San Francisco, CA (PRWEB) June 28, 2016 -- Medal Inc., a San Francisco based tech startup that streamlines electronic medical records sharing for health insurers, providers, and individuals has announced a $3.78M seed round to accelerate hiring and product deployment. The round is led by angel investors 8VC, with participation from Founders Fund, Draper Associates, ZhenFund, and several angel investors.
Medal enterprise software enables secure, HIPAA compliant sharing and cataloguing of clinical information from any electronic medical records system, including reports and summaries using natural language processing. Simple and inexpensive, it installs in seconds, creating a virtual, secure, shared record for each patient encounter while managing access and consent. Up-to-date individual data is collected and used effectively to create holistic patient profiles to feed decision support for providers and patients, driving improved health outcomes.
“With 400,000 Americans dying each year from medical errors and lack of coordination, we wanted to build something that improves the flow of medical data right now,” said Lonnie Kurlander, Medal’s founder and CEO. “Because Medal works with existing electronic medical records infrastructure, we don’t disrupt physician workflows or saddle health systems with exorbitant IT procurement costs.”
Key benefits and features for Medal customers include:
- Fast setup time for EMR owners, with no site-specific customization required.
- HIPAA compliant data transfer with an audit trail maintained for each record shared.
- Automatic extraction of medical concepts from unstructured health records.
- Consent management for patient access and sharing of electronic medical records.
8VC partner Kimmy Scotti said, "Different players in the health IT space have talked about streamlining healthcare data infrastructure for decades. Medal's approach is the most unique and practical that we've seen.”
Medal’s executive and advisory team consists of a diverse range of talent, including an MD and former SVP at Aetna, an author of the HIPAA legislation, the lead architect of Shared Health Research Information Network (SHRINE) at Harvard Medical School, a healthcare strategy executive responsible for $5B in partnering transactions over the last 2 years, and an internationally recognized security expert.
“Technology is necessary but not sufficient to improve quality and reduce costs in healthcare. Medal draws on our lessons learned for building trust and nationally scalable participation among health institutions,” said Medal CTO Andy McMurry.
About Medal Inc.
Medal is a medical data platform dedicated to reducing the cost and time required to get clinical information to individuals and their care teams. Medal offers an electronic medical record application that can be installed on any electronic medical records system in minutes and provides structured data output with medical coding concepts. Founded in 2015, the company is headquartered in San Francisco. For more information, please visit http://www.medal.com.
Tayler Cox, Medal, http://www.medal.com, +1 (650) 862-4606, [email protected]