There are 6,500 imaging facilities in the United States, where diagnostic imaging is conducted each year. Last year over 700+ million radiologic studies were conducted, and the number is growing each year at about 6-12%. MDW will provide a convenient access to a large selection of reading radiologists which will perform work on demand at below current market rates. Additional benefits are; monetizing de-identified imaging data, and store studies at no cost.
Radiologists have access to large volume of work on-demand and get paid for it immediately at the conclusion of their reports ("cash now" concept). Additionally, reading radiologists have the ability to contract on a fractional pay as you go basis and perform draft and preliminary interpretations, cutting time required to complete the report. Additional benefits are; make extra revenue by annotating imaging data for AI companies, and participate in crowd reading.
Get access to the data and radiologists. Building state of the art algorithms in machine learning, aiming to assist doctors in quickly identifying anomalies and improving their workflow, requires large data sets. Today, such datasets are not readily available, and companies spend a lot of time and resources to acquire it. MDW will provide them a one stop shop for such data and talent to crowdsource analytics and custom requests.
Approximately 700 million exams are performed annually in the U.S. alone. Globally, radiology market is worth more than $20 Billion annually.
Radiology procedures are spread out among 6,600 imaging centers and 5,500 hospitals.
A shortage of radiologists contributes to an increase in diagnostic medical errors and longer wait time for diagnostic reports.
Imaging facilities are struggling to sustain high professional cost associated with maintaining staff radiologists, which boosts the demand for teleradiology services.
The increasing pressure from referring physicians and hospitals to step up exam turn-around-time contributes to a nationwide shortage of radiologists who want better work conditions.
Increasing population, improved standards of living around the world and broader availability of diagnostic imaging are contributing to exponential growth in imaging volume.
Last year over 700+ million radiologic studies were conducted in the USA and over 2 Billion globally. These studies including MRI, CT, Ultrasound, X-ray, Mammography and PET/CT serve as the foundation for diagnosing various medical conditions and illnesses.
There are about 34,000 Radiologists in the US, 1 for every 9,400 Americans, and this is a good ratio. However, there is an acute shortage of Radiologists after hours as well as subspecialists. Many other countries in the world are also facing and outright crisis with Radiologist availability.
Multiple Artificial Intelligence companies are entering the market space with the goal of creating algorithms to help physicians become more efficient. However, their efforts are hindered by lack of large, properly anonymized data sets, HIPPA compliance issues and shortage of radiologists to work with these datasets.
The MDW platform cost-effectively harnesses the power of the medical imaging community to deliver image interpretation though blockchain technology. Patients, referring physicians, radiologists, cardiologists, other medical specialists, diagnostic facilities, hospitals, private and government payers, legal practices and more can order interpretation through credentialed platform participants.
MDW is strategically positioned to solve
key issues facing medical imaging today
Need for demonstrated quality improvement
High cost of radiology staffing
Frequent exam duplication
Lack of IT interoperability
Lack of access to the benefits of artificial intelligence
Escalating demand for subspecialty reading
Fragmentation of radiology service delivery
Lack of standardized radiology reporting
MDW is strategically positioned to solve
key issues facing medical imaging today
Crowd reading to improve the final outcome
Access to a large radiology marketplace
Streamlined image sharing through blockchain technology
Access to prior exams as needed
Readily accessible artificial intelligence tools to streamline image analysis and reporting
Subspecialist availability as needed
Radiology marketplace-driven efficiency
Standardized ACR structured reports
The MDW platform complements but does not replace existing PACS and other imaging technologies to support secure cross-enterprise data exchange and streamline financial transactions. Imaging centers, hospitals and radiologists joining the platform to will gain enhanced data communications abilities, workflow efficiencies and access to greater business volume. Patients can upload exams to the MDW platform anonymously and securely for second opinions and even crowd-sourced readings. By creating this global data repository of diagnostic information, MDW breaks data silos and allows physicians to collaborate to solve real problems in modern healthcare.
Official MDW formation
Closed private round to fund development of MVP and legal structure
MVP deployed, first pilots with select clients
MDW platform under development, initial client onboarding
General product availability.
