LAS VEGAS, Oct. 18, 2024 /PRNewswire/ — Today the Coalition for Health AI (CHAI) advanced draft frameworks for how it will certify independent Assurance Labs and help to standardize the output of these labs that test Health AI models through CHAI Model Cards —  a kind of ingredient and nutrition label. The CHAI certification process and model card design are expected to be available by the end of April 2025, following a process of review and feedback by CHAI members, partners, and the public. 

“This has been a pivotal year for CHAI on our journey to help enable trusted independent assurance of AI solutions with local monitoring and validation. We are thrilled with the progress of our CHAI workgroups who represent a diversity of perspectives and expertise across the health ecosystem,” said Brian Anderson, MD, CEO of CHAI. “These frameworks for certification and basic transparency are building blocks of responsible health AI. They will help to streamline the path for AI innovation, build trust with patients and clinicians, and position health systems and solution innovators ahead of emerging state and federal regulations.”

CHAI certification of independent quality assurance labs

The draft CHAI certification program framework was created with the ANSI National Accreditation Board and several emerging quality assurance labs using ISO 17025, the predominant standard for testing and calibration laboratories worldwide. Among the requirements are mandatory disclosure of conflicts of interest between assurance labs and model developers, and the protection of data and intellectual property. This standard was also used by the Office of the National Coordinator for Health Information Technology (ONC) for the Electronic Health Record (EHR) certification program. Additionally, the certification program integrates data quality and integrity requirements derived from FDA’s draft guidance on the use of high-quality real-world data, CHAI testing and evaluation metrics sourced from the various working groups, and alignment with the National Academy of Medicine’s AI Code of Conduct.

“As a 35-year MedTech industry veteran, I have experienced years of frustration at the gaps in product development and governance practices between health delivery organizations and MedTech companies,” said Eric Henry, Senior Quality Systems and Compliance Advisor in the FDA and Life Sciences practice of King & Spalding. “I am encouraged by CHAI’s commitment to map its quality assurance laboratory guidelines to internationally recognized consensus medical device and healthcare standards. This effort will lead to a more harmonized view of what ‘good’ looks like in the evaluation of AI-enabled health technology across these two critical players in the healthcare ecosystem.”

CHAI Model Card, a Health AI “Nutrition Label”

The draft CHAI Model Card presents a standard template to provide a degree of transparency with key information to support the evaluation of AI solution performance and safety. The Model Card includes the identity of the developer, intended uses, targeted patient populations, AI model type, data types, key performance metrics, security and compliance accreditations, maintenance requirements, known risks and out-of-scope uses, known bias, and ethical considerations and third party information (e.g. relevant clinical studies). 

The Model Card was designed by a workgroup representing a range of stakeholders including regional health systems, EHR solution vendors, medical device makers, and health AI leaders and startups.

It was designed as a starting point for those reviewing AI models during the procurement process and for electronic health records (EHR) vendors who need to comply with the ONC Health IT Certification Program (HTI-1). CHAI completed an assessment of all of the HTI-1 requirements and gathered consensus recommendations from clinicians, health system organizational data custodians, and developers about what additional information should be included beyond the existing regulatory requirements.

“AI’s rapid advancement in healthcare is not just an opportunity — it’s a call to action. We must transform principles into tangible steps that can foster trust and accountability. A common, user-friendly applied model card can help serve as a powerful tool for clinicians, health systems, and patients alike,” said Christine Swisher PhD, VP Health Data Intelligence at Oracle Health and leader of the CHAI Model Card Workgroup.

“The rapid evolution of AI in healthcare has created a landscape that can feel unregulated and fragmented. CHAI’s efforts to introduce a standardized model card represent a crucial step toward ensuring transparency, safety, and trust in AI-driven clinical applications,” said Demetri Giannikopoulous, Chief Transformation Officer, Aidoc and CHAI applied model card workgroup member. “By establishing a common framework that aligns with federal regulations, we are moving beyond theoretical discussions and building the foundation for scalable, reliable, and ethical AI solutions that can be adopted across the healthcare ecosystem. This initiative ensures that every AI solution can be rigorously evaluated, delivering real value to clinicians, patients and healthcare organizations alike.”

The initial drafts of the certification program and model cards will be presented at the CHAI Global Summit at HLTH 2024.  CHAI will proactively engage stakeholders from across the healthcare ecosystem including patient advocates, under-resourced local health systems, and startups for additional feedback. To provide feedback, please use this assurance lab form and model card form.

About CHAI

The CHAI (Coalition for Health AI) mission is to be the trusted source of guidelines for Responsible AI in Health that serves all. It aims to ensure high-quality care, foster trust among users, and meet the growing healthcare needs. As a coalition bringing together leaders and experts representing health systems, startups, government and patient advocates, CHAI has established diverse working groups focusing on privacy and security, fairness, transparency, usefulness, and safety of AI algorithms.

