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MDI allows clinicians to provide medication reviews in just a few minutes instead of hours
Many people who live with conditions are what are know as "polypharmacy patients," meaning they have to take five or more medications to treat one or more conditions. Unfortunately, the current medication management solutions focuses on one-to-one adverse drug reactions, and aren't effective for these patients, who are at high-risk population for adverse drug reactions (ADRs).
ADRs are the fourth leading cause of death in the US and lack of sufficient medication management systems costs healthcare systems $528 billion per year. MDI Health was founded in 2019 to combat the increasing number of deaths and costs associated with this patient population.
"When I first learned about the frequency of ADRs, and the alarming costs of non-optimized medication therapy, I was shocked there wasn’t an automated, hyper-personalized solution that focused on all elements of the patient," Avishai Ben-Tovim, the company's co-founder and CEO, told VatorNews.
"Without an effective solution for polypharmacy, conducting a comprehensive medication review before prescribing is not feasible. Therefore, in many cases, physicians use one-size-fits-all approach, which leads to sub-optimized medical outcomes."
Together, with his co-founders Dr. Dorit Dil Nahlieli, who has expertise in clinical pharmacology and drug safety, and Yuval Kalev’s, who has years of experience in software development, the three founders set out to create what they saw as the missing piece in the medication management equation.
Now they will be able to expand that to many more patients as, earlier this week, the company announced a $20 million Series A funding round led by Intel Capital with participation from Maverick Ventures Israel and existing investors Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures and former SVP of Optum Richard Montwill. This latest funding brings its total raised to $26 million.
MDI’s AI-powered platform gives clinicians the ability to provide comprehensive medication reviews in minutes instead of hours.
The company's Artificial Pharmacology Intelligence solution can perform multi-dimensional context-based analyses of thousands of pharmacological and patient-specific parameters, to autonomously optimize personal medication regimens. The outcomes of the system are hyper-personalized medication recommendations for the specific individual based on their unique parameters, such as age, sex, and lab results.
The company's typical customers are health plans and value-based providers and MDI’s main use cases are population health solutions for the identification of high-risk patients, quantification of the program impact and empowering clinical teams to analyze more patients, while making sure no clinical opportunities are missed. The company is currently serving hundreds of thousands of patients.
The Series A funding will allow MDI Health to grow its team, which currently consists of 40 employees, specifically its U.S. and Israeli R&D teams, as a way to drive product development.
In addition to the fundraising announce, the company also announced that Intel Capital Investment Director Yoni Greifman has joined its board of directors.
"As a board member, Yoni will help advise the company as we grow our U.S. and Israeli teams, expand our offerings, and scale our operations," said Ben-Tovim.
"At MDI Health we are driven by our mission to help end the preventable suffering of patients caused by an outdated one-size-fits-all approach to medication treatment. If we achieve our goal, every healthcare system will use MDI as the main platform for managing medication treatment throughout the continuum of care, which will not only save costs but save patients’ lives."
(Image source: mdihealth.com)
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