Alcidion raises capital for further expansion of Miya platform
Adelaide-based health informatics firm Alcidion has conducted a capital raising exercise to fund the expansion of its Miya technology platform.
Alcidion has raised $1.5 million from Blue Sky Private Equity, a division of listed firm Blue Sky Alternative Investments, as well as from the company's co-founders, Ray Blight and Malcolm Pradhan, and from technology entrepreneur and Alcidion board member Nathan Buzza, through his Allure Capital boutique investment firm.
The new capital raising follows a $2.4 million investment by a fund managed by Blue Sky in 2012. This allowed the company to further develop Miya, which has been designed for emergency departments, patient flow and outpatient services.
Miya is the platform behind Western Health's iAward-winning intelligent Cardiovascular Information System (iCVIS), which was developed in association with Fujifilm Medical Systems.
As Mr Blight told Pulse+IT last year, Miya is able to extract data from any clinical, administrative or logistics system in a hospital, including point-of-care devices, and marshal that data in a way that makes sense in terms of mitigating the patient's clinical risk.
“Miya harvests the data and then prompts the best practice clinical protocols for chest pain to remind the clinician of all the different parameters that they need to consider, and then records the decision made, such as whether this patient has got to go off for an ECG for example,” Mr Blight said.
“It then monitors the fact that an ECG actually gets booked, actually gets carried out and makes the results of the ECG available to all members of the care team.”
However, Mr Blight said Miya can support any healthcare problem resolution, regardless of which medical or surgical discipline is caring for the patient.
Miya is being used for a number of clinical and patient management applications at Victoria's Western Health as well as by the departments of health in the Northern Territory and Tasmania.
For patient flow, it is being used at Western Health for its intelligent patient journey system (iPJS), which has been rolled out at Footscray, Sunshine and Williamstown hospitals.
The Northern Territory Department of Health is rolling it out at Royal Darwin and Alice Springs hospitals, and the Tasmanian Department of Health and Human Services has also contracted Alcidion to deliver Miya Patient Flow as well as an integrated outpatient system.
Miya also forms the platform for the advance care directives repository built by the Cradle Coast eHealth site in northern Tasmania as part of the PCEHR roll-out. A federal Department of Health representative told a Health Informatics Society of Australia (HISA) seminar in Sydney last week that the functionality to upload advance care directives was now designed and was waiting prioritisation from the federal government to begin implementation.
Alcidion has also worked with the Cradle Coast on an eReferrals project, building an eGateway to allow eReferrals to be sent from GP software to area health service hospitals.
Mr Blight said one of Miya's benefits was the ability to add incremental modules without the burden of costly and cumbersome implementation processes or the need to purchase different departmental products.
Blue Sky Private Equity director Alexander McNab said in a statement that Miya represented “one of the most significant innovations in clinical decision support the industry has seen in decades and the newly raised capital will help bring the breakthrough solution into the mass market”.
Mr Buzza said one of the greatest challenges in healthcare is providing a high quality of interoperability with the myriad of clinical systems now used. "[T]hat’s what Alcidion has done exceptionally well with the Miya platform,” he said.
Posted in Australian eHealth