Memora Health Automates Follow Up Care
Founded by HMS and Georgia Tech students, Memora Health delivers concierge-level follow-up care to patients for a fraction of the cost.
Written by Jenny Wang & Tieshun Rocquerre, Venture Fellows at Rough Draft Ventures
1 in 7 patients discharged from a hospital is readmitted within 30 days, and health systems are struggling to manage this influx of patients. Patients forget 85% of at-home care instructions they are given by physicians and nurses before they are discharged, contributing to $100 billion in preventable readmissions costs. Hospitals and private practices have been hiring care and management discharge staff accordingly: care manager salaries now account for 15% of annual hospital budgets. With the rising cost of healthcare nationwide, 1 in 2 clinics or hospitals have profit margins <1% or are operating at a loss.
Founded by three Harvard Medical School and Georgia Tech students, Nisarg Patel, Kunaal Naik and Manav Sevak, Memora Health seeks to mitigate the additional costs incurred by preventable hospital readmissions with a conversational AI named Felix. Felix is a human-esque care manager that connects with patients over SMS to send discharge instructions, ask about general wellness, and track self-reported health data to provide personalized health coaching. A risk assessment algorithm monitors and identifies trends in patient-reported symptoms in order to notify hospitals when a patient may be at risk of hospital readmission, prompting clinicians to take action. Memora Health wants to help build a world where patients not only have accessible and affordable healthcare, but understand that their doctors are truly invested in their well-being.
The founders of Memora Health have known each other for a number of years. Nisarg and Manav grew up together, while Kunaal and Manav were roommates at Georgia Tech. The three founders teamed up at PennApps where they grew Memora Health out of a prototype. Combined, their previous experiences span the Broad institute, U.S. Centers for Disease Control, Google and VMWare.
We’re excited to work with the Memora Health team as they augment the abilities of clinicians and improve access and quality of healthcare through AI. Learn more about the company on their website, and stay tuned for updates via Twitter!
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