According to a recent report from Frost & Sullivan, the Internet of Medical Things (IoMT) is helping to drive the home healthcare industry into new innovations that are clustered around wearables and eSkin devices – the type of devices that small cap Biotricity Inc (OTCQB: BTCY) is developing.

According to a recent report (“Internet of Medical Things Enabling Hospitals of the Future”) from Frost & Sullivan, the Internet of Medical Things (IoMT) is helping to drive the home healthcare industry into new innovations that are clustered around wearables and eSkin devices – the type of devices that small cap Biotricity Inc (OTCQB: BTCY) is developing. To begin with, the Internet of Medical Things is part of the much bigger Internet of Things (IoT) idea with IoMT consisting connected medical devices or applications feeding medical or patient data into the cloud via online networks. In addition and aside from Internet of Medical Things, there is also another trend in healthcare to move away from “reactive” healthcare where a patient visits a healthcare facility to deal with a problem and to instead move toward “proactive” healthcare care where the patient takes a degree of responsibility for their own health through the use of health monitoring systems (enabled by IoMT).

Frost & Sullivan’s analysis indicated that smart sensors are assisting with the creation of a connected ecosystem. This in turn enables possibilities for remote or home healthcare advances which the market research group believes will one day become the dominant model for health care ahead of the hospital. The report noted that the types of technology being developed includes wearables and eSkin sensors for chronic disease management as there have been significant improvements when it comes to their size, sensitivity and communications capabilities. Improved communications is an important factor assisting with real-time remote monitoring.

The report goes on to describe several technologies that will have important roles to play in enabling smart hospitals:

• Big Data analytics: By using analytics to gain actionable insights, smart hospitals can employ digital prescriptive maintenance (DPM) of medical equipment. Big Data analytics can analyze electronic health records (EHRs) and hospital networks, control data for public health research, and reduce hospital readmissions.
• Blockchain: Users of blockchain solutions can create modern models for managing and sharing medical records and patient health patterns within specified populations/communities. A blockchain network will bring together insurance companies, hospitals, and patients for hassle-free and well-integrated payments.
• AI: This technology collects the massive amounts of data generated by IoT to make inferences and predict medical diagnostics based on complex analysis algorithms. With the combination of IoT (for periodic control) and AI (for analysis process), connected healthcare monitoring devices will become “intelligent” over time.

One such up-and-coming small cap Internet of Medical Things stock would be Biotricity Inc which isbuilding a remote patient monitoring platform comprised of three key components tailored to a variety of diagnostic and post-diagnostic applications:

• An IoT hardware with built-in cellular connectivity.
• An embedded Real Time Operating System (RTOS).
• The cloud for analysis and management of both data and devices.

Biotricity considers remote monitoring medical-grade devices to be a significant component of its product development roadmap and plans to expand its offerings over time. In addition, the Company has already identified three potential markets where its existing technology can be applied and plans to announce more details on this initiative over the next three quarters.

Right now, the Company’s flagship product is Bioflux – a high-precision, single-unit mobile cardiac telemetry (MCT) device that provides real-time monitoring and transmission of ambulatory patients’ ECG information. Combined with proprietary software, highly customizable reports and 24/7 monitoring center, the Bioflux system offers complete solution for remote cardiac monitoring that merges seamlessly with physicians’ existing platforms and workflows.

Last April, Bioflux was launched with clients in Texas and has since expanded into four additional states with the Company expecting to complete software and hardware prototyping for its Bioflux 2.0 solution and to file a 510(k) clearance application with the US FDA by early 2019. In August, Biotricity announced the expansion of its sales team to cover two additional geographic centers in the US while earlier this month, the Company announced that it is developing the “Biopatch” ECG patch to further leverage Bioflux capabilities.

Biopatch is intended to provide wireless arrhythmia monitoring for patients who are either at risk for, or diagnosed with, certain cardiac issues. Its also intended to offer an alternative to 3-lead systems like Bioflux. While 3-lead systems are still the industry-recommended solution for best diagnostic yield, ECG patches are less cumbersome to wear and easier for patients to use and this makes them ideal for patients with less complicated cardiac conditions.

More importantly, continuous ECG monitoring patches worn at home by patients have been found to significantly increase detection of atrial fibrillation (AF) which can lead to serious heart-related complications (including stroke and heart failure). Biopatch will ensure patients with AF and other cardiac issues receive more “proactive” healthcare in the form early diagnosis and preemptive care from their physicians rather than “reactive” healthcare.