Ann Arbor, MI – March 4, 2010 – Avicenna Medical Systems, Inc, a leading provider of chronic disease management systems and clinical procedure documentation, announced today that it has secured $40,000 in financing from the Business Accelerator program administered by Ann Arbor SPARK.
“This funding is critical to the successful marketing of the Avicenna products and it’s recognition of the central role played by healthcare in the US economy,” said Erdwing Coronado, Avicenna’s co-founder and CEO. “When it comes to chronic medical conditions such as coagulation, oncology, diabetes, etc., nearly 50% of a care unit’s activity is spent on follow-up care and documentation ensuring appointments are kept, tests are reviewed, treatments are adjusted and treatment changes are relayed to patients and other care givers. These complicated and burdensome responsibilities are labor intensive and subject to human error”.
Avicenna’s disease management system, called AviTracks™, helps clinics manage patient information, workflows and communication to improve patient outcomes and reduce operating costs. Focused on helping clinical staff provide care to ambulatory patients, AviTracks automatically monitors lab results, standardizes treatment protocols, updates staff, increases productivity, and manages large numbers of patients according to the clinic’s specifications.
Avicenna’s clinical procedure documentation product, called AviDocs EP™, incorporates procedure documentation, professional and facility billing, quality assurance, and inventory management in a simple user-friendly interface.
Ann Arbor SPARK’s economic development efforts to attract and retain businesses in the region, and support job creation, generated meaningful results in 2009. More than $147 million in new investment commitments were made through Ann Arbor SPARK’s work, in conjunction with state and regional partners. The creation and retention of over 3,200 jobs were committed by companies assisted by Ann Arbor SPARK.
Ann Arbor SPARK’s Business Accelerator, which provides business acceleration funding, business and life science incubators, and entrepreneurial education and talent services, drove entrepreneurial growth and success in the region in 2009.
About Avicenna Medical Systems, Inc
Avicenna Medical Systems, Inc. is a privately held company located in Ann Arbor, Michigan that develops and markets software solutions to improve the quality of care, information flow, and financial efficiency in Chronic Disease Management and Clinical Procedure Documentation. The founding of Avicenna resulted from the work of a group of physicians and IT professionals addressing issues of workflow efficiency in a world-class health system. Avicenna’s products address specialty segments such as: Anticoagulation, Electrophysiology, Cancer, Rheumatology, and Chronic Heart Failure. In use since 2002, AviTracks has been shown to lower operating costs, double clinic productivity and reduce adverse events by 75% over the most recent five years managing over 2.5 million patient encounters.
Avicenna Medical Systems, Inc.