MPIRICA Health Inc. Secures $1.6M to Promote FICO-Like Quality Scores for Surgeries
The MPIRICA Quality Score Summarizes Multiple Clinical Outcomes for Surgical Procedures, Enabling Easy Comparison of Hospital and Surgeon Performance
SEATTLE, April 22, 2015 /PRNewswire/ -- MPIRICA Health Inc., a healthcare quality transparency startup, today announced $1.6M in Series A financing from the McQuinn Trust, an early stage, private investor. The funding helps accelerate consumer and employer awareness of MPIRICA.com, delivering easily interpreted, outcomes-based quality scores covering surgeries at over 4,800 U.S. hospitals.
"As a patient in need of surgery, you are probably very concerned about choosing the hospital and surgeon most likely to deliver superior outcomes for your surgical procedure," said Shakil Haroon, MPIRICA founder and CEO. "We give you peace of mind, with a FICO-like medical quality score that uses past performance data to help you confidently pick a provider in your area."
The MPIRICA Quality Score is based on methodology developed and refined by Dr. Michael Pine - a Harvard trained cardiologist and nationally recognized medical quality expert.
"Each MPIRICA Quality Score is the product of multiple clinical outcomes, tracked from patient admittance through post-discharge, using a high-quality, widely recognized national database," commented Dr. Pine. "Each component undergoes comprehensive risk adjustment to capture patient risk and severity and is weighted to reflect its importance. As a result, the score allows direct comparison of U.S. hospital and surgeon performance at the individual procedure level."
No cost or third party subjective input criteria, such as hospital or surgeon reputation, are considered in the scoring algorithm.
MPIRICA Quality Scores are key to revealing inverse relationships between procedure cost and quality, common to all metro areas. For instance, a search on MPIRICA.com for Seattle knee replacement surgery providers shows a $55,660 price difference between area hospitals, with the highest quality hospital for this procedure charging the lowest price.
Employers may achieve significant cost savings, simply by making high quality and low cost providers clearly visible to covered employees, and by promoting smart choices. The MPIRICA Enterprise platform provides the necessary visibility to employees and enables employers to achieve cost containment through cash-back incentive setting tools, rewarding employees when they choose high value providers over alternatives.
About MPIRICA Health Inc.
Based in Bellevue, Washington, MPIRICA Health Analytics was founded in 2014 to demystify healthcare quality transparency for consumers with an intuitive measurement of hospitals based on past performance, at a surgical procedure level. Find information on MPIRICA Health on Twitter, LinkedIn or on its website at https://www.mpirica.com.
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SOURCE MPIRICA Health Inc.
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