ASX-listed InteliCare has launched its latest product offering known as “InteliLiving Health Metrics”, which harnesses artificial intelligence to provide real-time reporting and insights of personal health metrics to assist in caring for the elderly disabled. InteliCare’s latest analytics offering integrates with wearable smart health devices to monitor personal biometrics in real time, enhancing its remote home and aged care facility-based smart monitoring solutions.
The health-tech company is successfully developing artificial intelligence, or “AI” to provide smart home monitoring devices and apps that help care for the elderly, the health compromised or the disabled.
Whilst the development of a new suite of analytics has significantly enhanced the functional capacity of the company’s flagship remote monitoring product range, it is the product’s connectivity with the US$45 billion wearable smart health device market that is potentially the holy grail for InteliCare.
Interestingly, InteliCare has pointed to market research that suggests the market for mobile health apps and associated remote patient monitoring could grow almost four-fold to a stellar US$166 billion before the end of this decade alone.
InteliCare’s Chief Executive Officer and Managing Director, Jason Waller said: “InteliLiving® health metrics is meeting an immediate customer need with a free offering. It is a clear example of how we are able to leverage our open architecture IoT platform to build and incorporate new products to meet a rapidly evolving market and remain ahead of the market. It is the first step in a much deeper strategy to exploit our competitive advantage and gain deeper insights from AI to drive more efficient, better care.”
The company’s trademarked InteliLiving smart home-enabled analytics product already provides the elderly or health compromised and their care teams with insights and alerts based on individuals’ daily activities and routines. The Health Metrics analytics now capture and record health data by both manual and automated methods via integrated smart health tracking devices like Fitbit.
According to InteliCare, members of a monitoring care team can now track multiple health metrics, supplied by devices like Fitbit, over various periods of time, from days, to weeks or months and even longer periods. Thresholds can also be set, via the company’s InteliLiving app or its InteliCare Pro dashboard to plot when abnormal metrics occur and alert carers when a monitored person’s daily habits step outside of the norm.
InteliCare’s initial InteliLiving health metrics product will be a free addition to the current product suite that will look to leverage competitive advantage and attempt to gain market share. InteliCare said further advances made to the value offering will likely become available as additional up-sell subscription tiers, as more technology advances become available.
Interestingly, Google acquired Fitbit just two years ago for a staggering $2.1 billion – and Google doesn’t tend to back duds.
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