An end-to-end AI platform for personalised medication has been launched, backed by a $6million seed round.
MDI Health has launched its breakthrough platform, which will add to efforts to solve medication problems, the fourth-largest cause of deaths globally.
With many patients taking seven types of medication or more, 82 per cent are at risk of an adverse drug-event – in the US alone, there are 275,689 preventable deaths a year due to the negative impact of taking multiple medications. Comprehensive medication reviews (CMRs) undertaken by clinicians are effective in reducing these drug-related events, but this remains a manual process taking hours per patient.
While positive strides have been made in recent years to address this issue with 1:1 drug interaction systems, these only offer a partial solution focused on alerts and adherence.
Through the introduction of personalised AI technology, medication management is taken to the next level, automating CMRs so clinicians can complete them in minutes rather than hours, enabling them to make comprehensive and informed decisions on prescriptions based on multi-drug interactions, individual medical history, lifestyle, and other key patient-specific factors.
As tested recently in clinical trials at Hadassah University Hospital in Israel, MDI Health’s AI platform presented up to 40 per cent more life-saving patient insights than the clinical pharmacists had identified.
The new MDI Health AI platform also contributes to efforts to reduce expenditure in the global healthcare industry, with annual excess care costs associated with these events estimated at $528billion in the USA alone. By significantly reducing adverse drug-events, huge costs associated with ER visits and hospital stays can be saved.
To achieve its objective of being the mainstream medication management system of the future, MDI Health has secured a $6M investment round from a group of Venture Capital Funds, led by Hanaco Ventures, and joined by investors such as Fresh Fund, Jumpspeed VC, Basad Ventures and Arc Impact. This brings its total funding to date to $7M.
The investment will be used to further optimize its end-to-end AI personalised medication treatment platform, as well as enabling it to scale-up the business to support its aggressive growth in 2022. The company has also launched pilots in the USA with one of the top three largest health insurers and top five largest health systems in the country.
Dr. Dorit Nahlieli, co-founder and CSO, MDI Healthcare, says: “As a drug safety expert, I’ve been trying for decades to better manage patient risk, especially when it comes to patients taking multiple medications. It is a tragedy that so many people die each year when we know CMRs are an effective solution, yet clinicians like me don’t have the tools to automate such a time-consuming process and customize patient’s prescriptions with the quality they deserve.
“The main solutions available focus on 1:1 interactions and adherence, leading to partial analyses, laborious processes, and a lack of standardisation in terms of the outcome. In contrast, MDI’s novel AI technology enables multi-drug analyses featuring patient-specific lifestyle data to generate reliable CMRs within minutes and at scale, meaning significantly more patients get improved quality of care and lives are saved.”
Avishai Ben-Tovim, CEO and co-founder of MDI Health, adds: “We believe this is a watershed moment in the democratisation of healthcare in the US, making high-quality personalised medication treatment accessible to all. Consider us an AI clinical pharmacist, empowering clinicians to be able to perform more medication reviews while maintaining the highest standards. We give clinicians all the tools they need to find the best balance between efficacy of the treatment and risks of the medications for each patient individually, at mass-scale.”