Veyetals

Primary Problems:

1. Tracking the vital signs

Regularly checking your vital signs allows you to understand what “normal” means for your body. When there are fluctuations, you can take action immediately. Early action leads to more successful treatments. But unfortunately it is not a very common practice. People don’t regularly monitor their vital signs due to a number of factors, that could be:

• Spending money to buy a number of devices to get one’s vital signs. (Wearable devices are expensive; vital sign monitor cost starts from $70-$80)

• Wearable devices keep changing/updating, they need batteries or need to be charged, and can be difficult to use/maintain. 

• Too lazy to spend the time and effort to capture the vital signs

• Unaware of the importance of keeping track of their vital signs

Blood pressure monitors cannot be used by Fibromyalgia patients. Fibromyalgia affects about 4 million US adults, about 2% of the adult population. 

Nearly half (45%) of U.S. adults are dealing with at least one chronic condition. Of those who are living with two or more conditions, 78% have high blood pressure and 45% have diabetes — two health conditions more effectively managed when people track their own data.

Half of all trackers update their records or notes only occasionally and most do not share the data with anyone else. So there is a need for a proper platform to keep track of biometrics that also has an option to share the results with the clinician. 

Source: https://www.pewresearch.org/in...

 2. Telemedicine has its restrictions

Telemedicine has been shown to reduce the cost of healthcare and increase efficiency through improved management of chronic diseases. Telemedicine also reduces hospital costs by providing remote access to specialists that rural hospitals cannot usually attract to serve as a local provider. The ease of use of the online consultation system can positively influence patients’ acceptance of and satisfaction. However, some patients with complex health conditions have their own requirements, which include vital signs monitoring sensors linked to the health care provider’s data center for real-time monitoring or requiring patients to regularly report data to the health care provider. These complex systems are not easy to use, and patients might encounter technical issues and difficulties while using them. These difficulties negatively influence patients’ acceptance of and convenience with telemedicine, which increase patients’ reluctance to use the technology. Therefore, the difficulty in using the system as well as the complexity of the system itself are related to patients’ complex health conditions. However a more simple and easy to use application can reduce system difficulty.

Source: https://www.ncbi.nlm.nih.gov/p...

Secondary Problems:

1. Nurse Burnout: 2.7 MILLION nurses in the U.S. report feeling burnt-out, according to recent studies.

The number one cause of nurses leaving the profession is BURNOUT.

Hospitals are not doing enough to address the BURNOUT CRISIS.

According to Nurse Burnout Study 2021

• Nursing burnout is a major contributor to the global nursing shortage, and new data shows the problem is only getting worse.

• Of the thousands of nurse participants from across the country, a staggering 95% reported feeling burnt-out in their nursing position within the last three years.

• 47.9% of burnt-out nurses report that they are actively looking for a less stressful nursing position, or leave the nursing profession altogether, or have done so within the last three years due to burnout.

Source: https://nursingcecentral.com/nurse-burnout-study-2021/

2. Clinician / Nurse Shortage:

Study shows that by 2025, 75% of healthcare workers will leave the profession.

Clinicians are concerned about a global healthcare workforce shortage, with 74% predicting there will be a shortage of nurses and 68% predicting a shortage of doctors in 10 years’ time. 

Source: https://www.forbes.com/sites/jackkelly/2022/03/15/unless-we-future-proof-healthcare-study-shows-that-by-2025-75-of-healthcare-workers-will-leave-the-profession/?sh=83cd5a42bcb2

Summary

Veyetals has been developed by MarkiTech.AI in collaboration with Queen’s University, a leading University in Canada. The IP is owned by MarkiTech.AI.

Veyetals is a real-time health monitoring system using smart phone, tablet or desktop camera. Our vital signs camera app allows you to capture more data easily for your telemedicine visits. You can expand your contactless solution using video-based health monitoring.

Recent developments in image processing along with the computing capabilities of smartphones and the cloud have enabled the extraction of an individual’s heart pulsations from pixel changes in video images of human skin surfaces. We can measure various biomarkers within 90-95% accuracy levels today!

Veyetals is  contactless vital measurement from your smart device(phone/tablet) camera in an affordable, simple and convenient way with face or fingerprint scan

It is  touchless vitals measurement using rPPG (remote photoplethysmography technology) for face and PPG for fingerprint scan using AI, Machine Learning & computer vision technology.

Our app is designed to make vital sign detection and monitoring more accessible without the need for costly medical devices. You can also track your vitals history in our app. You can view them in weekly and monthly charts which can be easily shared with your caregivers and physicians. As we grow our cloud infrastructure and capabilities, we are able to package our technology in a lightweight API to be integrated through the healthcare apps that matter to you most, including SenSights.AI.