Press Contact:
Andrea Heuer
andrea@12080group.com
(917) 914-5563

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SOURCE Coalition for Health AI

LOS ANGELES, Oct. 18, 2024 /PRNewswire/ — The Plug Drink (“The Plug”), the leading plant-based recovery supplement brand focusing on liver health, is proud to announce the release of its new and improved website on its fifth year anniversary as a Company. The enhanced website has been months in the making, and it has finally made its debut alongside the public release of the Company’s 2018 clinical study on its namesake formula: The Plug Blend.

Revamped Science-Focused Website:

The Plug’s new website launched today with an improved appearance focusing on its blend of South Korean herbs and modern science. The website is now more science-based with a newer focus on The Plug’s ingredients and how they benefit liver health through scientific references from the medical community. Additional enhanced aspects of the site include:

The first public appearance of the Company’s 2018 clinical study, showcasing that The Plug decreases AST and ALT enzymes, LDL and total cholesterol numbers, and BAC levels200+ medical professional (doctors, nurse practitioners, and physician associates) recommendations, who are actively sharing and endorsing the brand’s products, from their partnership with Frontrow HealthHSA/FSA payments are now accepted and allow customers to save money and support their liver health on a consistent basis, from their partnership with Sika HealthScientific articles and journals from the medical community on the 13 plant-based ingredients from the The Plug’s proprietary formula, The Plug Blend (10.83g)Improved rewards program, where long-term customers can receive store credit for future purchases, along with be the first to hear updates, get first access to new launches such as the brand’s upcoming 30-day liver health guide, and contribute to product lines via direct feedbackBrand ambassador affiliate program, where customers and creators can earn commission on all referrals and enjoy exclusive access to future launches and promosLaunch of The Plug Combo, a power duo pack for those wanting both The Plug Drink and The Plug Pills for maximized liver supportCarbon-neutral shipping for climate-conscious individuals looking for more sustainable options, from the brand’s partnership with Shopify Planet

Customers will have more to see on the brand new website in the future, including weekly educational blogs on health and wellness along with the brand’s About Us page, which would highlight the Company’s five year journey. “I’m proud of all the progress that we’ve made within five years, not to mention our team for all the hard work they’ve put in to help make The Plug a reality and a success,” said Ray Kim, Co-Founder and CEO. “It’s hard for a startup to make it to five years, and we’re grateful for all the support we’ve gathered from our family, team, and customers. We look forward to continue building with our PlugFAM,” said Justin Kim, Co-Founder and COO.

Visit The Plug’s Revamped Science-Focused Website

Expansion into TikTok Shop:

In just three months, The Plug has extended into new reaches of their customer base by joining TikTok Shop earlier this year. The Company has already gained TikTok Star Shop badge status as well as 500+ affiliates. Currently, there are around 4,000+ creators on TikTok who have The Plug products in their shop. To further expand and optimize their brand ambassador affiliate program, The Plug partnered with Social Snowball to reach an even wider audience with 750+ affiliates currently on board. The Plug recently joined Pinterest as well, after a growing demand from their customer base.

2024 Inc. 5000 Achievements & Recognition:

The Plug ranked No.147 on the 2024 Inc. 5000, the most prestigious annual list of the fastest-growing and emerging private companies in America. Among these accolades, Inc. also recognized The Plug as No.25 in California, No.11 in Los Angeles, and No.6 in Food & Beverage, boasting a 2,380% revenue growth over the last three years. Previously in March, The Plug ranked No.6 on the annual Inc. 5000 Regionals: Pacific list with a growth of 2,060%.

The Plug 5.0 Formula, Superfruit Taste, & New Certifications:

In February, the brand revamped The Plug Drink’s formula for the fifth time, showcasing their dedication to innovation and consumer feedback. With this upgraded formula, the beverage features a higher herbal concentration of 10.83g and an improved taste profile that features apple, lemon, and ginger for a scent-free experience. The Plug also obtained long-awaited certifications: Non-GMO Project Verified, Gluten-Free, Kosher, and Plant-Based.

Future Plans:

2024 has been a busy year for The Plug, but they have no plans on slowing down. By the end of the year, they are aiming to release both 30-day and 60-day supplies of The Plug Pills in bottle form for those wanting to extend their daily liver support needs. “We had been thinking about creating The Plug Pills into a larger, more traditional format for quite a while now,” said Ray Kim. “We’re glad to take the leap into a different realm of innovation, and it makes us even more excited for what else is ahead of us, such as The Plug Blend in powder form. We hope that having a diverse range of product lines will bring more attention to not only our brand but to the importance of liver health.” With statistics of fatty liver disease on the rise (currently affecting 1-in-3 Americans), The Plug is determined to keep evolving and experimenting with different forms of ingestion in order for everyone to take care of their liver health in a simple and easy way. “We’re also in the midst of building our scientific advisory board and receiving expert guidance from our very own in-house scientists, doctors, nutritionists, and dieticians to further support our customers’ health journeys,” said Justin Kim. With new expansions and milestones achieved, The Plug is swiftly becoming a top advocate for liver health in the wellness industry as they forge ahead after their goal of becoming a household name.

