15 June 2021 | News
Application filed under Patent Cooperation Treaty to enable marketing in over 61 countries
Medikabazaar's AI and ML-powered hospital inventory management and forecasting software application, VIZI, has been granted a national patent for system and method for inventory management in hospitals. Medikabazaar has also filed an international patent application under the Patent Cooperation Treaty (PCT), which would give patent protection to VIZI in many countries. With this, Medikabazaar would be able to exercise its patent in more than 61 countries and market the product to customers across these nations.
Vivek Tiwari, CEO, Medikabazaar, said, "This will allow us to deliver our path-breaking products and solutions to customers around the globe. The receipt of the patent encourages us to continue to research the application of AI to products and new domains to develop tools to leverage technology to transform the healthcare industry."
Since its launch in 2019, VIZI has transformed inventory management by enabling hospitals to plan procurement of supplies by providing an actionable purchase list of products with safety or reserve stock required to avoid stock out situations and the level of safety stock with colour indicators.