Audio E 130 – Minds Medical is a big data startup which helps hospitals with their unstructured data
You are listening to the audio track of one of our remote video interviews. Find all the links and transcript here: https://www.startuprad.io/blog/minds-medical-is-a-big-data-startup-which-helps-hospitals-with-their-unstructured-data/
Minds Medical’s algorithm helps with unstructured medical data, in the coding of patient treatment and the invoicing of them. Their main tool is an OCR software, with an NLP-AI behind it. The team of MINDS-Medical estimates a 50%-60% productivity improvement in coding processes with their tool.
Minds Medical’s algorithm can also help with medical risk analysis for insurance companies. The tool can be applied in health insurance and life insurance. The MINDS-Medical team estimates a 30% efficiency improvement with their tool. The tool currently helps to improve the decisions with their tools by 10-15%.
The startup already received seed financing in 2018 and is already talking to potential investors for a Series A financing round end of 2020. If you want to talk to them, reach out to us.
During the interview Lukas and Joe are talking about:
When I saw that some of the processes in the health care system suck, I just asked myself „how can we fix that”.