Telemedicine is a high priority but the market remains immature, Sage Growth Partners reports
With increased potential for new technologies to reshape the healthcare industry, Sage Growth Partners have looked at the way telemedicine will seek to take the industry into the next century, with increased demand for direct-to-consumer (DTC) technologies.
The survey, Defining Telemedicine’s Role: The View from the C-Suite, looks at how the emergence of new technologies, from electronic medical records, to diagnostic imaging services, will significantly impact the way in which patients are treated in the future.
Despite this. limited budgets, resources, changing regulations and continual concerns surrounding access to universal healthcare coverage for those in areas of poor healthcare infrastructure, have led providers to hold back on adopting telemedicine services.
With research conducted with over 100 healthcare executives, the survey looks at how telemedicine will transform the delivery of patient care. Over half of its respondents (56%) have stated that telemedicine has been adopted at their organisations, whilst the majority of non-adopters have placed it as a priority.
Highlighting the long-term potential to connect patients to providers and reshape specialist areas of care, such as neurology or neonatology, increased data protection and integration remain key drivers in the adoption of new healthcare services and solutions.
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“On the higher end of the acuity spectrum, emergent use cases such as telestroke have become more mature, to the point that they are widely acknowledged to have transformed the standard of care,” the report states.
“On the other hand, the value proposition of in-home remote patient monitoring (RPM) is evolving under value-based reimbursement, as organisations seek to enable elderly patients to age at home as they attempt to manage the total cost of care, often spurred by triggering events such as financial penalties for readmissions.”
A high number of healthcare providers are either working, or planning to work with a number of vendors to implement new, telemedicine solutions to support the growth of a consumer-centric healthcare model.
“We are looking at telemedicine as a program that can expand our reach, making it more convenient for existing patients, or allowing us to attract new patients into our system. With millennials, being seen at their convenience is more important than building a relationship with a physician over time,” one COO who undertook the survey has noted.
Surprisingly, the majority of healthcare professionals surveyed have also stated that although building a solution in house would lower costs of implementing telemedicine solutions, it would have limited resources in maintaining such a complex technology. Over half of healthcare executives surveyed have partnered with telemedicine vendors who can provide the required expertise to deliver a comprehensive solution across its healthcare domains.
NeuTigers: edge AI in healthcare
What is edge AI?
Edge AI is essentially a combination of edge computing and artificial intelligence. Algorithms are processed locally - directly on a mobile device or server - rather than in the cloud. This reduces cost, computing power and energy requirements. There are also claims that edge AI is so fast it is possible to reach near real-time analytics.
Edge AI devices include smart speakers, smart phones, laptops, robots, self-driven cars, drones, and surveillance cameras that use video analytics.
Who is NeuTigers?
NeuTigers is a spin-off company from Princeton University, formed in 2018 to apply edge AI and machine learning to solve challenges in healthcare, energy, productivity, and security.
With offices in Princeton, NJ, the company is based at one of the top AI accelerator programs of FutureLabs in New York, and has also established a subsidiary in Nice, France.
How is NeuTigers applying edge AI to healthcare?
The NeuTigers AI Technology Stack uses deep neural networks that mimic how the human brain perceives and interprets the world. The company has developed the StarDeepTM Smart Health Platform for health monitoring and biomedical imaging, to improve the accuracy and speed of diagnosing diseases.
NeuTigers say the platform has the potential to monitor and screen for thousands of conditions, when used in combination with medical devices and smart sensors already deployed in healthcare settings.
Are there any real world examples?
In January NeuTigers launched CovidDeep, a tool that predicts COVID-19 with more than 90% accuracy, using physiological data from a wristband along with blood pressure and blood oxygen readings. It then analyses the data and gives a prediction within two minutes.
This week NeuTigers announced a new study to detect the early signs of complications with sickle cell anaemia. Conducted at a hospital in Paris, the research will begin by looking at changes to skin response, heart beat, sleep and temperature to predict an acute episode of sickle cell anaemia, and how this impacts on the patients’ disease conditions and quality of life.
The second phase of the project is to expand with prospective studies across different sites in EU, Africa and the US to explore the models' accuracy and clinical effectiveness.
Adel Laoui, CEO and founder of NeuTigers, says: “The best way to deal with a crisis is to avoid it happening in the first place. We are now entering a new era where medical early warning systems have become a reality.
“We are excited at the possibility of deploying a technology that can save lives of patients dealing with sickle cell anaemia. The potential of the StarDeep platform to dramatically improve patient outcomes while slashing some of the highest costs of healthcare makes it one of the most exciting developments in preventative personal medicine.”