Veyetals Pro: 

Currently we are in a process to develop a newer version of our Veyetals app i.e. Veyetals Pro. We are seeking funding of approx. $100,000 for this enhancement through MIT SOLVE program. This version is specifically designed to seek FDA/ HealthCanada Exempt/Clearance and help the hospitals / clinics, long term facilities, aging in place patients, and to monitor patients who are elderly, cognitive declined or motor impaired. Veyetals-Pro includes a mobile cart with embedded screen (Veyetals Application), lights and infrared camera. It gives an option to move the cart to the patient, so the device is not restricted for a single patient use only. The Veyetals application in this version is continuous and starts capturing the vital signs as soon as an individual's face is detected. This whole process can be extremely helpful to reduce the nurses burnout, turnover, improve the patient care and ultimately reduce the healthcare cost. 

How Veyetals Works:

• Frame your face in front of the camera.

• The application will perform the following steps that will take 30 seconds to capture the vital signs which include Heart Rate, Heart rate variability, Stress, Blood Pressure and Oxygen Saturation.

1. Face Detection and ROI(Region of Interest) Extraction

2. Raw BVP Signals Extraction

3. Signal Processing

4. ROI Selection

5. Vital Signs Calculation

• Once the vital signs are captured they can be sent to the clinician / physician.

Veyetals is a solution that can primarily serve:

1. Remote Patient Monitoring

The desire to get home based care has  increased immensely, especially since the beginning of the  COVID-19 pandemic. One market research and consulting company estimates the global remote patient monitoring market will reach nearly $7.4 billion by 2029 — a significant increase over the 2020 market size of about $2.2 billion. 

Veyetals can help any digital health platform to enhance the remote patient monitoring experience and can even work as a stand alone application that can capture your vital signs which can then be shared with one’s physician. It is inconvenient for elderly, motor impaired or cognitive declined individuals to visit a clinic.  They would prefer to be monitored at their home. Veyetals can serve this purpose. The vital signs can easily be measured through a smartphone camera and can be sent to the physician. You can also keep daily, weekly and monthly track of your vital signs.

Source: https://blog.prevounce.com/27-remote-patient-monitoring-statistics-every-practice-should-know#:~:text=One%20market%20research%20and%20consulting,size%20of%20about%20%242.2%20billion.

2. Enhanced Telemedicine

The global telemedicine market size was USD 41.63 billion in 2019. The global impact of COVID-19 has been unprecedented and staggering, with telemedicine witnessing a positive demand shock across all regions amid the pandemic. The market is projected to grow from USD 79.79 billion in 2027 at a CAGR of 25.8%in the 2020-2027 period. Telemedicine has shown tremendous growth in recent years. It not only helps patients to connect with  physicians remotely but can also aid in reducing the cost burden of healthcare

Source: https://www.fortunebusinessinsights.com/industry-reports/telemedicine-market-101067

Veyetals can serve all the users of telemedicine. The physicians can benefit from the application to check/monitor/collect the vitals signs of the patient and hence provide the more informed diagnosis. The patient doesn’t need to buy expensive devices, maintain them(refill batteries, charging) or even visit the doctor’s clinic to check the vital signs. You only need your smartphone, 83.72% of the world’s population already owns a smartphone.With Veyetals, the blood pressure reading of Fibromyalgia patients can easily be collected. (Fibromyalgia affects about 4 million US adults, about 2% of the adult population) 

Veyetals can help reduce the burden on healthcare:

• Physicians will be able to capture the vital signs remotely will save them time and effort to serve their patients.

• Reduce avoidable emergency and clinic visits, as patients can check their vital signs at home and share them with their physician for diagnosis. 

• There were 144.8 million total emergency department (ED) visits in 2017 in the United States with aggregate ED costs totaling $76.3 billion.

 Source: https://www.bankmycell.com/blog/how-many-phones-are-in-the-world

Veyetals will have secondary impact on:

1. Health worker shortage:

There is an ever existing health care worker shortage throughout the world. In the US alone, staffing shortages have cost hospitals an estimated $24 billion during the COVID-19 pandemic.By using Veyetals we can use the available health workers effectively. 

2. Nurse Burnout:

 Nurses have been mentally and physically drained throughout the COVID- 19 pandemic. However the issues like Nurse shortage and burnout were there even prior to 2020.

Nurses have been leaving their jobs because they are overburdened, unappreciated, and burnt out. Veyetals is the solution that can help immensely:

• It can help monitor the patients more frequently in less time. The mean time a nurse spent to collect the set of vital signs of one patient is 5 Minutes and 1 Second. However, with Veyetals a nurse can collect these vital signs in just 30 seconds and can send them to the records of the patient. Hence it will save approximately 4 minutes per patient.

