MedAware Overview
MedAware has developed a medication safety monitoring platform that identifies patient- and provider-specific risks that might otherwise be missed by existing tools and systems. MedAware’s AI engine is used to provide a personalized look at the appropriateness of a patient’s medication therapy at each stage of their treatment journey, identifying prescribing anomalies that could put the patient, provider, care team, and health institution at risk. MedAware’s AI engine is powered by advanced machine-learning algorithms and outlier-detection mechanisms similar to those trusted by financial institutions for monitoring fraud detection.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
/PRNewswire/ -- Ballad Health, the leading healthcare provider in the Appalachian Highlands, has begun leveraging MedAware's AI-powered medication safety...
Ballad Health, a leading healthcare provider in the Appalachian Highlands, has integrated MedAwares AI-powered medication safety monitoring platform into its Epic pharmacy workflow. This partnership, announced in July 2023, aims to enhance patient safety by providing real-time, personalized risk monitoring for acute care patients. The platform allows pharmacists to proactively address medication-related risks, improving patient outcomes and operational efficiency. MedAwares technology has enabled Ballad Health to act on over 70% of identified patient risks, significantly surpassing previous systems. This collaboration highlights Ballad Healths commitment to innovation in rural healthcare and medication safety.
Partners
growth-positive
MedAware Validates an Emerging Risk to Patient Safety - Physician Burnout and Lack of Experience Linked to Prescription Errors
MedAware, a leader in AI-enabled decision support and patient safety solutions, released the results from a study showing that sleep-deprived, overworked junior physicians are at increased risk of erroneous prescribing and jeopardizing patient safety. The study highlights the need for AI-driven, personalized decision support to mitigate the risks of medication errors. MedAwares platform, which boasts an 85% accuracy rate, acts as a safety layer within electronic health records (EHRs) and detects outlier prescribing behavior. The study found that physicians with high workloads were 8 times more likely to make prescribing errors, and continuous back-to-back shifts were associated with 2 times the risk of error. MedAware emphasizes the importance of incorporating probabilistic and personalized decision support tools to improve patient safety.
Customers
growth-positive
Israeli tech catches medical mistakes before they happen
A machine learning-based patient safety solution from MedAware flagged potential errors and adverse drug events in the records of patients treated in outpatient clinics. The system performed well in identifying medication-related errors and implementing it could result in substantial cost savings. Prescription drug errors result in healthcare costs estimated at more than $20 billion annually in the United States.
Customers
growth-positive
Harvard Researchers Find Significant Clinical Impact and Savings with MedAware's Patient Safety Platform
MedAware, a developer of AI-based patient safety solutions, has published a study validating the clinical impact and cost savings of its machine learning-enabled clinical decision support platform. The study found that 70% of MedAwares AI-enabled clinical interventions would not have been generated by existing tools. If the system had been operational, it could have saved over $1.3 million in direct healthcare-related costs for adverse events potentially prevented in Massachusetts General and Brigham and Womens Hospitals outpatient clinics. The study analyzed outpatient data from two academic medical centers and found that MedAwares warnings were accurate, clinically valid, and would not have been flagged by existing decision support systems. The study highlights the potential of MedAwares platform to improve patient safety and drive cost savings in healthcare systems.
Customers
growth-positive
Assuta Ashdod Medical Center Deploys MedAware's Patient Safety Platform
MedAwares AI-based patient safety solution will be deployed in Assuta Ashdod, Israels newest hospital. The live implementation follows a successful trial deployment and will provide an essential layer of protection to prevent medical errors and faulty prescriptions. The system has been proven to be effective in identifying medication-related risks and preventing patient harm. MedAware aims to protect 100 percent of the Israeli population and transform patient safety globally.
Customers
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $20.87M |
| Last funding | Undisclosed |
| Stage | C |
| Rounds | 12 |
| Investors | 8 |
Team Members
3
Employees: 11-50
Web & Social Links
| Website | www.medaware.com |
| Careers | Careers page |
| App Store | App Store |
Locations
10 Zarhin Street, Ra'anana, Israel
Photos & Videos
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