Strategic partnerships could be the solution to over-monitoring problems in medtech
Medtech innovation will always be at the forefront of the tech scene. As the world continues to focus more and more on health, diet, and the “path to living a long and healthy life,” tech entrepreneurs want to keep the momentum on healthy living going by creating innovative devices that make living a healthy lifestyle easier. At the forefront of this innovation are monitoring solutions, such as Fitbit, Garmin watches, and even the Apple Watch. And yet, the push for monitors that, well, monitor everything, has created a bit of a problem for the entire medical community: over-monitoring.
While some would consider having many different types of health monitors a good thing, in actuality, the medical community has to deal with a large influx of poor quality monitoring solutions. Consumer-health monitors can be extremely beneficial to everyday users, guiding them on the right path to a healthy lifestyle. When people are dealing with more serious medical conditions, that may warrant a more “professional-grade” monitoring solution, the medical community has had to push its own products, which sometimes, everyday consumers have been less than happy to purchase or use.
So what is it that is drawing consumers to want to try out different monitors? Usually it isn’t enough for it to just work well, as we tend to be drawn to products that are aesthetically pleasing. In addition, a hospital certification, for example, will let users know that they are receiving top-of-the-line medical monitoring devices. Yet many times, what is thought of as “hospital-grade” can bring up images of outdated, or bulky equipment. The truth is that many of the innovative monitoring solutions that are hospital approved are just as sleek as a Fitbit.
Take for example, GlucoMe, which has built a wireless Blood Glucose Monitor that connects to mobile devices. The device is super-small, fashionable, and extremely simple to use. The monitor on GlucoMe has a simple design, with no display, no on/off buttons, no wired connector, no Bluetooth, no WiFi and no cellular connection, providing users with a simple and straightforward device.
Medasense Biometrics, another example, specializes in pain monitoring solutions. As a company, its mission is to reduce pain through devices that can more accurately measure a patient’s pain level, which ultimately results in more effective pain treatment. Instead of trying to understand a patient’s pain level, which is subjective, Medasense will objectively measure the pain a patient is feeling.
Lastly, HealthWatch, which produces a fashionable and smart garment that measures vital signs. When coupled with HealthWatch’s monitor and control device, users get personal alerts and monitoring from medical experts without altering their lifestyle.
While these companies are pushing the boundaries of medtech and monitoring solutions in general, the combination of medicine and tech can sometimes feel like two competing forces. As mentioned above, hospital-grade medtech and “sleek” designs do go hand-in-hand. While innovation is key in both the tech and medical sectors, the most impactful result of partnerships and alliances within the medtech sphere can be the improvement of patient care. With this in mind, it is important for companies to search out partnerships.
Finding strategic partnerships can be difficult. A great resource for medical companies and hospitals looking for innovative partners in the field is the MEDICA 2016 conference. At the conference, the Israel Export and International Cooperation Institute and the Israeli Pavilion will be presenting more than 60 Medical Device and HealthCare IT Technology companies, in order to help medtech companies create and foster important partnerships.
If you happen to be in Germany this November, this may be your chance to check out the best of the best of medtech innovation!
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