Sources: 

https://hcup-us.ahrq.gov/reports/statbriefs/sb268-ED-Costs-2017.jsp

https://www.nursingtimes.net/clinical-archive/assessment-skills/how-long-do-nurses-take-to-measure-patients-vital-signs-21-02-2022/

• We have years of technology development experience, and we as a team have developed 40+ solutions in the last 10 years.

• We have existing clients in healthcare industry, i.e. Providence Care, Sandra Home Healthcare Provider

• 7+ years of health care and aging in place focus, and letter of intents from health organizations who are aiming to deploy a solution like Veyetals.

• We have a funnel of 20-25 customers in telemedicine, psychiatry, mental health, sleep etc. in the USA and Canadian market, that we are currently in conversation with. We have already signed 1-2 contracts and others are in progress.

We are a self funded organization, and we're trying to avoid seeking Venture Capital and Angel Investments. The reason for that is, then we will be forced to increase our pricing. Hence our priority is to self fund or seek non-dilutive funding. 

We are currently in the process of developing a newer version Veyetals. Veyetals Pro which will have a huge impact on healthcare. 

Veyetals Pro is a: 

• Continuous scanning application, means whoever comes in the frame it starts to calculate vital signs
• Preferred light, camera and screen, assembled together on a mobile cart
• An enhanced user experience for remote vital monitoring.
• Real-time edge artificial intelligence (AI) application for high definition video analysis.
• Improved performance of Veyetals solution by optimizing power utilization and efficiency of the algorithms 

Objectives

• We want to test this solution on our customers and conduct more pilots. 
• We want Health Canada and FDA Exempt / Clearance for our solution Veyetals Pro.
• We require funding, approx. $100,000 to accomplish our goals for Veyetals Pro.
• We need partners, for monetary and non monetary support in order to advance Veyetals and develop Veyetals Pro version.

It's been 100+ years of clips, wires, adhesives, discomfort, hospital stays, breathing instructions, stagnation etc. The monitoring of vital signs needs an evolution to enhance digital health.

A survey conducted by Insider Intelligence showed that 23.4 million U.S. patients used remote patient monitoring services and tools in 2020. By 2024, remote patient monitoring services and tools are expected to reach 30 million U.S. patients, according to research from Insider Intelligence. 

There are multiple remote patient monitoring and digital health platforms in the market. 

Unique value propositions of our solution is as follows:

• Provides advanced remote patient monitoring, it can capture your vital signs that includes Heart Rate, Heart rate variability, Stress, Blood Pressure and Oxygen Saturation which can then be shared with the clinician.

• Unique Technology: rPPG and PPG using finger (privacy) & face recognition.

• Easy app integration: able to package our technology in a lightweight API to be integrated through SDK & API across mobile, tablet and desktop

• Contactless Vital Sign monitoring

• Affordable, simple and convenient

• Veyetals Pro is a multiple user flexible solution: It includes a mobile cart that can be taken to patients and can be used for multiple patients and not restricted to a single patient only. 

• Developed Locally in Canada in collaboration with Queen’s University (IP owned by MarkiTech.AI) pilots done in US, Canada, Australia and Pakistan Clinics, Hospitals

Enhancing remote patient monitoring with advanced tools and services will make it even more popular and effective. Veyetals is doing exactly the same job and it is the future of healthcare.

A survey conducted by Insider Intelligence showed that 23.4 million U.S. patients used remote patient monitoring services and tools in 2020. By 2024, remote patient monitoring services and tools are expected to reach 30 million U.S. patients, according to research from Insider Intelligence.

Penetration rate of smartphones is much higher. It is inconvenient and expensive for people to keep and maintain multiple devices to monitor your vitals signs. We are making healthcare more accessible and cheaper across the world. Veyetals Lite is a free version wellness application, anyone with a smartphone can download the application and start screening.

We want funding to do enhancements and advance our application, to increase the accuracy of our solution and go for HealthCanada and FDA Exempt and Clearance. We want to make medical grade monitors accessible to the people.

Goals for next Year:

• Expand our wellness application across the world using distribution and PR, hence helping patients live a healthy life.

• Get HealthCanada and FDA Exempt and Clearance

• Test our solution in clinical setting

Goals for next Five Years:

• Provide an optimized solution for the Health Industry that is FDA and HealthCanada approved.

We will measure our progress through our milestones achievement:

Year 1

Milestone # 1: To expand the application across the world through PR, global marketing.

