Seattle-based healthcare quality transparency company Mpirica has raised $4.6 million in a round led by equity crowdfunding platform OurCrowd. An undisclosed Seattle-based private equity fund also contributed to the round. The company plans to use the funsing to support a national rollout to Medicare Advantage customers.
With its team of data scientists and physicians, Mpirica uses claims data to rate surgeons based on its own proprietary methods. Three-digit quality scores, modeled after FICO credit scores, are available online for 864 different surgical procedures. The score weights the surgeon's in-patient mortality rate, number of severe complications, and other objective factors. (Correction: A previous version of this story said patient satisfaction was included in the score.)
“Armed with this funding, we are thrilled to be able to mainstream the only outcomes-based, trusted quality score for the benefit of payers, healthcare consumers, as well as providers, and to scale our operations and technology,” Shakil Haroon, founder and CEO of Mpirica, said in a statement.
The company offers an API to payers and employers that gives them (and, in turn, their members) access to Mpirica scores as well as integrated cost efficiency measures to help payers find the best affordable, local surgeons for their members.
“Mpirica’s current commercial agreements with several leading healthcare management companies positions the company for rapid growth and significant impact in shaping the standards of healthcare quality transparency,” Eduardo Shoval, chairman of Mpirica’s board of directors and general partner at OurCrowd First, said in a statement. “The company has validated the utility and versatility of its platform by providing instant data to patients, who urgently need information to make informed surgeon and hospital selections while effectively delivering cognitive management tools to healthcare businesses who must manage costs and patient risk.”
OurCrowd, an Israel-based equity crowdfunding platform, has been moving more deliberately into healthcare of late, with the opening of its OurCrowd Qure fund late last year.