Mindstrong Health is making waves in the healthcare industry with their new AI based technology platform. This platform uses smartphone usage in order to track and record brain function. According to an article by PatientDaily.com, in just the first round of funding, they were able to secure $14 million in funding from Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund. This technology is likely to lead to a breakthrough in the mental health area thanks to its innovative design. It has the potential to change the lives of anyone suffering from a mental disorder, and it will also allow the people in the healthcare field to better understand mental health and brain activity.
Info from Market Wired says that the platform was created in order to record the pattern of smartphone use, like scrolling or typing out a text message, and integrate that into the measurement of cognitive function. This will provide information about the person’s cognition, biomarkers, mood, and memory. Currently, mental disorders are diagnosed in a subjective manner and it is difficult to fully understand them the same way we do more physical ailments. Mindstrong seeks to eliminate this subjective practice of diagnosis and transform it into a factual process. Instead of being diagnosed in an uncomfortable and clinical setting, the data will be recorded throughout an average day. This will result in a more accurate diagnosis and will benefit the people struggling with mental illness.
Foresite, one of Mindstrong Health’s main investors, is very excited about this new technology. Their CEO and Managing Direction, Jim Tananbaum, believes this will be revolutionary in the healthcare industry as well as in investing. He believes this platform will not only save lives, but it will also save the healthcare industry a lot of money on some of the avoidable injuries that result from mental disorders.
Jim has been heavily involved in the healthcare and investing world for 25 years. Jim Tananbaum attended Yale, Harvard Medical, Harvard Law, and MIT. He has spent the last 25 years creating and aiding various medical franchises. Check out his Linked In page to learn more.