Easton, Jan. 19, 2023 (GLOBE NEWSWIRE) — Qlarant Capital announced the addition of InpharmD™ to their growing investment portfolio of burgeoning health care solutions companies. Based in Atlanta, Ga, InpharmD provides artificial intelligence (AI) based drug-information to healthcare providers, enabling them to ask any clinical question from anywhere in the world, and receive a curated, data-driven answer. Driving evidence-based patient care, InpharmD’s service saves providers hours of research and documentation time. InpharmD uses natural language processing to consolidate clinical literature and summarize applicable content in an easy to use, easy to access format. Furthermore, the company also provides a robust pharmacy and therapeutics (P&T) arm focused on the creation of comprehensive drug monographs, class reviews, formulary management, and more. In the past year, InpharmD has successfully created three libraries/databanks focused on drug stability, biosimilar payor coverage, and medication shortages.
The funding is used to further invest in InpharmD’s product, and to perfect their AI model towards point of care decision support. InpharmD’s vision is to become the “go-to” decision support tool that can accurately answer any clinical question – with data. InpharmD is building an AI algorithm (bot) that leverages the company’s existing, scraped, and licensed data to provide customized, curated evidence to posed clinical inquiries.
To help achieve this goal, Qlarant Capital will work with InpharmD to ramp up the technology function via a new partnership with Qlarant Inc. “Qlarant brings the technical and domain expertise needed to achieve our ambitious vision,” said Ashish Advani, Co-Founder and CEO of InpharmD. “It’s a very exciting time for us, our clients, and the healthcare industry”.
With a client base of over 10,000 physicians, nurse practitioners and pharmacists, InpharmD touts it provides a “one-touch literature search”, so they can spend less time researching and more time with patients. Their goal is to make every healthcare provider (even more) Superhuman.
“This is an investment Qlarant is proud of,” says Qlarant Inc. CEO Dr. Ron Forsythe, Jr. “The company already has a strong client base, and an even more impressive waiting list. The growth potential is real, and the product offering grows stronger with each layer of technology improvement”.
About Qlarant Capital
Qlarant Capital invests in early-stage startups who are poised to bring innovation and growth to the healthcare industry via technological solutions. Qlarant strives to generate excellent innovation by backing daring health care industry entrepreneurs that can build the future through technology while creating synergy among their portfolio companies. For more information visit www.Qlarant.com or contact Holly Pu [email protected]
InpharmD works at the intersection of pharmacy intelligence and artificial intelligence, making it easier and more efficient for clinicians to provide evidence-based patient care. InpharmD has assembled its own data bank, accumulating over 30M studies and abstracts; and has built an AI–algorithm to easily search and summarize the literature. When compared to human controls, it has achieved a 94% accuracy rate.