Pharmesol

Setting the Scene

  • In the US alone, over 4 billion prescriptions are dispensed annually. πŸ‘©πŸ½β€βš•οΈ

  • Yet, countless patients are left puzzled over medication instructions, missed dosages, and navigating potential side effects.

  • To find answers, many are left chasing callbacks from their busy doctors or even taking that trip back to the pharmacy. 🀦🏼

  • This week's company provides an AI platform that assists patients in managing and understanding their medications.

In a Sentence

Pharmesol is an AI-driven software that enables healthcare providers to automate medication management.

  • Automate: Pharmesol’s software provides 24/7 automated SMS dialogues, ensuring continuous guidance about medications.

  • Management: Pharmesol clarifies directions, helps patients recognize side effects, and directs major concerns to medical experts.

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Bulleted Version:

  • Think of Pharmesol as your 24/7 medication management hotline. πŸ“³

The Basics

  • Headquarters: NYC πŸ—½
  • Employee Count: 4
  • Funding amount: $220k
  • Business model: B2B SaaS, per patient per month
  • Early traction: Signed first SMB customer and contracting with a few others.

Due Dilligence

WHAT WE LIKE

  • πŸ“ˆ Market positioning: With a rising emphasis on minimizing medication errors, the medication management system market is set to continue growing rapidly.

    • Pharmesol is positioned to support the 75% of patients who struggle to manage and take their medications as directed.

  • βš™οΈ Pharmacy efficiency: Pharmesol boosts operational efficiency through 24/7 management, improved patient adherence, and customer loyalty, while alleviating overstretched pharmacy staffs.

  • 🀝 Ecosystem advantage: Pharmesol optimizes operations and insights across patients, pharmacies, clinicians, insurers, and pharmaceutical companies, unlocking new revenue opportunities and ecosystem-wide savings.

POTENTIAL RISKS

  • 🚫 Liability concerns: Any misinformation or drug misuse as a result of information shared by the platform could pose significant liability risks for pharmacies and their clinicians.

  • πŸ•°οΈ Training the model: Thoroughly training the AI for the vast array of medications, conditions, and patient types may be both costly and time-intensive.

  • πŸ“š Learning curve: As healthcare providers and patients adopt Pharmesol, there could be a learning phase β€” both for how to use the software and recognizing when hands-on intervention is necessary.

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Founder Profile

  • Natalie Park, CEO: Previously implemented clinical and operational programs while working at Geisinger and holds a Doctor of Pharmacy degree.

  • Batman Feldman, CTO: Previously worked as a software engineer at numerous high-growth startups as well as Amazon.

  • Saumya Rawat, CPO: MIT clinical machine learning engineer and previously worked at a medical data labeling startup and as an engineer at Peloton.

Why Pharmesol

  • By minimizing the need for clinician input, offering 24/7 patient support, and enhancing pharmacy operational efficiency, Pharmesol is writing a new script for the future of telemedicine.πŸ“