Four Australian small-cap and start-up executives give their take on what we might see from the medtech industry in 2022.
Four Australian small-cap and start-up executives give their take on what we might see from the medtech industry in 2022, as we work towards “living with covid”.
James Fielding, CEO of Audeara
As the world becomes ever more confident with digital-led healthcare, 2022 will see a flurry of adoption of clever ways to improve and track your health.
The need for in-person appointments with qualified professionals will never fade but there is so much opportunity to let the smart devices of our world do the data collecting and disease catching and let clinicians focus on what they should be focused on: their patients.
If what you need is a quick check of your child’s cough at night? Whip out your phone. Need that covid test before you jump on the plane? Plug it in. Feeling a bit off and thinking it might be your diet? All sorted by mail.
Some professionals fear the transition to digital and that is entirely understandable as there’s nothing more important than clinical confidence that you’re doing the best by your patient. That needs to be taken into account at a higher level and the focus must be on people getting the best care they can in the most effective way possible. Let the bots do the busy work and clinicians do the good work.
Craig Cooper, CEO of CardieX
I’m predicting a changing of the guard in 2022 in terms of “mega healthtech”, where those companies with the most access to data use AI to personalise health diagnostics and wellness programs. Amazon was the first to embrace this ecosystem with Halo. Now, we have Google + Fitbit, and rumours of Facebook entering the market in the next year with a new wearable device. In five years’ time, the new health tech giants will be the current mega-technology companies of today.
Philip Woolff, Chief Operating Officer of ECHO IQ / ASX: EIQ
Prediction: AI to take its rightful place in healthcare.
There has been a lot of talk around the impact of AI in our industry, and we’ve already started seeing this talk turning into medical trials and real beneficial outcomes for patients. The big change for 2022 will be that we will start seeing more people than the current clique of specialists starting to understand how artificial intelligence can be used to support better health decisions and outcomes in their fields.
With access to larger, more relevant datasets, the opportunities are endless. At Echo IQ, we’ve developed AI-backed assistive technology that identifies patients at risk of aortic stenosis (a highly treatable but often underdiagnosed form of heart disease). The technology is now ready; adoption is the next hurdle.
Jason Waller, CEO of Australian assistive technology company InteliCare
Trend for 2022: Predictive analysis software.
Last year, aged-care providers struggled to overcome staff shortages and recover unspent homecare funds. In 2022, insightful care providers will invest in innovative software solutions to combat these issues.
Using smart home technology and trend data, predictive analysis software empowers staff to streamline their workload while increasing their client knowledge and care capabilities. At a glance, client data allows staff to effectively triage client care, without placing additional pressure on the workforce.
Predictive analysis software also enables homecare providers to identify indicators of client deterioration that may otherwise go undetected. In consequence, homecare providers can unlock unspent homecare package funds through increased services and hours.
Organisations that are early adopters of this trend include MercyCare, who recently partnered with InteliCare, which has created a predictive analytics hardware and software system for use in the aged care and health industries. Using InteliCare’s predictive analysis software, MercyCare aims to empower their staff to deliver higher-quality, more-efficient services.
