medCPU closes $9.3 Million in Series B Funding to Expand Clinical Decision Support Solutions for Healthcare Providers
NEW YORK, N.Y., May 7, 2014 – medCPU, Inc., a leader in enterprise clinical decision support solutions, announced today the close of a $9.3 Million Series B funding round that will provide the company with capital to maximize its growth opportunities in the expanding market for clinical decision support solutions for healthcare providers. Investors in the B round of financing include Merck Global Health Innovation Fund, Easton Capital Investment Group and New Richmond Ventures.
Real-time clinical decision support is one of the most critical challenges facing hospitals as they adapt to rapid changes in the healthcare industry. It must be highly accurate and reliable for gaining physicians’ adoption at the point-of-care. The medCPU Advisor™, medCPU’s enterprise platform technology, couples a holistic patient profile- acquired in real time from both structured and unstructured data- with customized best practice modules. This unique combination of complete data set and robust best practice content enables the Advisor to generate highly accurate and reliable prompts, effectively assisting the caregivers at the point-of-care in reducing inefficiencies, avoiding clinical errors and reducing costs.
“We believe our technology overcomes a significant barrier in the adoption of decision support solutions by delivering high-precision, high-value decision support to our clinician and hospital clients at the point-of-care,” said Sonia Ben-Yehuda, President and Co-Founder of medCPU, Inc. “We now plan to bring our breakthrough solution into the mass market and help hospitals optimize the existing investments they made in their Electronic Medical Records,” added Ms. Ben-Yehuda.
medCPU has already developed and deployed a wide range of customizable decision support solutions, including modules for Obstetrics, Spine, Stroke, Inpatient and Outpatient Meaningful Use Clinical Quality Measures, VTE Prophylaxis, several ACO related sets of Quality Measures and Radiology. The Company’s library of best-practice modules further includes solutions focused on Readmission Reductions, Value Based Purchasing, ICD-10, Sepsis, Diabetes, CHF and more. Over the past year the medCPU Advisor™ platform has gone live with multiple modules in both hospitals and outpatient offices; the four Tenet (formally Vanguard) hospitals in Chicago being the most recent.
“Our customers are excited about using our Advisor platform as an Enterprise decision-support solution. They have the flexibility to add incremental modules and functionality based on their clinical and financial improvement goals, without the burden of costly and cumbersome implementation processes or the need to purchase different departmental products”, explained Ms. Ben-Yehuda. “And, we are very pleased to work with industry leaders such as Merck’s Global Health Innovation Fund, Easton Capital, and New Richmond Ventures,” she added.
“We’re excited to add medCPU’s leading technology and team to our growing portfolio and believe that medCPU is poised to shift the value proposition of decision support,” said Joel Krikston, Managing Director of the Merck Global Health Innovation Fund.
medCPU delivers accurate real-time enterprise decision support software and services on top of an organization’s IT environment. Through its revolutionary Advisor technology, medCPU uniquely captures the complete clinical picture from clinicians’ free-text notes, dictations, and structured documentation entered into any Electronic Medical Record (EMR), and analyzes it against a growing library of best-practice content, generating real-time precise prompts for best care consideration. medCPU’s founding multi-disciplinary team has been leading the field of real-time clinical decision support for over 19 years, delivering intelligent error reduction software systems to many hospitals in the US. medCPU’s applications include clinical and compliance support solutions.
For more information, visit www.medCPU.com