MPIRICA Health Inc., a Bellevue, Washington-based healthcare quality transparency startup, has received $4.6 million in funding led by OurCrowd, a global equity crowdfunding platform, with participation from a private Seattle-based equity fund. The digital health startup was founded in 2014 to “demystify” healthcare quality for both consumers and payers. MPIRICA will use proceeds from this round to fuel a national roll-out to customers in the Medicare Advantage and employer benefits space. The company intends on scaling its cognitive technology platform so that more people and organizations can readily access the best healthcare outcome information for their specific surgical needs.
MPIRICA’s 3-digit metric is simple to access and easy to understand. Available instantly online, the quality score summarizes the actual performance of surgical providers based on clinical outcomes. To produce these consumer-friendly, yet scientific hospital and surgeon scores, the company leveraged a deeply experienced team of data scientists and medical doctors. MPRICA has created a proprietary quality score methodology is based on decades of analyzing and risk-adjusting claims data from insurance companies, commercial payers, the federal government and health systems.
“Armed with this funding, we are thrilled to be able to mainstream the only outcomes-based, trusted quality score for the benefit of payers, healthcare consumers, as well as providers, and to scale our operations and technology,” commented Shakil Haroon, founder and CEO of MPIRICA.
The MPIRICA Quality Score is described as revealing a wide a range of outcomes across the country, from poor- performing to superstar-level surgeons and hospitals in almost every city. The company already has launched scores for 864 different procedures. The company’s cloud platform is designed to deliver integrated cost efficiency measures that allow payers to identify the intersection of the most effective and efficient surgery providers in each region of the US.
“MPIRICA’s current commercial agreements with several leading healthcare management companies positions the company for rapid growth and significant impact in shaping the standards of healthcare quality transparency,” said Eduardo Shoval, Chairman of MPIRICA’s Board of Directors and a General Partner at OurCrowd First (the fund that led the investment). “The company has validated the utility and versatility of its platform by providing instant data to patients, who urgently need information to make informed surgeon and hospital selections while effectively delivering cognitive management tools to healthcare businesses who must manage costs and patient risk.”
OurCrowd First (OCF) has been recognized as “Israel’s most active early-stage VC”. OCF has already invested in 19 early-stage ventures, providing capital for some of the most promising Israeli and global exponential-tech startups.
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