OurCrowd First Invests in MPIRICA Health to Launch and Expand U.S. Surgeon Quality Scores; Free for Employers

General partner Eduardo Shoval appointed to MPIRICA board of directors.

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Nov 10, 2015, 09:55 ET

Map showing the disparity of quality for knee replacement surgery across the USA as represented by the MPIRICA Quality Score. The Score summarizes a complex set of medical outcome data and normalizes it down to an easy-to-understand 3-digit number that can be used as an apples-to-apples comparison of hospitals and physicians. Some have referred to the MPIRICA Quality Score as a "FICO score for surgery."

MPIRICA Quality Score measures surgery clinical outcomes to help patients make informed decisions. It was created to help demystify healthcare quality transparency for consumers at the procedure level, and is based on past performance of hospitals and surgeons throughout the U.S.

Shakil Haroon, founder and CEO of MPIRICA Health Analytics, a healthcare technology company in Seattle, WA. MPIRICA was founded to demystify healthcare quality transparency for consumers with an intuitive measurement of hospitals based on past performance, at a surgical procedure level. Find more info at www.MPIRICA.com.

SEATTLE, Nov. 10, 2015 /PRNewswire/ -- MPIRICA Health Inc., a healthcare transparency company that focuses on quality, today announced a $400,000 investment from OurCrowd First, an early-stage seed fund with OurCrowd, one of the world's leading equity crowdfunding platforms. The funding coincides with a free-to-employers release of MPIRICA's Surgeon Quality Scores, which summarizes 4 years of actual surgical outcomes by individual physicians.

In April of this year, MPIRICA announced the launch of surgery quality scores, based on actual outcomes, for thousands of U.S. hospitals. The company has now released 65,950 surgery quality scores for individual physicians. The OurCrowd funding will help to significantly expand the number of procedures in its database.

Hospital surgery quality scores are available at no cost to the public at www.mpirica.com, and scores for individual physicians are now offered via free premium subscription to qualified employers who desire quality transparency for their employees. With access to these scores, healthcare consumers can make informed decisions about their surgeons.

"I am thrilled to join with an innovative partner like OurCrowd at such a disruptive time for the healthcare industry," said Shakil Haroon, MPIRICA founder and CEO. "This funding will allow us to increase our breadth of procedure coverage, and bring even more savings to our enterprise customers."

Choosing the wrong hospital or physician puts patients at extreme risk, and it can also increase costs 3 to 5 times for the payer, who is often the patient's employer. Identifying and selecting providers who have demonstrated high-quality outcomes is beneficial to both parties.

"MPIRICA is uniquely poised for success, realizing that access to accurate quality and cost information is more important than ever for American healthcare consumers who are being forced to take matters into their own hands with high deductible health plans," said Eduardo Shoval, General Partner at OurCrowd First.

Shoval has been appointed to MPIRICA's board of directors. With his 25+ years of experience as a successful hi-tech entrepreneur, CEO and investor, Shoval will support MPIRICA with strategy, business development, fundraising and team building.

The MPIRICA Quality Score is easy to understand and actionable. A score from 600 to 800 represents a better than average to excellent demonstration of quality healthcare for a given procedure. Scores less than 600 but more than 400 represent fair care, while anything below 400 indicates substandard historical performance. Information about the surgery quality score methodology can be found at mpirica.com.

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 www.mpirica.com.

About OurCrowd First

OurCrowd First is OurCrowd's boutique USD $10M per year seed fund for early-stage investments in Israeli and global startups. The fund is raised on OurCrowd's online equity crowdfunding platform, one of the world's leading global equity crowdfunding platforms for accredited investors. Since launching, the fund has made a series of seed and pre-A investments in high-growth sectors including the internet of things, enterprise, consumer marketplaces, industrial energy, mobile infrastructure, 3D printing and digital radiology. The OurCrowd First seed fund is raised on an annual basis, and is managed by two serial entrepreneurs, General Partners Eduardo Shoval and Yori Nelken. For more information visit www.ourcrowd.com.

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SOURCE MPIRICA Health Inc.