Company: Apixio
Industry: Healthcare IT
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Location: San Mateo, California
Money raised: $5.8 million so far, with a goal of $7.8 million
Investors: At least 10 private investors
Management Team: Shahin Hedayat, executive chairmanwas previously co-founder and ceo of Beceem, a mobile WiMAX chip provider and co-founder of Centillium Communications. Shawn Dastmalchi the CEO, was director of informatics business at Carl Zeiss Meditec where he was responsible for sales, marketing, service and support of Zeiss’ health IT solutions in the U.S. market. Darren Schulte, the chief medical officer, previously led product strategy at Anvita Health, a health care analytics company that provides physician decision support tools for EHRs and other clinical management technologies. he served in senior product and executive leadership roles at Alere, a global health management and rapid diagnostics company. Imran Chaudhri, the chief technology officer, co-founded Anka Systems and focused on the execution of EyeRoute’s business development, product definition, engineering, and operations. EyeRoute was the world’s first ophthalmology image management system. Last year it added Farzad “Zod” Nazem in a new role as thought leader. Nazem was the chief technology officer with Yahoo! from 1996 until his retirement in 2007.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Products/Solutions: Using software from Allscripts, the company offers several different big data and analysis tools. Among its products are a cloud-based data mining and health information exchange platform called the Clinical Knowledge Exchange. It claims to be a virtual and intelligent healthcare information exchange. It can import and reconcile patient data in many formats so that the information is ready for viewing and analysis within a customer’s electronic record or web-enabled computer, tablet, or Smartphone. It also provides healthcare organizations with coded data, like claims data, and unstructured data found in clinical narratives. Apixio Patient Analyzer is a variation on this theme but provides a consistent and accessible view of an integrated patient record comprised of coded data, narrative text, and scanned documents from diverse clinical care settings. The data is stored in a longitudinal record format that can be retrieved and presented within a web-enabled device such as PCs, smart phones and tablets. It also has a built-in search component to retrieve the most relevant information from the patient record for physicians, care managers, and billers to retrieve timely knowledge to deliver safer care, reduce unnecessary services, and enhance reimbursement, according to its website. It also has data mining products geared to provide insights on a provider’s patient population called the Population Analyzer and a tool to optimize reimbursement revenue for healthcare organizations and health plan affiliates’ Medicare Advantage members called HCC Optimizer. Among its clients are Accountable Care Organizations, health systems, Medicare Advantage Plan providers and independent clinics.
Market size: The global healthcare IT market is expected to increase from an estimated $99.6 billion in 2010 to $162.2 billion in 2015, according to market research company Markets & Markets.
Competitors: Tough to say. There’s growing competition in healthcare analytics from big companies like IBM and GE and Microsoft joined forces at the end of last year and to smaller and medium sized businesses such as Valence Health to Explorys.
