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Customization and precision. These are the two challenges that need to be addressed when applying different technologies and betting on digitalisation in all health sectors. “The confluence of new technologies such as the Internet of Things [IoT por sus siglas en inglés], artificial intelligence, data analysis or connectivity 5G drive the vehicle DIGITIZATION in the health sector “, assures in this interview to D + I Andrés Saborido, global director of Wayra, hub Telefónica’s open innovation program on the occasion of the program World Health Day.
And, in the last 12 months, the adoption of technology in this sector has accelerated with the change in our habits during the pandemic. However, Saborido points out that Telefónica is taking “investing many years in eHealth given its importance to billions of people and adults digitization opportunities which shows “.
In fact, the head of this accelerator of the Spanish multinational recalls that one of the first investments they made in Spain at the launch of Wayra in 2011 was Tedcas, a technology without touch (contactless) to improve the interfaces used by doctors and to avoid the risks of contagion.
Thus, in this decade, Telefónica has invested mainly through Wayra and the Telefónica Ventures fund network, over five million euros in about 60 startups, in order to bring its innovations closer to its customers, following “the model of what is now known as open innovation”.
In this regard, he predicts that the future and present of this sector “will be driven by data with cloud hosted solutions and use of artificial intelligence supports clinical decisions, helps automatize processes and promotion participation of the patient ”.
How startups drive health innovation
Saborido recognizes that startups partially drive the development of innovation in the healthcare sector, especially in these five areas: medical diagnostic technologies; remote medical consultations; the pursuit of physical and mental well-being; elderly care and hospital management.
Advances in genetics and data analysis have favored medical diagnostic technologies with solutions such as those of the startups MadeOfGenes (genetic analysis), TestCard (urine analysis), Medical Loop (painless blood extraction), iGluco (stingless glucose), Arkangel.ai (artificial intelligence diagnosis) or Idoven.ai (cardiology studies at home).
Perhaps one of the strongest trends during the pandemic was that of remote medical consultations. “The recent launch of Movistar Salud here in Spain in collaboration with Teladoc is a clear example,” says Saborido.
Likewise, companies invested in Latin America stand out in this area, such as in Colombia the investment in 1DOC3, a health platform that connects its users with doctors and that anonymously and through text chat offers them personalized attention, or in Brazil in BemCare, with strong growth.
In accordance with bSeek physical and mental well-being, Wayra’s global director points out a phenomenon where “more and more people are using technology to control their health”. This shows how we are moving from the goal of seeking treatment for disease to researching patient well-being.
“More resources are starting to be allocated from the end of the healthcare value chain (treatment and post-treatment) to the beginning,” says Saborido, adding that this is due to the growing emphasis on healthy and preventive lifestyle ”.
In this area, it stands out disruptive therapeutic solutions oriented towards both mental and physical health. “Companies like Koa Foundations, Thrive Therapeutic Software, Vittude, Pzizz, Quit Genius help better manage self-management of stress, sleep or addictions.”
Also, this interview highlights the technology of companies such as Second Nature, Baobab Circle, Albert Health or Vinehealth Digital Limited, which are focused on physical health by addressing weight problems, diabetes and hypertension or even helping to monitor cancer patients.
In addition, in the field of physical and mental well-being, Saborido observes “a great increase in solutions aimed at women’s health (Baby2body, She’s well, Chorus Health) et al fitness (Fitco, Gympass, Volava) ”.
On the other hand, another subsector that has registered “a large increase” in recent years is that of care for the elderly with monitoring solutions (Aerial, MySphera, Sensara); smart bands (Neki and Durcal); volunteering (Adopt a grandfather); virtual caregivers (TuCuVi) or education for increasing healthy longevity (Roșita).
Finally, even more B2B market oriented (for the acronym business to business), Chief Wayra points out that many solutions have emerged that seek to improve hospital management such as Visionable, Hospify, MySphera, Proradis or OssoVR.
For example, in Spain, MySphera and Telefónica work together at The digital hospital of the future, in which “it implements a new system identification, location and traceability of patients“, Which will allow” shortening waiting times in case of emergency and improving efficiency in the use of hospital assets. ”
Another recent example is that of British Visionable and its project Smart ambulance, focused on assisting stroke patients. It is about a connected ambulance which allows EMTs to quickly assist patients by connecting with hospital experts.
“All this thanks to the collaboration with O2 and the 5G network, which allows the transfer of high-speed images and video conferencing in high definition.”
Agreements with large companies in the sector
“Over the years, we have also invested heavily in this sector by creating vertical programs in the UK, in partnership with Novartis or GE Healthcare”.
These are collaborative projects in which Wayra wants to improve his “deep technological knowledge with the great knowledge of the sector that the top companies have”, such as these companies.
Based on these agreements, Saborido explains, startups in its ecosystem can access “data and experience in healthcare, which are more difficult to obtain than in other industries due to regulations ”and, in addition, they are offered a faster path to the market.
For example, he points out that one of the differentiating elements of the program with GE Healthcare, launched at the end of 2020, is ” strong connection with the industry, with real customers and problems ”.
During the six months of acceleration, “the program operates on three axes: innovation, adoption and integration of technology startups with proof of concept that, if successful, will facilitate entrepreneurs’ access to GE’s global network of distribution partners in 160 countries. ”