AI Startup AESOP Raises $3M to Tackle Medical and Billing Errors

Digital health startup AESOP Technology has raised a $2.95 million series pre-A round to address the growing medical and billing errors problem. The round was led by Taiwania Capital with participation from Colopl Next, 500 Startups, and BE Capital. Originally from Taiwan, AESOP started as a university spin-off from Taipei Medical University (TMU). Professor Yu Chuan (Jack) Li, the founder and current president at the International Medical Informatics Association, spent ten years before AESOP working on big data approaches to reduce medication errors. He initially applied the model to launch a product, RxPrime (previously known as MedGuard), that identifies wrong-drug errors. During the pandemic in 2020, Prof. Li officially established AESOP in the US with his former student, who grew to become CIO at a TMU-affiliated hospital, Dr. Jim Long, and former TMU Visiting Assistant Professor, Dr. Jeremiah Scholl. They worked together to broaden the types of errors the AI could identify and on products they could use to improve the US healthcare system. “Our solution is revolutionary and generalizable.” CEO Jim Long described. “We have developed an AI model with an exceptional understanding of the association between diagnoses and structured clinical data like medications, lab results, and procedures.” One of the first errors RxPrime identified was a 9-year-old girl accidentally prescribed an anti-schizophrenia drug for simple back pain. Another com...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: AI/Machine Learning Health IT Company Healthcare IT 500 Startups AESOP AESOP Technology BE Capital Colopl Next Dr. Jeremiah Scholl Dr. Jim Long DxPrime Health IT Funding Health IT Fundings Health IT Investment International Med Source Type: blogs