Renowned digital health startup, AESOP Technology has reportedly raised a sum of USD 3 million in order to address the rising medical and billing complexities.
Based in Taiwan, AESOP began its operations as a spinoff university. Yu Chuan (Jack) Li, a Professor at the Taipei Medical University (TMU), was the first to become a part of the startup, where he spent his time building big data approaches to mitigate medication errors. The model, initially, was supposed to launch a product named RxPrime (previously known as MedGuard), to highlight wrong drug dosage errors.
Apparently, Yu Chuan is currently the founder and president of the International Medical Informatics Association.
The onset of the coronavirus pandemic in 2020, instilled a new vigor in the daily operations of the company, as Professor Li, along with a former student successfully branched out AESOP into the American marketplace.
CEO of AESOP, Jim Long claimed that the new AI solution is revolutionary and easily generalizable as it is developed with a keen understanding of the link between structural clinical data such as lab results, procedures and medications and different diagnoses.
According to sources, the RxPrime has been currently upgraded to DxPrime with certain tweaks with respect to the method of diagnosis. This development has by far achieved a 100% adoption rate considering its benefits in physician-centric clinical decision support systems. This procedure of aiding physicians in effectively identifying correct diagnostic codes is leading to precise billing.
Notably, the funding would help AESOP in expanding into the American market space as well as fortifying the tech team.
Major changes that would be a part of this expansion, include the launch of two new apps on the Epic App Market, acceptance into the Mayo Clinic Platform Accelerate and a published paper with Harvard University last year illustrating the adaptability of their model with U.S. hospitals.
Source Credits: - https://www.prnewswire.com/news-releases/ai-startup-aesop-raises-3m-to-tackle-medical-and-billing-errors-301615364.html