This medtech company provides technology-enabled process innovations to the healthcare sector, focusing on reducing medical errors through enhanced data accuracy and workflow efficiency. By addressing systemic flaws in healthcare delivery, the company enables healthcare professionals to improve patient outcomes while facilitating impact investments.
Funding
$5.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Hospitals face increasing financial pressures due to rising expenses, staffing shortages, and demands from payors, while also needing to reduce unreimbursed surgical errors that impact both patient safety and hospital profitability. Manual processes in the operating room, such as counting surgical sharps, are prone to errors, leading to retained surgical items (RSIs), increased costs, and potential harm to patients and surgical staff.
Solution
Magvation provides a CoBot-enhanced Surgical Safety System (SSS) and Mobile Surgical Platform (MSP) that leverages AI to automate surgical sharps counting and reduce surgical disruptions. The system aims to improve surgical efficiency, staff effectiveness, and procedural efficacy by addressing issues related to the environment of care, delivery of care, and fulfillment of care. By reducing manual processes and system complexity, Magvation's solution seeks to minimize errors, improve patient safety, and enhance the overall quality of surgical care.
Target Audience
Magvation targets hospitals and surgical centers aiming to reduce surgical errors, improve patient safety, and enhance operational efficiency in the operating room.
Features
- CoBot-enhanced system designed to work alongside surgical teams, not replace them
- AI-powered automation of surgical sharps counting to minimize manual errors
- Mobile Surgical Platform (MSP) for real-time actionable case informatics
- HayCheck: Interactive app for standardized surgical safety checklists with HIPAA-compliant data repository
- HayDoc: Heads-up app for surgeons to communicate safely and compliantly during surgery
- HayBeats: Interactive app for surgeons to listen to music with noise level guardrails and voice-recognition
- Infrastructure-as-a-Service (IaaS) delivery model