MedAware Extends North American Footprint with New Office Opening
Stamford, Connecticut Location to Serve as Company’s US Headquarters
Stamford, CT- June 6, 2017- MedAware, a provider of algorithm-rich solutions for the detection and elimination of medication errors, today announced that the company has opened its North American headquarters in Stamford, CT. The Israeli-based startup’s U.S. operations will be led by Ori Karev who serves as the company’s chief business officer.
Nearly eight million people in the United States alone are exposed to serious and preventable medication errors on an annual basis. MedAware is dedicated to eradicating such catastrophic errors by leveraging its patented software to perform a real-time evaluation of a prescribed drug against a specific and up-to-date patient profile. The company’s advanced machine-learning algorithms mine data gathered from millions of EMRs to detect outliers in prescription behavior that could potentially be fatal and immediately flag them as life threatening.
“Each year, hundreds of thousands of Americans are injured or fatally harmed by adverse drug events and erroneous prescriptions, an alarming statistic that makes a strong case for technology solutions that can identify the most consequential medication mistakes,” said Ori Karev, chief business officer at MedAware. “With the opening of the new headquarters, MedAware is demonstrating its growing role in the efforts to improve patient safety and save lives at hospitals across the country.”
Most recently in the U.S., MedAware earned validation for its solution from a Harvard Medical School research study. The study analyzed records from almost 800,000 patients in order to assess the efficacy of MedAware’s innovative and unique solution, and the results have provided a comprehensive validation of the company’s disruptive solution. The findings, recently published in the Journal of American Medical Informatics Association (JAMIA) revealed that MedAware’s technology establishes a new standard for prescription alerts and patient safety vis-à-vis traditional rule-based systems which are outdated and proven to only detect a fraction of actual errors.
Each year, hundreds of thousands of Americans are injured or fatally harmed by adverse drug events (ADEs) and erroneous prescriptions. MedAware’s medication surveillance technology identifies ADEs and eradicates catastrophic medication errors by applying advanced machine-learning algorithms, and outlier detection mechanisms similar to fraud detection solutions in use by financial institutions worldwide. By continuously mining data gathered via millions of electronic health records, the software is able to accurately flag potentially life-threatening prescriptions that are in conflict with the profile of the patient, physician, or institution. In addition, MedAware actively monitors each patient to identify and warn of situations in which changes in a patient’s diagnostic results renders one of his/her active medications a dangerous outlier. These difficult or nearly impossible to anticipate errors would otherwise go undetected by current rule-based solutions. The company’s unique, real-time approach to identifying ADEs and preventing medication errors saves lives, improves patient safety and outcomes, and significantly reduces avoidable risks and costs. For more information, please visit www.medaware.com.