Investment will support commercial launch of patient education consent
videos.
EDEN PRAIRIE, Minn. — inFormed Consent, a Minnesota based company which has developed a series of digital consent videos, announced the successful closing of it’s initial seed round of 2 million dollars. The concept for the consent app was created by Dr. Dan Kloster with the goal of improving patient understanding of a proposed surgical procedure. He recognized that many of his patients had a difficult time remembering what he told them about their procedure.
Studies indicate patients, in many cases, have poor recall of the risks, complications and alternatives provided by their physician during the consent process. In some cases the retention rate of important information presented is less that 25 percent.
The app provides a video of the information required in the informed consent discussion on an iPad. The content within the video presents all of the information patients have the right to hear when determining if they are comfortable moving forward with the proposed procedure. The patient is provided a copy of the consent video which they can watch at home and share with family members and caregivers.
Studies have indicated that patients, overwhelmingly, want a record of the consent discussion that they can watch as they gain a better understanding of the elements involved in the procedure. Data suggests that patients will watch the video as many as three times which demonstrates the desire of the patient to be as informed as possible when considering surgery.
The app includes a patented feature which provides a record of the patient watching the video. The front facing camera on the iPad records the patient as they watch the video creating a digital record that is stored in an EMR and in the cloud. In the event there is a dispute related to the consent process a record of the video can be obtained for the physician.
Brad Hancock, CEO for inFormed Consent, indicated the support of the Minnesota Angel Tax Credit program was instrumental in closing the seed round.
“We are fortunate to operate in a state that provides robust resources designed to assist start up companies in the medical field,” he stated.
Currently, the company provides consent videos for spine, orthopedic, pain management, interventional radiology, plastic surgery, regenerative, bariatric and anesthesia specialties. The company is in the process of adding new consent videos for OB/GYN, Urology and General Surgery.
For information about inFormed Consent visit www.informedconsent.com.
