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- 🚀 MedSwift: Electronic health records, solved
🚀 MedSwift: Electronic health records, solved
Spend less time managing your practice and more time being a doctor | Drop #34
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âšľ The Elevator Pitch:
Bad Electronic Health Record (EHR) software - the electronics where patient info is stored - is an epidemic. Many doctors don’t enjoy spending time on their EHR but they need it to run their practice.
MedSwift is designed to save doctors time through its AI-assisted, easy-to-use software. MedSwift’s EHR platform offers all the features private practices have come to expect and more, including patient engagement, EHR secure transfer, e-prescriptions, insurance billing, advanced analytics, telehealth services, and website development. The product replaces an outdated legacy UI for EHR with a beautiful new interface and excessive data entry with automated workflows assisted by artificial intelligence.
👇 The Drop Down
Site: https://medswift.co/School: Columbia & University of ChicagoFounded: 2019Stage: Currently raising a pre-seed angel round 🔔Tech trend: AITraction: 4 practices have signed MoU’s (Memorandum of Understanding), product far along in developmentTeam: UChicago researcher, previous founderAnabelle Wright - Co-Founder & CEOAmir Mustefa - Co-Founder & CTO
🔍 Our analysis
đź’° Practice-friendly business modelPrivate practices have small staff compared to large hospitals and have a high dependency on EHR, but current EHR software is priced for large, well-funded hospitals who can afford to spend a lot of cash. Subscription fees and insurance collections are forcing private practices to pay more than they can afford. MedSwift charges per data usage, not per provider; this business model makes much more sense for small practices.
⏰ Right place, right timeThe COVID-19 pandemic increased the amount of time doctors spent on their EHR software. For many doctors, this was a painful reminder of how cumbersome their software is. Right now, more practices are considering switching from their old EHR provider to another product with a better user experience, and this is a rare opportunity that MedSwift is well-primed for.
💊 A tailored remedyMedSwift serves private practices (as opposed to large hospitals) and is built with the workflows of specific practices in mind like obstetrics & gynecology, internal medicine, and psychiatry. Every bit of time spent on EHR data entry takes away from time that could be spent being a doctor. MedSwift’s customized workflows save doctors headaches and valuable time.