As the population ages and life spans increase, insufficient and inefficient healthcare systems are under enormous pressure to provide improved long-term care solutions for elderly and chronically ill patients. The demand for in-home healthcare services is rising, given benefits such as improved patient outcomes, cost efficiency, and fewer hospitalizations.
By 2025, the global home healthcare market is anticipated to reach over 517 billion USD.
Advances in home-health technology drive a large portion of this booming market. We partnered with MySense (Formally T7), a digital-first health analytics company, to build a simple-to-use health analytics platform.
The platform uses the power of IoT hardware and AI to understand, predict and ultimately, preempt the acute healthcare needs of the elderly and people living with chronic, debilitating conditions. The platform allows patients (and their loved ones) to monitor their health at home and identify declines in health in real-time.
MySense is very quickly on its way to helping families in more than 100,000 homes in the U.K., with several thousand more planned in Thailand, Turkey and soon, Canada.
People said we were wrong to try to solve hardware, machine learning, and user experience all in one go. Typically, a business only focuses on one area. But this integration is critical; we were able to get hardware and software development cycles in sync, which was a big breakthrough.