Conflixis operates in a competitive field of health industry compliance software companies, but Narva believes its unique approach sets it apart. The company combines its team's experience in investigative work with legal expertise to identify patterns in data related to transaction monitoring and corruption. The aim is to help hospitals reduce regulatory risk, increase transparency with patients, and make better operational decisions.
Key takeaways:
- Aaron Narva, a former incident investigator, founded Conflixis, an AI-powered software-as-a-service that identifies legal and operational risks in hospitals and big medical practices.
- Conflixis works by analyzing data from various sources such as OpenPaymentsData.com, the hospital’s procurement data, patient outcomes records, and conflict-of-interest forms to identify potential risks and suggest ways to reduce spending.
- Conflixis, founded in 2023, has already generated just under $5 million in revenue and recently raised a $4.2 million seed round co-led by Lerer Hippeau and Origin Ventures.
- Despite competition from other health industry compliance software companies, Narva believes Conflixis stands out due to its unique approach of combining investigative work with LLMs and its ability to identify patterns in data related to transaction monitoring and corruption.