Synapse Medicine in Bordeaux, France announced on tuesday It has raised $28 million to expand a technology that helps build a comprehensive and accurate list of medications patients are taking, also known as medication coordination.
A robust medical reconciliation process can help patients avoid dangerous mistakes that are costly to the entire health system. synaptic The drug reconciliation platform includes listing the drug name, dosage and frequency, and route of intake. Such platforms are critical to preventing medication errors and ensuring patients take their medications as prescribed.
To ensure medication accuracy, Synapse’s platform is able to do multiple things: fill out patient records with any clinical issues the patient is facing along with contact information for the healthcare team to easily contact providers; obtain an exhaustive list of pharmacy-verified patient medications ; describe any medications taken or prescribed during hospitalization; and compare medication history to hospital prescription records for any possible discrepancies.
Taken together, the platform is designed to simplify the medication reconciliation process so that physicians can better manage patient care inside and outside the hospital, as well as the transfer of patients from one care setting to another.
“At Synapse Medicine, we’ve developed a drug coordination solution that simplifies the process and reduces prescribing discrepancies at each transition,” CEO Clement Goehrs said in a statement. “This new funding round is an important milestone in further advancing drug coordination and improving patient safety in the U.S.”
For recently discharged patients, appropriate medication adjustments can help avoid problems that lead to readmissions. In the United States, annual medical costs for readmissions total more than $41 billion, and 66 percent of readmissions are related to preventable adverse health events, according to the Institute for Healthcare Research and Quality. This includes not taking the medication as prescribed.
European venture capital firm Korelya Capital led the round, which is Synapse’s third in as many years, bringing the startup’s total raised to $40 million. Past investors XAnge, MACSF and BNP Paribas Development also contributed to the latest funding round.
Fleur Pellerin, chairman and co-founder of Korelya Capital, in a statement.
This protection is especially needed in elderly patients, for whom it is not uncommon for multiple medications to be prescribed to treat multiple chronic conditions.That Making managing medications a challenge, especially given the growing number of hospitalizations for this group during the pandemic.To help meet the challenges, more and more technologies are being deployed to track medication Once prescribed, make sure to take it as prescribed. Companies like Medisafe and Cureatr help with medication management, both seeking to ensure accuracy and reduce the time clinicians spend compiling medication lists.
Synapse’s focus on medical settlements helped it attract investment. Among other things, this will be used to open a new office in New York, where its CEO will move. It also plans to hire more staff in New York and other international locations from Berlin to Tokyo, bringing its headcount to 150 by the end of the year.
Photo: DNY59, Getty Images