Deadline: Oct 1st, 2022

Milestone # 2: Test Solution in Clinical Settings (1000-5000 patient trials)

Deadline: Oct 31st, 2022

Milestone # 3: Get FDA Exempt and Clearance

Deadline: Mar 31st, 2023

Year 2-5

Milestone # 1: Get HealthCanada and CE approvals

Deadline: Sept 30th, 2023

Milestone # 2: Global marketing to introduce our product and get more clients. Reach out to health authorities across the globe.(approximately 5 developed countries and 20 under developed countries) 

Deadline: Dec 31st, 2023

Year 5 +

Milestone: 10% of global mobile penetration, active in around 50 countries

Primary Impact

Our solution is developed to enhance the use cases of Remote Patient Monitoring and Telemedicine. 

Using Wearables to capture vitals sign readings:

• More expensive

• Needs to be maintained, batteries, charging etc.

• Inconvenient for elderly, cognitive decline or motor impaired individuals.

Using Veyetals to capture vitals sign readings (future mode of operation):

• Less Expensive, 83.72% of the world’s population already owns a smartphone

• Zero maintenance 

• Convenient for elderly, cognitive decline or motor impaired individuals

• Contactless

• Best for Fibromyalgia patients. (Fibromyalgia affects about 4 million US adults, about 2% of the adult population) 

• Time efficient (saves time)

Veyetals will be a game changer for virtual care.  With increasing demand for digital health, it is high time to evolve vitals monitoring as well. Veyetals will advance remote patient monitoring and will bring ease to the patient and the physician while capturing vital signs remotely in an effective manner. It will immensely improve the RPM and Telemedicine. It will also bring a positive change to the lives of people who have disabilities and special needs. 

Secondary Impact 

In longer term we expect Veyetals to reduce the nurse burnout and shortage throughout the world.

With our current system, patient monitoring is directly proportional to manual labor. We believe with Veyetals Pro in the market we can change this concept of add on manual labor in order to collect the vital signs. The mean time a nurse spent to collect the set of vital signs of one patient is 5 Minutes and 1 Second. However, with Veyetals a nurse can collect these vital signs in just 30 seconds and can send them to the records of the patient. Hence it will save approximately 4 minutes per patient.Patients with abnormal vital signs should be reassessed no less frequently than every 2 hours for the first 4 hours, then every 4 hours if clinically stable. For ESI Level 4, vital signs should be reassessed per acuity and clinical assessment, but no less frequently than every 4 hours.

Deploying Veyetals will immensely increase the productivity of caregivers and nurses and will reduce the burnout, eventually stopping them to quit their jobs. 

Source: https://www.nursingcenter.com/journalarticle?Article_ID=3644932&Journal_ID=54013&Issue_ID=3644919

As a part of a cloud-based medical consultation service, we developed a rPPG methodology to measure people’s Heart Rate (HR), Heart Rate Variability (HRV), Oxygen Saturation (SpO2), Blood Pressure (BP) and Stress from the video of a patient’s face captured with a smart device camera.

We also used PPG methodology to capture the vital signs through the individual’s finger.

We are a small but dedicated team with an Advisory Board of extremely qualified clinical health and tech professionals led by Ruaa Abbasi. 

We have a diverse culture in our team with all members of our team coming from different racial backgrounds. We are a very inclusive company with team members residing in different countries of the world that includes Canada, USA, Malaysia, UAE and Pakistan. 

We truly believe in equity, diversity and inclusion which can easily be reflected through our current team.

We want to bring a small, affordable and convenient solution to be used by as many people as possible. Our Solution is designed for everyone who needs it with no exclusions. We ensure that there is not any discrimination while providing our services and solution. We always welcome, support and value all individuals who can benefit from our solution. 

B2B:

API, SDKs, etc to Pain, Sleep, Psychiatry, Insurance, Telemedicine, and other verticles. This model will generate 90% of revenue.

Veyetals Pro & B2C:

Direct License and hardware sale (10% of revenue)

We are more agile and are not funded by any investors meaning the overhead is very low. Our pricing is much much affordable. We are backed by the MarkiTech.AI team (parent company) of developers and they help integrate with our customers. 

Being a startup, the financial barrier is the biggest challenge.

We are looking for grants and partnerships to advance our solution, conduct more pilots and market our solution to generate revenue. We have a B2B business model, so we rely on to integrate with businesses who have existing applications. 

We have signed a major contract for Veyetals with Claris Continuum this year. Starting with 5 to up to 100000 user licenses.  

We are in conversation with two potential clients i.e. Gabb wireless (100k- 150k licenses) and SmartONE Solutions Inc.

We have attended conferences like HIMSS and are planning to attend ATA, Collision and other upcoming conferences. We have gathered a funnel of 20-25 customers via HIMSS in telemedicine, psychiatry, mental health, sleep etc. in the USA and Canada market, that we are currently in conversation with. 

We reach out to leads through Salesflow and Linkedin Navigator. We have planned webinars to introduce our solution and get more partners. That's how we are trying to increase the funnel.