- This is an excerpt from a story delivered exclusively to Business Insider Intelligence Digital Health Research subscribers.
- To receive the full story plus other insights each morning, click here.
IBM Watson is trying its hand at in-home health monitoring with a new system that combines IBM’s machine learning software with cutting-edge Light Detection and Ranging (LiDAR) sensors to paint an accurate, real-time picture of seniors’ daily lives.
Business Insider Intelligence
IBM’s teaming up with UK-based startup Cera Care — which links caregivers with elderly patients — to get the product into roughly a dozen patient homes in a six-month pilot phase launching in June, Reuters reports.
Here’s what it means: IBM’s making its home healthcare debut with a unique approach.
- Advanced sensor technology could arm caregivers with a precise run-down of their patients’ every move. LiDAR is a buzzy tech implemented by autonomous vehicle (AV) industry leaders to help self-driving cars "see" what’s going on around them. Here’s a quick look into how LiDAR works: The sensors use laser light pulses to create intricate images of movement and surroundings. In the context of home healthcare, caregivers can watch a real-time play-by-play of how their patients are faring: For example, they could see if they’re having trouble walking — a common sign of stroke — or whether they’ve fallen, which is the leading cause of injury for elderly folks.
- The sensors are as accurate as a camera — but less invasive, which should put consumers’ privacy concerns at bay. With LiDAR, a caregiver can "watch" their patients, but the process is less Orwellian than camera use because the viewer can’t see an exact image of patients or their homes; they merely see clusters of shapes. Using cameras to monitor elderly patients is a hot-button issue in the senior caregiver community, and many view the practice as intrusive, Senior Housing News notes. This less invasive option might ease some privacy-related worries.
The bigger picture: The tech has the potential to streamline care delivery for a shrinking supply of caregivers — but it comes with a massive price tag.
- As the pool of caregivers wanes, health firms will likely set their sights on innovative ways to keep track of patients remotely. As the US senior population expands, a caregiver shortage could leave almost 8 million direct care jobs unfilled by 2026, according to PHI. The UK — where IBM’s program will begin testing — is witnessing a similar, albeit smaller-scale, trend, per The Independent. So, it makes sense for firms that deploy caregivers into patients’ homes to invest in tech that allows workers to provide care from afar; it could prevent burnout, allow them to check in on multiple patients at once, and streamline the process of emergency services if something goes awry.
- But IBM’s LiDAR-enabled system could force firms to empty their pockets. LiDAR sensors cost up to $1,000 each, and some AV companies — like Nissan — are ditching the tech, citing an "imbalance between [LiDAR’s] cost and its capabilities." Other in-home monitoring systems using sensors and cameras are much cheaper: UK’s Hive Link costs £150 ($190) to install and £15 ($19) for each month it’s used, and Lorex offers a camera system geared toward elderly care for less than $200. And other big names are looking to get into senior care with sensor-based solutions that would likely come at a fraction of the price: Google’s hinted it could use its connected home business Nest to dive into the market, for example. IBM’s product could make a huge splash in terms of innovation, but if it eventually makes it to the wider market, the high price alone might have potential partners running away.
Interested in getting the full story?
Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to the Digital Health Briefing, plus more than 250 other expertly researched reports. As an added bonus, you’ll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally.
See Also:
- Obamacare was expected to kill off Medicare Advantage. Now, it’s one of the hottest areas for venture investment.
- Comcast is breaking into the health monitoring device market
- Teladoc has unleashed the first-ever virtual care patient safety organization
Source: Business Insider – zlarock@businessinsider.com (Zoë LaRock)