When it comes to adhering to medication, many of us go lazy or forget to stick to the schedule. However, the problem is more serious than merely missing a dose. In a study published in 2017, it was found that 50% of participants were non-adherent due to which 90% of clinical trials got delayed. This results in $8 million of lost revenue per day of delay.
InHandPlus Inc, the Korean startup, launched in 2019, aims to provide convenient and efficient healthcare solutions. It has developed a medication-based Smartwatch that focuses on the issue of non-adherence. It also offers an AI-based medication management platform. The medication data collected by the smartwatch and platform is further used to provide personalized healthcare services and medication insight.
Ambient AI technology
The smartwatch has specialized sensors and AI technology that is meant to help improve medication adherence by increasing the patient’s engagement. It has an Automatic medication behavior analysis solution, data-driven, and personalized medication management solution, and a user-friendly UI for digital healthcare platforms.
The pill bottle is electronically tagged and connected to the smartwatch through wireless technology. The motion sensor in the watch detects and records when the patient has taken their pill. The real-time monitoring makes it easy to keep a tab on the health of the patient and take action immediately in case one has skipped a dose. The watch also shows an ‘Adverse Event’ such as headache and also the numeric ‘pain score.’ Its medical alarm immediately alerts the concerned medical facility or relative, thereby acting as a personal medical attendant. The watch has the facility of Privacy protection so the user can keep their medical history private.
Far ahead of competitors
Founded by Hwiwon Lee, the accuracy of the InHandPlus AI algorithm is 95%, and the processing speed is 2 sec. Since its launch, the company has won the Bayer G4A Korea and Merck China Accelerator Program. It was also selected in the TIPS program as well as in the India startup delegation program. The company plans to collaborate with global pharma companies and get into partnership with Insurance companies. Its expansion plans include both B2B and B2C approaches as well as a Telemedicine platform.
