The demand for better ways to track and improve adherence by pharma and healthcare facilities has spurred entrepreneurs to develop a variety of solutions, particularly for chronic conditions. But few have focused on seniors in the way that MedaCheck has.
The company has raised equity capital for the first time, according to a Form D filing with the Securities and Exchange Commission. Previously, the only investor it has identified is the Cincinnati accelerator Innov8 for Health. It was a member of its inaugural class of startups. The company has been in talks with accountable care organizations, pharmaceutical companies and payers about applying its platform to specific diseases, CEO Jeffrey Shepard told MedCity News in November.
Its tablet-based program has three settings — CheckBox, PillBox and CheckIn. When orders are made, consumers give personal information about medications, both prescription and over-the-counter drugs, along with vitamin supplements and allergy info. Medacheck enters the data into users’ devices for the CheckBox setting. The Pillbox app reminds users of the medication they need to take and uses images in case they forget the name of it. The app also shows the dosage. CheckIn gives realtime feedback on the user’s health status. If users don’t acknowledge on the platform that they’ve taken their medication, designated caregivers are notified and called.
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The company has shied away from making its platform WiFi dependent. It uses a connection provided by AT&T 4G network.
It estimates that 30 percent of hospitals admissions for seniors are directly attributed to medication non-adherence.
