InteliCare Holdings Ltd (ASX: ICR) has released a sizable update to its smart care solution with the implementation of over 60 health devices to its Health Metrics reporting.
The Australian technology company has commercialised a subscription-based Internet of Things (IoT) and Artificial Intelligence (AI) product for use in the aged care and health industries.
Significant Remote Patient Monitoring (RPM) capability increase
In March 2021, InteliCare announced the launch of its health metrics reporting feature. Now, InteliCare has significantly increased both the number and capability of health metrics products with the addition of over 60 new devices.
This is the result of the addition of TGA and FDA approved iHealth devices. The range also includes leading international brands, such as FitBit, OMRON and Garmin.
This includes the access to detailed information regarding their blood pressure, weight, respiration, body temperature, heart rate, blood oxygenation, blood glucose and activity levels.
This trend and behaviour data alerts carers to ongoing and emerging health risk, empowering them to adapt client care accordingly to prevent deterioration.
As well as being a differentiator from competitors, InteliCare will market this capability as a new product stream to unlock additional revenue. Partnership with Persona Infomatics Inc This expansion of InteliCare’s services is a result of a partnership with Persona Informatics Inc.
Persona allows smart devices to wrap raw digital data with semantic intelligence, enabling InteliCare to access and integrate health related data from numerous fitness and medical devices. The Persona partnership aligns with InteliCare’s technology strategy and platform capabilities.
The partnership will accelerate continuous and frequent updates as new health and senior care technology products and capabilities become available. This ensures growth, scalability, and the ability to leverage best in breed sensors and devices.
Sensor agnostic platform key to unlocking markets InteliCare’s open architecture enables the platform to be sensor agnostic. This ensures growth, scalability, and the ability to leverage best in breed sensors and devices.
It means all new Persona-supported wearable technology devices become immediately available within InteliCare’s system. This unlocks entry into complimentary sectors and markets, while future proofing the Health Metrics module.
Further access to large and growing RPM and mobile health (mHealth) markets InteliLiving’s Health Metrics Update unlocks further growth opportunities across these valuable RPM and mHealth markets:
- Immediate consumer smart wearable market. Seamless integration with iHealth, Fitbit and Garmin allows InteliLiving to tap into the current and growing wearables market for health and wellbeing tracking. Over 1.1 million smart wrist wearables sold in Australia in the first half of 2021.
- Post COVID Telehealth Market. The use of RPM devices, such as those announced today, is becoming key to successful delivery of telehealth, particular in remote areas:
- The Australia Government has allocated over $146 million to the regional care and telehealth market.
- Consequently, more than 86.3 million COVID-19 MBS telehealth services have been delivered to 16.1 million patients.
- Hospital at Home (HaH) and transitional care providers. In 2019-20, a total of 24,775 people received HaH or transition care, representing approximately 6 percent of hospitals days. RPM devices enable HaH providers to deliver these services remotely, more cost effectively by monitoring patients between visits.
- Preventive and Public Health Research initiative. Keeping Australians out of hospital has been consolidated into the Preventive and Public Health Research initiative under the Medical Research Future Fund (MRFF)10-year plan.
This $20 billion long-term investment supports the implementation of preventive health measures and tools for chronic health conditions, such as InteliCare’s health metrics.
Improves financial viability and profitability for existing and future home care clients
For InteliCare’s existing home care market, the data automatically syncs from these devices to the InteliLiving® platform, providing InteliCare’s clients with a 360° overview of health and wellness. Trend and behaviour data alerts carers to ongoing and emerging health risks, empowers them to adapt client care accordingly to prevent deterioration.
Timely access to this health data provides financial viability and profitability to care organisations due to the capturing of evidence that is used to justify the expansion of care and services. Additionally, tracking health data, carers can identify trends which are indicative of impending health emergencies, such as COVID.
The iHealth Air Pulse Oximeter, one of the newly compatible devices, displays and records blood oxygen. Low blood oxygen levels are an indicator of COVID, even when the client is otherwise asymptomatic. This gives healthcare workers instant and accurate access to information which empowers them to deescalate health risks for their clients and themselves.