About The Plug

The Plug, the leading all-natural liver health supplement brand, was founded in 2019 by brother-duo Ray and Justin Kim. After viewing South Korea’s advancement in the recovery industry and seeing the rise of Fatty Liver Disease (which currently affects 1-in-3 Americans), the brothers were determined to create a staple product for the American market. Enter The Plug Drink. The plant-based drink grew steadily in popularity with a heavy online presence and ultimately spread into retailers across California. With the introduction of The Plug Pills in 2023, Plug products have expanded into the retail channels of major American cities with the help of partnerships such as KeHe Distributors. The brand continues to grow and extend its reach, fulfilling its mission of educating consumers on the importance of liver health.

Press Contact:
Justin Kim
info@theplugdrink.com

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SOURCE The Plug Drink

The omnipresent platform redefines how the $5.9T industry operates and manage stakeholders

VANCOUVER, BC, Oct. 18, 2024 /PRNewswire/ — MyFO, the fastest growing platform for family offices and the wealth management professionals who service them, has announced the successful closing of its oversubscribed $3.5M Seed funding round, led by Rhino Ventures. The platform simplifies and organizes financial lives by creating a comprehensive family office platform that consolidates data, documents, and stakeholder management. The new injection of funds will be used to scale its operations to meet growing demand, enhance its product offerings, and expand its team.

The family office industry is growing at a substantial pace – according to recent reports, the number of family offices worldwide has surpassed 7,000, managing assets in excess of $5.9 trillion, with North America leading with over 1,682 family offices identified in the last year and yet it faces challenges due to outdated systems and fragmented technology. Predicted to generate revenues exceeding $54.7 billion by 2032, the demand for more efficient, integrated solutions is clear. However, traditional methods often result in high cost and inefficiencies, with annual expenses reaching up to $1 million.

MyFO is addressing these issues with a platform that’s designed to be extremely secure and user friendly. While many tech companies are joining the AI-hype, MyFO remains focused on its goal of thoughtful innovation. Although the platform uses the advanced technology for tasks such as data ingestion, its primary goal is to deliver a secure and intuitive solution tailored to the unique needs of family offices, particularly those with heightened concerns about privacy and data security.

“Our mission is to transform how family offices operate by providing them a platform that balances cutting-edge technology with a deep understanding of our clients’ needs,” said Simrang Kang, CEO and Co-Founder of MyFO. “We’ve seen firsthand the challenges faced by family offices using outdated systems, and our goal is to streamline their operations while ensuring their data remains secure as it is paramount to them.”

MyFO is the first tool to offer an omnipresent, end-to-end platform that integrates all aspects of family office management into one dashboard – designed to be both comprehensive and user-friendly. MyFO’s core features include an intuitive user interface, state-of-the-art analytics, scenario modeling tools, and benchmarking capabilities designed to support strategic decision-making. 

“MyFO is redefining how family offices manage their most cumbersome tasks by providing a streamlined, efficient solution. With only 16% of family offices currently using a data aggregation tool, there is a clear gap in the market, highlighting both a lack of adequate solutions and significant dissatisfaction with existing options,” said Jay Rhind, Partner at Rhino Ventures. “In such a niche and specialized category, the experience and vision of the founding team are paramount. Jon and Simran bring invaluable insights from their deep experience in the family office industry, which positions them uniquely to build the control hub for family offices. As they continue to innovate and expand the platform, we believe MyFO is poised to become the go-to solution, offering an evolving suite of services that will unlock new opportunities for families, wealth managers, and investors alike.”

Traditional client onboarding can take up to 18 months, but with MyFO, it can be completed in just a few hours. The platform seamlessly integrates real-time data from over 20,000 sources—including banks, brokerages, and private equity. MyFO provides a holistic view of a client’s assets and enhances wealth management professionals’ ability to track assets, manage documents, and offer advice.

About MyFO

MyFO is the fastest growing platform for family offices and the wealth management professionals that service them. The omnipresent, end-to-end platform is integrated with over 20,000 financial institutions across North America. MyFO redefines wealth management with its precise and efficient tools that makes asset oversight easier and improves decision-making for discerning individuals. MyFO was co-founded by Simran Kang and Jon Ricci, industry veterans committed to transforming complex financial processes into effortless interactions. For more information on MyFO, please visit https://www.myfo.tech/.

Media Contact:
Liang Zhao
Vansary for MyFO
LZ@vansary.com
505-720-6933

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SOURCE MyFO