MedMined Grows by Monitoring for Emerging Infection Outbreaks
The Birmingham Business Journal reports how fast MedMined Inc grew since its creation in 2000. The company provides data mining software that lets hospitals tap their existing applications and identify breakdowns in clinical processes that lead to hospital-acquired infections. These nosocomial infections are estimated to compound on 5% of acute care hospitalizations, leading to maybe 2 million cases per year and tens of thousands of deaths, at a cost of several billions of dollars per year.
By pointing where improvements can be made, MedMined helps hospital save time and money, and reduce morbidity and mortality. The product is currently in use by more than 160 hospitals in 26 states, tracking an estimated 2.5 million hospital admissions each year, up from 102 hospitals in 22 states in 2004. MedMined now employs 75 people, up from 40 last year, while its revenue grew by 179 percent. The company has earned a number of awards these last years, and some of its customers claim savings of over a million dollars per year per hospital.
March 31, 2006 Related topics: IT & software, Cost savings