This week I have a conversation with Brock Ford, co-founder of MedaData.
MedaData is setting out to save lives by minimizing medication errors.
We chat about the cost of these medication errors, why this problem has never been solved, the data-driven solution being built, the regulatory challenges of medical tech, using said tech to build trust, and how one small tool could change the face of medicine.
Brock and co-founder Siobhan Kelliher recently completed the LuminaX healthtech accelerator program. Together they won the “Startup of the Year” award, and individually were both nominated for “Young entrepreneur of the year” awards.
To find out more about MedaData, investing, or signing onto becoming a customer, you can get in touch with Brock by emailing brock.ford[@]medadata.com.au
Links
The full report that details the volume of medication errors in Australia (Report | 32 pages)
A summary article of the above with additional opinions (Article | 4 mins)
Software as a Medical Device regulation that MedaData would fall under (Policy | 15 mins)
MIMS, one of the medical databases that MedaData draws from and who they are developing a partnership with
ViralCheckRX, the MVP that Brock built that is currently in use
Paxlovid, a recently-released antiviral aimed at treating COVID-19
Best Practice, the practice management software who are in early stages of a partnership
Show notes
[00:01:23] - [First question] – What is MedaData and what are your goals?
[00:02:10] - The scale of problems surrounding medication errors
[00:04:29] - The root causes of medication errors
[00:06:01] - How Brock’s background factors into founding the company
[00:06:56] - The depth of research Brock and Siobhan did to understand the root cause of the problem
[00:08:36] - What a potential solution could look like, and where could it be most useful
[00:10:45] - Sourcing medical data to make recommendations on medication
[00:11:36] - Why some parts of the process shouldn’t need human input
[00:13:33] - Why Paxlovid was the first drug that MedaData used in the MVP
[00:16:45] - The role non-identifiable patient data plays in making a recommendation
[00:18:49] - How this benefits clinicians
[00:20:22] - The regulatory environment around building this kind of software
[00:22:44] - Navigating not just one set of regulations, but new ones in every expansion country
[00:25:18] - The risks associated with operating in such a fragmented cyber-infrastructure environment
[00:27:56] - Current traction and feedback on the MVP
[00:30:00] - The status quo and the competitor landscape
[00:33:57] - The next steps for MedaData and integrating into practice management software
[00:36:50] - Building networks with clinicians and selling into a notoriously difficult market
[00:38:08] - The dream partnerships to build and raising money to scale
[00:39:53] - What the world looks like if it all pans out
[00:42:37] - Brock’s personal committment to seeing it through
[00:44:38] - Getting in touch with MedaData - socials and emails
Episode 6 - Saving lives by minimizing medication errors