5 Companies Transforming Remote Monitoring for Seniors
Remote Patient Monitoring involves utilizing special devices such as blood pressure monitors, glucose meters, heart rate monitors and wearable activity trackers that can be used by patients at a remote location.
Up until recently, remote health monitoring required expensive equipment and dedicated connections that were provided by such giants as Philips and GE. Today, with the increasing use of smartphones, these devices are more affordable relying on phones’ built-in connectivity to send collected data to caretakers and family members. These devices are typically used to provide better chronic care management while keeping the cost down, as well as to enable healthcare providers to continue care management once the patient leaves the hospital.
In addition, smartphone-connected devices could also help seniors live more independently in their own homes. And in this article, we want to highlight 5 startups looking to transform remote monitoring for seniors. There are more of them in our Senior Care 2.0 report…
Headquarters: Plantation, Florida, United States
Funding Amount: $10.2M
Select investors: Las Olas Venture Capital, Secocha Ventures, Vectr Ventures, StartUp Health, HealthTech Capital
CarePredict is one of the first companies using AI to help care for older adults. The company has developed and patented its platform to continuously observe, learn and trigger just-in-time care for seniors. The solution combines a Tempo wearable sensor with sophisticated machine learning algorithms and smart location technology to measure the activity and behavioral patterns of residents, enabling senior living community staff members to intervene before health emergencies occur. CarePredict's products currently are being used by senior living communities in the U.S. and Canada to help predict when residents are at risk for falls or urinary tract infections or are depressed, according to the company. It also plans to expand to Japan, China, Argentina and Brazil.
Headquarters: San Diego, California, United States
Funding Amount: $21.3M
Select investors: Miramar Ventures, City Hill Ventures, EvoNexus, Silicon Valley Bank
Independa, Inc. enables remote engagement and care services by leveraging its award-winning software platform to integrate across the TV and other everyday devices. Founded in 2009, the company helps people stay at their residence of choice longer, safer and more comfortably, to delay or even avoid the next episode of care, while also increasing organizational effectiveness and operational efficiencies in independent living, assisted living, memory care and short term rehab communities. On the other hand, the solution allows friends and family of loved ones to remain actively engaged from a distance so they can care, even when they can't be there. Independa's products include the AnyTV Device, available for $199; and, HD Camera that attaches on a TV ($99). Also, there's the $49.95/month service as well as one-time setup & handling that costs $49.
Headquarters: Rolling Meadows, Illinois, United States
OneLife Technologies dubs itself a mobile medical software and data collection company with a suite of proprietary, patented, medical grade wearable tracking technologies designed to provide patients, physicians, nursing homes, and hospitals with 24/7 real-time centralized, personal, comprehensive health data. One of its products, the OnePulse smartwatch comes with a five-day battery life, always on feature and light weight design. As such, it is described as a "valuable tool" for the medical provider to monitor chronically ill and elderly patients who plan to "age in place". To that end, it provides medication reminders and auto prescription refills, fall detection, a customizable suite of services for specialty conditions, fully encrypted medical records, and AI-based analytics and predictive analysis. In addition, thanks to the Open API, other apps and services could be connected to the system, including EHR/EMR platforms.
Headquarters: Minneapolis, Minnesota, United States
Funding Amount: $850K
Select investors: Microsoft Accelerator, ReadWrite Labs, Innova Memphis, Jumpstart Foundry, Treehouse Health
Reemo Health has developed a senior-friendly remote mobile health platform that connects live personal health data with support networks to improve health and wellness outcomes. Said platform relies on inputs from the Reemo Smartwatch to strengthen the connection between wearers and support networks, while helping improve experiences and health outcomes. From remote monitoring to key risk indicators and wellness reporting, Reemo elevates a personalized approach to health through proactive adjustments and earlier intervention. Wearing Reemo increases health engagement, giving peace of mind to wearers wherever they go.
Headquarters: Yehud, Israel
Walabot Home, developed by Vayyar Imaging, is a sensor that can penetrate walls and detect motion, such as when a senior citizen falls down and needs help. The device is designed to placed on the wall from where it can model a home in 3D, detect motion, sense a fall, and automatically place a call for help without requiring a wearable. Walabot Home does not require further action once it's been set up and can work in a wide range of conditions that cameras cannot, including steam and darkness, and can sense through objects like curtains and glass walls. It costs $250 and doesn't include any monthly subscriptions.
We cover more companies in our report, Senior Care 2.0. You can check it out from here.