We take a look at this week’s biggest developments, research and investment news from the world of Health Tech.
Following this week’s AI Summit in London, Wareable break down the role of AI in the future of healthcare. AI has been a buzzword in tech for a while now; one of its biggest benefits in the wearables space is its ability to analyse and make sense of the huge amounts of data that connected health devices produce. The aim then being that humans can take this information and make it useful. Philips and IBM’s Watson amongst others give their view on “anatomical intelligence”, ethical AI and what AI has done and could do for the healthcare industry.
The report found 73% of healthcare execs believe the IoT will create disruptive change in the industry within three years, however only 49% think their organisation’s leadership understands what the IoT could mean to their organisation. By not realising its potential, the report says healthcare execs could be missing out on a variety of benefits ranging from cost savings to improved customer attraction and retention. The value of the IoT in healthcare will top $163 billion by 2020, with a compound annual growth rate of 38.1 percent between 2015 and 2020, the report said, citing data from eMarketer.
CEO Yunha Kim, former investment banker, created the app to deal with her own stress but saw the potential in bringing the benefits of the platform to others. The app offers more than a thousand guided meditations from famous mindfulness teachers; they are aimed at particular symptoms or life situations like insomnia or a long day at work. “We aim to help millions of people throughout the world live more mindfully,” Kim said in a statement. “This new round of financing will allow us to expand our team in San Francisco.”
The US based company makes a mobile-based electronic healthcare record (EHR) for specialists focusing on catering to the specific needs of various different medical specialists. The company hired practicing physicians during the development process to work with engineers on the technology. They specialise in using AI to create insights, which are then delivered back to the physician. “Modernising Medicine continues to explore how cognitive computing can play a role in healthcare,” a representative wrote in an email.
Beddit, a Finnish business founded in 2007, specialises in tracking sleep. Apple’s move is being seen as one of its latest attempts to secure its place in the health and fitness market. The Beddit sleep tracker, which retails for £130 consists of a thick strip of sensors placed on top of a mattress and connected to a wall outlet for power. Through the Beddit app (available on Android or iPhone), users can track their sleep quality, heart rate, breathing rate and snoring. Apple yet to feature sleep tracking within the iPhone health app or the Apple Watch apps so some say this will be filling a gap in their health offerings.
Care Sourcer allows care seekers to complete a short form through an online platform, which is then shared with local providers who can contact the care seeker directly with their availability. The Scottish based health tech firm was founded when CEO Andrew McGinley, who previously worked in the care-at-home industry found the process of securing care was “completely inefficient” and those seeking care had to call a number of local providers to check for availability. “It means care can be arranged in a matter of hours, rather than days,” McGinley said. Carers across Birmingham, Edinburgh, London, Manchester, Newcastle and many more cities around the UK now use the platform.
DeepMind use an NHS created algorithm to alert doctors to patients whose health is at risk, creating “breaking news” style notifications via a smartphone app called “Streams”. Despite DeepMind’s specialism in AI, the app does not currently use the technology; however this is all set to change. Senior Clinician scientist at DeepMind Dominic King sees a future where AI will be behind the information being delivered but the challenge will be in actually delivering it. “We think it [AI] can really help the NHS and the current challenges it faces, but I would say strongly that for clinical impact, we need solutions that are both practical as well as smart,” said King.
The Utah-based company is targeted towards employee benefit managers, helping them understand where their money is going in regards to health benefits and how it could be used more efficiently. “Data is at the heart of business decision making, but employers struggle to access actionable, up-to-date data on what they spend on employee healthcare,” Grant Gordon, CEO of Artemis Health, said in a statement. “We’ve been busy putting this funding to work to grow our incredible team, reach more clients, make the Artemis Platform more powerful, and ensure that our customers can easily capture the value in their data. We’re well-positioned to lead the complex work of reducing healthcare costs for employers and employees.”