Taking Action to Fix Healthcare: Digital Solutions for Macro Issues
As the population ages and lifespans 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 the 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 recently sat down with Lucie Glenday, self-described geek-entrepreneur. She is the founder and CEO of MySense.ai, a digital-first health analytics company that 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.
Lucie's journey to health-tech CEO isn’t a straight shot; she began her career training to be a barrister in London. She changed course and spent several years in global management consulting where she nurtured her passion for enterprise data management and digital infrastructure. Her journey shifted again when the British government selected Lucie to lead a massive, multi-year digital transformation program designed to organize and improve access to government services information for citizens.
A few years later Lucie helped lead a pilot program at a struggling government-funded residential care facility for patients with dementia. Lucie explained, “We monitored the patients’ general behavior and vitals using simple sensors. In just one month, we saw significant patterns and could infer correlations between certain behaviors and changes in well-being.”
The success of this program lit a spark in Lucie, one that would keep her awake at night. A startup was born.
Like any true entrepreneur, Lucie recalls “hacking a lot of off-the-shelf technologies, calling in favors from family and friends, and even using my own code.” She surrounded herself with a passionate and talented team—many of whom have had the personal responsibility of providing long-term care for a loved one. This team has helped make MySense.ai what it is today: a simple-to-use health analytics platform.
“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,” explained Lucie.
MySense.ai 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. As Lucie says, “things have gone a bit mad in a very good way.”
Lucie will join us on stage at ParadigmShift 2018 in Toronto to share how Mysense.ai is quickly scaling this product up and across the globe. Her conversation with Mark Collin, Group Director, Ventures, at ThoughtWorks, will explore:
- Navigating a complex global ecosystem
- Prioritizing and balancing competing demands and opportunities
- Consumer data ownership, privacy, and the role companies have to protect data
- Setting criteria for distribution, retail, and manufacturing partners
- Identifying and hiring for the capabilities they need to scale
More from the 3-Part Series
Part 1: Craig Miller, CDO/CIO at Planet Fitness | Part 3: Toby Lennox, CEO of Toronto Global