Pilot projects. PR and marketing
push to support customer adoption
MDW Fills Major and Growing Needs
- Mature, yet quickly expanding industry: over 2B/yr transactions in radiology alone
- Increased imaging complexity requires subspecialty radiologists, which is adding to the global shortage of qualified radiologists
- Healthcare consumerization underway with a CMS push for the patient-accessible data
- HIPPA-compliant sharing of imaging data among care providers is an important priority
- Development and wider adoption of artificial intelligence based solutions is hindered by shortage of good data sets and specialists
- Currently less than 10% of all studies are interpreted by teleradiologists. This percentage is expected to increase in the coming years
- Accessing patient and physician data is a major issue due to lack of transparency and interoperability across legacy systems. These records are scattered across proprietary PACS systems - and even filing cabinets
Michael is a seasoned executive, serial entrepreneur and an investor with over 25 years in high-tech industry and a proven record of building, running and selling businesses in the technology space. He founded a string of successful companies beginning with Ectaco, Inc in 92 - a leader in handheld linguistic reference devices. In 2000 founded MobiDealer, developer of a distributer ERP solution and later successfully sold it to a major customer. In 2002 co-founded DynoPlex and lead it to become one of the largest independent software vendors for the BlackBerry platform, sold it to Quickoffice in 2008 and later, in 2012 combined company was sold to Google. Following acquisition by Google co-founded iDealMachine an early stage venture fund and startup accelerator focusing on investing and helping to build cutting edge technology companies. In 2015 assumed an executive position with one of the portfolio companies, Universal Software, a cloud based ERP solution for Imaging and Teleradiology industry.
Sergey is a serial entrepreneur, technology executive and visionary with over 30 years of experience building successful businesses in the field of mobile apps, healthcare services and enterprise software. He founded a pioneering mobile platform startup in 90's, helped raise over $40MM in venture funding and grew the company to over 200 people. He also created one of the largest BlackBerry ISV companies with no outside investment, sold it to a competitor, Quickoffice. Later the combined product was sold to Google and incorporated into Google Drive. Recently, Sergey served as an advisor to several companies in the blockchain and cryptocurrency space. He graduated magna cum laude from Hebrew University in Jerusalem.
Edward is a seasoned leader with over ten years' experience in successfully conceptualizing, building, and commercializing solutions in a variety of industries, specializing in Healthcare and Software Development. Mr. Kantor started his career in 2006, as the Founder and CEO of a reputable portable diagnostic company in the Greater New York area, servicing over 200 clinics. In 2012, Mr. Kantor founded Universal Software Corp., with its flagship product EMSOW. A cloud ERP solution for Imaging and Teleradiology industry. Edward holds a BA degree from Bernard Baruch College.
Alex is an expert in healthcare virtualization technologies and brings extensive leadership experience in healthcare IT infrastructure. He has over 20 years of experience as a Systems Managing Administrator and Information Technology Executive in International Banking and the Medical field. Since 2002, Alex has worked exclusively in the medical imaging/radiology and healthcare IT field as an executive. He graduated in 1989 from St. Petersburg State University of Information Technologies, Mechanics and Optics (University ITMO), world's leading IT/technology university, where he earned a Master of Science degree cum laude.
Michael is a physician, serial entrepreneur and techno geek who founded USARAD Holdings Inc (including SecondOpinions.com division), backed by Siemens Healthineers, vRad founders and other investors. Michael is double boarded diagnostic radiologist trained at preeminent institutions including New York University and Thomas Jefferson and has an extensive training and experience in multiple advanced modalities including MRI and Cardiac CT. He received MD degree from SUNY Brooklyn and executive MBA degree in Healthcare from GWU.
Founder of MDLIVE Inc. 30+ years of experience launching and building successful, disruptive companies. Significant relationships at the highest levels with a broad range of the country's premier health organizations. Prior to MDLIVE, he served as CEO of several other companies, including Flexplay Technologies, Clear-Vu Products, and Entertainment Resource. Degrees of Business and Public Administration from New York University.
Former Chief Regulatory Attorney for the Illinois Department of Registration and Education. Represented over thousand healthcare practices and medical groups in various governmental, regulatory and medical compliance matters in over 30 US states. Nationally recognized speaker on licensing as well as regulatory and professional disciplinary matters.
Graduated from University of Illinois, College of Law, J.D.; University of Notre Dame, B.A.
Advisor, Healthcare Mergers and Acquisitions, 19 years providing high-performance strategic leadership in the medical/healthcare industry with a national footprint. Presently Vice President Of Business Development, Mergers and Acquisition and Clinical Integration, Envision Healthcare. Diagnostic Radiologist and serial entrepreneur. Residency in Diagnostic Radiology at Michigan State University. MBA at Northwestern University, Kellogg School of Management.
Maxim serves as a Senior Advisor to Fraser Finance LLP - a technology M&A boutique headquartered in London. Maxim is a banker with over 25 years of experience in direct investments, M&A, capital markets and financing transactions. Maxim has advised private and state-owned companies on capital raising and direct investments and sat on the boards of technology and media companies. Maxim is a CFA Charter Holder and has an IMBA degree from the Schulich Business School (Canada).