Maverick Medical AI has announced that it has raised $700,000 from The Time, the leading Israeli technology incubator in the field of Artificial Intelligence, together with the Israel Innovation Authority.

The funding will be utilized for the company's development of its medical artificial intelligence-based solutions for identifying chronic disease in elderly populations based on text-based analysis of medical reports, and for implementing its solutions with U.S. healthcare providers and insurers.

Maverick AI is developing an advanced AI software system based on NLP (Natural Language Processing) and Machine Learning identifies clinical risk factors out of medical reports such as specialist and hospitalization reports. These risk factors are chronic diseases that may not be fully documented in the elderly patient's medical record due to the excess of information available to the attending physician, and may therefore be overlooked. 

The Maverick AI system assists physicians, healthcare providers and insurers to identify these risk factors thereby ensuring better medical care to the patient and to reduce medical care costs by preventing complications. The benefits offered by the system provide substantial value to the Medicare Advantage Plans and other value-based care programs.