Product Overview of MedAware
Introduction
MedAware is a pioneering healthcare technology company that leverages advanced AI, big data analytics, and machine learning algorithms to provide patient-safety centered clinical decision support tools. Founded in 2012 by Dr. Gidi Stein, a former physician, MedAware aims to eliminate prescription errors and improve medication safety across the healthcare spectrum.
Key Features and Functionality
AI-Powered Medication Safety Monitoring
MedAware’s platform employs sophisticated machine learning algorithms to analyze large-scale data from electronic medical records (EMRs), identifying outliers in prescription behavior that deviate from standard treatment patterns. This approach flags potential medication errors with high specificity and low alert fatigue, ensuring that healthcare professionals are notified only of critical issues.
Real-Time and Personalized Risk Monitoring
The platform provides 24/7 real-time monitoring of medication-related risks, allowing pharmacists and clinical care teams to intervene promptly. It integrates seamlessly into existing health data systems, electronic health records (EHRs), and devices, enabling continuous surveillance of patients’ personal risk of medication-related adverse events.
Advanced Outlier Detection
MedAware’s technology is akin to outlier detection mechanisms used in financial institutions to monitor fraud. It identifies dangerous and undetected medication-related risks by analyzing longitudinal and real-time patient data, including medication errors, opioid dependency risks, and evolving adverse drug events.
Clinical Relevance and Accuracy
Unlike traditional clinical decision support (CDS) systems, MedAware’s platform is not rule-based but rather learns from real-life treatment patterns. This approach drives unprecedented behavior change among prescribers, as the high clinical relevance of its alerts leads to significant changes in prescribing behavior.
Integration and Flexibility
The platform is designed to be vendor-agnostic, configuring within various health data systems and devices through APIs. This flexibility allows MedAware to be embedded into workflows such as Epic pharmacy systems, as seen in the partnership with Ballad Health.
Financial, Operational, and Clinical Outcomes
By preventing medication errors, MedAware helps reduce hospital stays, admissions, and associated healthcare costs. The platform also enhances operational efficiencies by enabling acute care pharmacists to prioritize patient care more effectively and drive better clinical outcomes.
Value Creation
MedAware’s solutions create significant value for patients, physicians, and hospitals. For patients, it saves lives and reduces preventable adverse effects from prescription errors. For physicians, it serves as a valuable tool to check against errors and reduce potential lawsuits. For hospitals, it helps in reducing human errors and associated costs, freeing up resources to serve more patients.