Medical equipment and pharmaceuticals have never been more profitable. But new technologies designed for workplace safety could divert cash into the nascent preventative care industry.
Healthcare is a $3 trillion industry in the United States, so it should come as no surprise that there are new technology companies vying for a piece of the market. But unlike thehealthcare industry heavyweights, which manufacture pharmaceuticals or MRI machines, these startups are focused on something else entirely: prevention.
About 12,000 personnel are hurt at the workplace every day in the US. Many more deal with chronic conditions or nagging injuries. For these workers, hospital and pharmacy bills incur burdensome costs which are often paid out in the form of Medicare and Medicaid’s $836 billion annual budget.
For workers and the insurance companies that pay their bills, anything that can reduce the bill is invaluable. That’s why engineers around the world are in a race to build one type of “wearable device” that could truly keep workers healthy into old age: a human exoskeleton.
Strong Arm Technologies is one company developing powered exoskeletons, although theirs is lightweight—it’s augmenting human muscles to lift boxes, not replacing muscles entirely. Their V22 vest works by using a small motorized reel in the small of the back to draw a system of pulleys that run down the arms, helping the wearer lift objects safely from a standing position. At full power, the V22 handles up to 75 percent of the lift load, keeping the wearer from the kind of strain that can cause tendonitis or lumbar pain.
Of course, a regular health and fitness regimen could have the same effect. But while lots of companies offer occupational wellness incentives through employee health benefits, Americans are notoriously bad about using those dollars for gyms or trainers.
“BUT WHILE LOTS OF COMPANIES OFFER OCCUPATIONAL WELLNESS INCENTIVES THROUGH EMPLOYEE HEALTH BENEFITS, AMERICANS ARE NOTORIOUSLY BAD ABOUT USING THOSE DOLLARS FOR GYMS OR TRAINERS.”
Several software companies are attempting to change that; one such venture is SafetyCulture, which has earned such pet-project status from one top investor that he regularly skips work at the software company he runs in order to hang out at the startup’s office.
SafetyCulture takes something mundane but essential—safety checklists—and turns them into smart SaaS products that can help enforce compliance. Their audit software stops workers at key junctures in their day, polling them to make sure they take the precautions dictated by their scenario. Airline mechanics, nurses, and construction workers could all stand to benefit from this technology—all of them rely on checklists to stay safe, and all of them work long hours.
Should an injury happen anyway, other startups are focused on developing surgical shortcuts that cut down on recovery time. BioBots is a nascent 3D printing company whose machines manufacture living tissue medical professionals can use to speed up healing and reduce scars. Once out of the hospital, patients can monitor themselves. Accel Diagnostics makes a self-diagnosis smartcard that, when exposed to bodily fluid, sends information directly to your doctor via a smartphone.
For permanently disabled Americans, even the most complex preventative healthcare technologies are more economical than months or years of home care. A California company called Esko Bionics is now selling a fully-powered bionic suit that enables people with any kind of lower body weakness to stand up, walk, and bear their full bodyweight without assistance from a caretaker. This increased mobility reduces depression and increases the likelihood patients will return to work.
Some companies also see harnessing the tacit knowledge of industry veterans as an opportunity to create value. A Tennessee startup called XOEye Technologies recently announced a head-mounted goggle assembly complete with camera, radio, and microphone that telecommunications repair crews can give to isolated field workers. The headsets allow senior engineers to supervise less experienced workers remotely, acting as a second pair of eyes and ears and making complex repairs less dangerous. With that kind of training, who needs a technical degree?
No comments:
Post a Comment