Medisafe, a startup developing a personalized medication management platform to assist patients continue high of their prescriptions
Medisafe, a startup developing a personalized medication management platform to assist patients continue high of their prescriptions, these days declared it’s raised $30 million. the corporate says this new investment can modify it to expand its solutions whereas fast revenue, VentureBeat reported.
According to a review in the Annals of Internal Medicine, 20% to 30% of medication prescriptions are ne’er filled, and some 50% of medicines for chronic sickness aren’t taken as prescribed. This lack of adherence is calculable to cause approximately 125,000 deaths and to cost the U.S. health care system between $100 billion and $289 billion per year.
In 2012, Medisafe cofounders Omri Shor and Rotem Shor featured a family health emergency. because of a miscommunication regarding his medication schedule, their father accidentally took an additional dose of endocrine for his diabetes. In an endeavor to handle this type of mistake and stop it from happening within the future, the brothers created Medisafe, which helps manage prescription schedules by investing in AI and large data.
Medisafe employs what it calls “digital drug companions” to confirm medication takers follow through with their prescriptions. when a patient enters a medicine into Medisafe’s smartphone app, the app guides them through a method that entails grouping unleash forms and serving to them through volumetric analysis schedules. power-driven by Medisafe’s prognosticative AI engine — Just-in-time-Interventions (JITI) — the app’s content changes because the patient matriculates through medical aid and recovery, delivering directions on the way to administer medication, assessing eligibility for backing programs, and ordering refills, yet as collecting info for suppliers via surveys.
Medisafe will email and text patients to inform them to require their medications on time. Moreover, the platform can target “rising-risk” patients with analytics and insights supported a period of time behavioral assessments, boosting adherence up to 20%.
“With AI integration, users’ friends and physicians may be alerted if a user has lost doses, once specific steps haven’t been completed, or when a patient has some reasonably difficult event throughout their journey,” a representative told VentureBeat via email. “Through [Medisafe’s] platform, the corporate delivers average adherence rates by users of 86%, well on top of trade norms of 50%. Billions of flourishing medication doses are managed through Medisafe’s platform, preventing quite 500,000 probably harmful drug-to-drug interactions.”
On the backend, Medisafe’s in-app Care instrumentation permits clinicians to remotely connect with patients if they have further assistance. and therefore the company’s creative person product provides a summary of the patient census, compliance configuration settings, access to program reporting, and integrations with different merchandiser data.
While Medisafe directly competes with Walmart’s CareZone, search Apotheke’s MyTherapy, TrialCard’s Mango, and Healthprize, it claims to be among the most important medication management platforms within the world, with over seven million registered users. Over the past eight years, through partnerships with company corporations as well as Merck, Medisafe has collected information of over four billion indefinite-quantity behaviors informing JITI.
“Today’s investment permits Medisafe to expand holistic treatment support for patients to impact behavior modification and ultimately outcomes. Medisafe is endlessly advancing its technology to fulfill the dynamic wants of patients managing complicated therapies,” Omri Shor same in an exceeding press release.
Sanofi Ventures and Alive Israel HealthTech Fund light-emitting diode Medisafe’s series C funding declared today, with participation from Leumi Partners, Menorah Mivtachim, and agreement Business Group, yet as previous backers Pitango Ventures, 7Wire Ventures, Merck Ventures, Octopus Ventures, Lool HealthTech, Triventures, and OurCrowd. It brings Medisafe’s total raised thus far to roughly $55 million. the corporate has headquarters in Israel and Boston, Massachusetts.
Copyright Notice: It is allowed to download the content only by providing a link to the page of our portal from which the content was downloaded.