The company’s platform user base has doubled in the last three months and early results show over 45% improvement in the accuracy of patient medication records
Truentity Health, the revolutionary patient- and provider-centric cloud-based medication management platform, is proud to announce that it has secured $1 million in pre-seed funding to reduce medication errors and optimize drug therapies for providers, pharmacies and hospitals. systems. The capital injection will be used to accelerate product development and hire clinical go-to-market teams.
Medication errors are now the leading cause of medically induced injuries, deaths and hospital readmissions. Forrester predicts that the healthcare industry will face a higher number of medication errors in 2022 and that unoptimized drug treatments will cost more than $528.4 billion per year, equivalent to 16% of spending health totals in the United States.
Using Truentity’s innovative and proprietary workflows that leverage a remote pharmacy team, the company has generated a wealth of accurate medication data to help reduce errors and optimize medication therapy management. Additionally, Truentity has proudly partnered with leading healthcare data exchange vendors for seamless read and write access to thousands of hospital systems and provider sites across the United States.
“Critical medication data is scattered across multiple vendors and hospital systems and is difficult for the healthcare team to access when needed.” said Mike Desai, CEO and co-founder of Truentity Health. “This lack of visibility is the leading cause of errors contributing to a medication error crisis. Truentity Health is on a mission to modernize drug therapy management by creating a patient- and provider-centric platform to help create better outcomes.
During initial deployments, Truentity Health processes and workflows generated more accurate medication data than the data currently in the patient’s EHR; up to 45% more than EHRs and 50% more than PBMs and Pharmacy Networks. Additionally, providers saved up to 40 minutes per patient during the pre-admit or post-discharge medication reconciliation process, easing the burden on limited hospital resources. Vendors have used these services to augment and generate an additional revenue stream through CMS and Payor refunds.
“Partnering with Truentity Health allows our practice to spend more time with the patient instead of collecting and reviewing their current medication regimen. Their solution gives us more accurate patient medication data. Additionally, it allows our medical team to focus on other patient-centric tasks. – Dr. Sitapara, MD, Medical Director of Signature Medicine and Vice Chair of Quality Council of St Mary Medical Center.
Through proof of concept, partnership with leading health data exchange vendors, and an unwavering commitment to protecting what matters most, Truentity Health’s purpose-driven vision can come to fruition as it is revolutionizing patient care for millions of Americans who depend on drugs.
To learn more about Truentity Health, please visit: https://truentity.health/
About Truentity Health
Truentity Health is a patient-centric, provider-focused medication management platform designed to help reduce medication errors and optimize medication therapy. Founded in 2020 by a seasoned team of healthcare technology and cybersecurity entrepreneurs with over 75 years of combined experience. Truentity Health offers a comprehensive medical reconciliation solution for providers, pharmacies and hospital systems to help reduce hospital readmissions, improve clinical outcomes and generate net new revenue through CMS and Payor reimbursements.