BioMed Boston 2016 Innovations & Insights Report

20 Apr BioMed Boston 2016 Innovations & Insights Report

Jan Rimmel, Product Marketing Manager at JD Technologies, LLC

BIOMEDeviceBoston-2016-UpdatedLast week JD Technologies, LLC attended BioMed Boston at the Convention Center. We wanted to share some of the key takeaways from the BioMedical Innovation sessions that we attended.

The Internet of Things (IOT) is not just a buzzword. Technology is being adopted at an accelerated rate that is allowing for creativity and innovation in Healthcare by connecting the dots in new ways from providers to patients. This is causing a shift in focus toward consumer facing devices using RFID, wireless technologies and near field communications.

The Uberization of Healthcare [uberize (economics) To modify a market or economic model by the introduction of a cheap and efficient alternative]

The pivot to on demand products and services in Healthcare has begun. However, just making an App is not a solution. The pivot takes place when there’s meaningful information that is exchanged that changes the way a problem can be solved.

Examples of disruptive technology include remote patient monitoring, preventive care wearables, prescription management products and services, glucose monitoring and heart monitoring devices.

BIOMEDevice-Boston-2016-Photo-4Key Areas of Opportunity:

Identify ways technology can be used to link devices out to the field and back to lower costs and improves patient outcomes so everybody wins… patients, providers and payers.

Design & Development:

  • Approach product development from a human perspective and identify where there are artificial barriers that can be eliminated by adding a technology or process.
  • Collaborate with ecosystem partners to provide end-to-end solutions.
  • Be sure that there are clear advantages over current offerings in the space.
  • Align new solutions with existing values and behaviors of consumers.

Med care is moving to less brick and mortar for monitoring. Remote monitoring technologies are a great way to track how well people are adhering to their care instructions. Biometrics and other health data can be tracked and monitored away from the healthcare facility lowering healthcare costs by reducing the number of hospital visits.

Real World Applications for New Technologies:

  • Discovery of an ailment through remote monitoring
  • Analysis of existing ailment to track status of condition
  • Use of prevention protocols to establish thresholds of measures and take corresponding action as needed
  • Tattoo like electronics – nature nano technology

The more we know about disease progressions, the more effective and predictive remote monitoring will become. Devices are getting smaller, more light weight, sleeker and easier to use and costs are coming down.

Challenges:

  • Creating products that are intuitive for a wide range of users
  • Predictive revenue streams and payment protocols
  • Huge volume of data to be managed
  • HIPPA compliance

Considerations:

  • How should care providers interact as certain things are learned
  • Response time and methods: Calls, alerts, email, or text?
  • Data storage and management

Wearables and implantables have a great deal of potential and can be increasingly impactful to medicine with real-time reporting and predictive data but must carefully managed.

Summary:

Reshaping Healthcare with the conversion of wearables, life sciences and technology is one big mashup and there is a lot to be gained by a step-wise approach. A new generation of research and medical solutions can be achieved through collaborative partnerships with industry, academics and the government.

About JD Technologies, LLC – Provides premium sales and marketing services to a group of high quality, complementary manufacturers of engineered services and products who serve the industrial, aerospace, military, defense and medical industries. We develop long term relationships with key customers who value the consultative style of selling and who wish to interface with sales professionals of high integrity. Products and services include CNC Machining, Digital Compass, EMI Filters, Capacitors High Voltage, Hydraulic Components, Inertial systems, Permanent Magnets, Mechanical Assemblies, Metal Fabrications, NADCAP Fusion Welding, Pressure Sensors, Pressure Switches, Solenoid Valves and Temperature Sensors.

2 Comments
  • John Knott
    Posted at 16:01h, 20 April Reply

    Jan,
    Excellent synopsis of very interesting trends in the medical device space. Great job. Thank you for sharing!

  • Jan Rimmel
    Posted at 08:33h, 21 April Reply

    Exciting time for product development teams as we move into the consumerization of healthcare!

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