- MetAlert is a pioneer in location-sensitive health monitoring devices and wearable technology products targeting the Alzheimer’s, Dementia, and Autism (“ADA”) market
- The company is looking to provide cutting-edge telehealth technologies and is continuously working to roll out improved and more innovative products for its users
- Its SmartSole(R) product facilitates discreet tracking and remote monitoring of ADA patients
- The company has also launched SmartSole plus(R), which adds Bluetooth and Wi-Fi capabilities for better tracking
- MetAlert also distributes RoomMate, a wall-mounted 3D infrared supervision product that enables caregivers to look after patients without intruding on their personal space
The policy changes spearheaded by the US government at the height of the COVID-19 pandemic boosted telehealth, including telemedicine. As a result, by April 2020, telehealth services constituted 32% of Medicare claims, up from less than 1% before the pandemic, and by July 2021, the figure had plateaued to between 13% and 17% (https://ibn.fm/QtTZL). Against this backdrop, a recent article (https://ibn.fm/9deW5) in Equities asks: “But will its momentum continue now that the pandemic has lost its urgency?”
While industry forecasts project that the telehealth space will expand at CAGRs ranging from 19% and 24% to as high as 32%, the author of the article is quick to point out that the adoption of new technologies in the health sector still faces myriad challenges. From the fact that the sector is slow to adopt changes and patients change their attitudes rather slowly to the sheer cost and disruption associated with health and medical practice technologies.
However, the author notes that just as the smartphone space needed a jolt from tech juggernauts Google LLC, a subsidiary of Alphabet Inc. (NASDAQ: GOOGL), and Apple (NASDAQ: AAPL) to push adoption and innovation, so too does the telehealth space. While advanced, the existing telehealth technologies pale in comparison to what the next level of innovation and solutions is likely to be. “What everyone wants to know, of course, is what will happen next – and even more than that – when the next thing happens, who will the industry leaders be?” the Equities article asks.
Los Angeles, California-headquartered MetAlert (OTC: MLRT) is working to be one of the industry leaders, leveraging existing and emerging technologies, such as GPS, Bluetooth, Wi-Fi, the ability of wireless networks to transmit large amounts of data in nanoseconds, and more, to provide innovative solutions to scores of patients. A pioneer in location-sensitive health monitoring devices and wearable technology products, MetAlert primarily targets people around the world living with Alzheimer’s, Dementia, or Autism (“ADA”) – over 34 million people, according to the company.
It is well documented that ADA patients have a tendency to wander and become lost (https://ibn.fm/WcDC6) putting tremendous stress on families (https://ibn.fm/yf1Bz). To ameliorate the strain and stress and perhaps eliminate them altogether, MetAlert developed GPS SmartSole(R), a wearable medical monitoring device integrated into an orthotic insole, facilitating discreet tracking and remote monitoring of ADA patients.
The SmartSole enables tracking by utilizing a 4G cellular network and is powered by a Lithium-ion battery that lasts between 2-4 days on a single charge, according to the company. In addition, this product can be configured to send alerts via email or text whenever someone enters or exits specific areas, giving caregivers the utmost peace of mind (https://ibn.fm/cQDdk).
MetAlert has further enhanced the capabilities of SmartSole by adding Wi-Fi and Bluetooth capabilities, creating what it has named SmartSole plus(R). The revamped product’s use of Wi-Fi enables indoor tracking within large concrete structures, while Bluetooth facilitates connection to other wearable medical devices.
Still, the company is pushing the boundaries of innovation, and is currently developing the next generation of its insole product named BioStride. According to MetAlert, BioStride will be designed to continuously collect health data that may help identify patterns before and during episodes and, utilizing an artificial intelligence-powered backend, analyze trends and send alerts in the event of a crisis. This way, MetAlert plans to expand its tracking and monitoring platform (https://ibn.fm/vvOre).
MetAlert also distributes RoomMate(R), a wall-mounted 3D infrared supervision product that enables caregivers to look after patients without intruding on their personal space. It sends alerts about motley behaviors that may lead to falls or injuries, reducing staffing requirements and improving security, sleep, and quality of life. Most importantly, the RoomMate product functions effectively even among patients who have not worn wearables.
For more information, visit the company’s website at www.MetAlert.com.
NOTE TO INVESTORS: The latest news and updates relating to MLRT are available in the company’s newsroom at https://ibn.fm/MLRT
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