Pharmesol
Setting the Scene
In the US alone, over 4 billion prescriptions are dispensed annually. 👩🏽⚕️
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.
Bulleted Version:
- Think of Pharmesol as your 24/7 medication management hotline. 📳
The Basics
- Headquarters: NYC 🗽
- Employee Count: 4
- Investors:
- Funding amount: $220k
- Business model: B2B SaaS, per patient per month
- Early traction: Signed first SMB customer and contracting with a few others.
Due Diligence
WHAT WE LIKE
📈 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.
⚙️ 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.
🕰️ Training the model: Thoroughly training the AI for the vast array of medications, conditions, and patient types may be both costly and time-intensive.
📚 Learning curve: As healthcare providers and patients adopt Pharmesol, there could be a learning phase — both for how to use the software and recognizing when hands-on intervention is necessary.
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.
Comps
Illuminate.health: Backed by Plug and Play.
Converse Health: undisclosed.
Neurality Health: undisclosed.
Medisafe: Backed by Sanofi Ventures, Octopus Ventures, M Ventures, Pitango VC, Triventures, lool ventures, and others.
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.📝