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Personal medical devices track an ever increasing amount of patient information away from the hospital. Coupled with quantitative self devices such as fitness trackers or calories counters, provide valuable information as the condition of a patient. Digital Health is growing a new realm of opportunities for biospace professionals. Yet challenges exist. Medical information software are archaic and siloed. Medical system is slow to adopt.
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Enabling Remote Patient Monitoring
Opportunities and Challenges
Previously <200 years ago
People died young
Main cause of death was acute
Main cause of death was acute
Innovation focused on solving acute problems
Dramatically increasing life
Currently
People live long lives, face other risks
Chronic Conditions are responsible for most deaths
Chronic Conditions are tied to 75% of the costs
Require Monitoring and Management
Management Traditionally Provider Driven
Diagnosis, Treatment and Management
Top Down Approach Doctors see patient at their office
Expensive Significant Time from Medical Staff
Limited Efficacy Lifestyle unaffected
Future
In Theory
Patient Choice
Ubiquitously Present Part of Your Life
Continuous Feedback Annotating Everything
Patient Driven Or at least engaged
Old and New
Challenges
EMR not designed to support remote monitoring
Low reimbursement for monitoring or prevention
Federal Guidelines Still Unclear
Technical adoption is slow in medicine
At the same time…
Development and manufacturing costs have
dropped At least for non-FDA devices…
Computational power has grown dramatically
Digital Health Data Next Big Frontier
Devices Generate Most of the Data Today
Data Represents Challenge and Opportunity
Traditional Healthcare Industry Stores
434 petabytes of data
Making Sense of it is Non Trivial
Additionally
Personal Health Data is growing rapidly
Many self-monitoring options FDA & QS
Examples
FitBit
Withings
BodyMedia & Jawbone
Basis
vimeo.com/45229049
Opportunities
Patient Monitoring
On sites like IndieGoGo
Crowd Funding
$846,675 in preorders
Misfit Shine
$ 1,664,375 in preorders
Scanadu
Crowd Testing
“Right now we are giving you access to our first version of the device as an exploratory
tool, where you are the researcher! By helping us collect data, we can file our
application to the FDA for market approval as an over-the-counter consumer-grade
diagnostic tool.”
Scanadu is not yet FDA approved
http://www.indiegogo.com/projects/scanadu-scout-the-first-medical-tricorder
CrowdTesting Platform, IndieGoGo Partner
HealthTechHatch.com
Personalized Diagnostic Services
Drug and Therapy Trials
New Delivery Vehicles and Devices
vimeo.com/45229049
New Distribution and Market Ecosystem
Summary
Challenges remain
A lot of new opportunities
Next 3 years crucial
