information and ultimately reimagine healthcare. The 2020 winners are impacting the industry by creating breakthrough solutions that empower health and life sciences organizations, while meeting global, local and industry-specific compliance and security standards.
EPAM's iSwarm, received top honors at the Microsoft Corporation's 2020 Health Innovation Awards, in the 'Improve Operational Outcomes' category. iSwarm uses natural language processing and sentiment analysis technology to assess social media conversations, identify and qualify audiences across key adoption stages and enable hyper-targeted consumer engagement.
"It's more important than ever to leverage advanced technologies, like artificial intelligence, to create value and enable clinical trial advancements in healthcare," said Greg Killian, North American Life Sciences Business Unit Leader for EPAM. "We're thrilled to be recognized by Microsoft for this prestigious award. Our innovation is driven by a passion to connect patients and caregivers with therapies that help improve lives. When a solution like iSwarm can positively affect the quality of life for a patient, that's the ultimate reward."
Traditionally, clinical trials fail for a variety of reasons, including the inability to recruit enough participants to meet minimum trial requirements. In fact, nearly one-third of clinical trial budgets are spent on patient recruitment and enrollment,i but 37% of trials fail to meet enrollment targets, and more than 10% never enroll a single patient.ii By integrating iSwarm with Microsoft Azure Cognitive Services, healthcare and life science organizations can use the power of social media to significantly accelerate the identification, qualification and recruitment of clinical trial participants.
"During this both challenging and transformational time in the healthcare industry, organizations are using technology to profoundly impact how they deliver care, evolve business operations, and help people," said Patty Obermaier, Microsoft Vice President of U.S. Health and Life Sciences. "This year's Microsoft Health Innovation Award recipients are advancing the goals of improved patient engagement and care coordination through their innovative use of Microsoft devices, platforms and cloud and AI services."
Nominations were submitted by health providers, payers, pharmaceutical and life science organizations, and public and private health institutions across the world for applying Microsoft technology to create transformative and highly-effective innovations. An esteemed panel of industry experts selected this year's winners based on how their innovations represented a forward-thinking development or implementation of a solution that is delivering groundbreaking results and producing better health outcomes for more people. Recipients will be highlighted on the Microsoft in Health blog at www.microsoft.com/health.
To learn more about EPAM's iSwarm, visit https://solutionshub.epam.com/solution/iswarm.
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its 'Engineering DNA' and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM's global teams serve customers in more than 30 countries across North America, Europe, Asia and Australia. As a recognized market leader in multiple categories among top global independent research agencies, EPAM was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013 and was the only IT services company featured on Fortune's 100 Fastest-Growing Companies list of 2019. Learn more at www.epam.com and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
i "Web-Based Patient Recruitment: Best Opportunity to Accelerate Clinical Trials," Cutting Edge Information, Durham, NC
ii Impact Report, Tufts Center for the Study of Drug Development, Vol. 15, No. 1, Tufts University, 2013
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SOURCE EPAM Systems, Inc.