Biomedicine

Constructing a Smart Hospital & Healthcare Ecosystem with Artificial Intelligence – from sick to healthy and wellness

Principal Investigator:Ray-Jade Chen M.D. M.Sc.

Abstract

The goal of this project is “Constructing a Smart Hospital & Healthcare Ecosystem with Artificial Intelligence – from sick to healthy and wellness”. We aimed to solve the challenges of global aging population, insufficient critical &chronic care resources, and personal health records privacy and security issues. Our solutions, including Ted-ICU AI, Tele-holistic services, and iWellChain DApp, can fulfill the unmet needs in the global healthcare market and create new health values and construct healthcare ecosystem.

The features of our solutions are as following:

  • Ted-ICU AI solution:
    1. Integrate the electronic medical records and all monitoring data with real-time image captures.
    2. Using artificial intelligence evaluation tools to early predict of high-risk patients.
    3. Effectively reduce manpower, improve quality of care, and reduce mortality. 
  • Tele-holistic services:
    1. Construct a comprehensive telecare services platform based on the concept of “from disease to health and wellness” from daily physiological monitoring to enhance the health and wellness.
    2. Provide 24-hour online counseling service to reduce repeat hospitalizations and improve quality of life.
  • iWellChain DApp:
    1. Integrates hospital and clinics EMR with individual health records (EHR).
    2. Formatted in HL7.
    3. Secured via blockchain to strengthen data security and patient empowerment.
    4. Better control of health through viewing and sharing of their medical data with providers.
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Team Introduction

The Radica Health is led by Professor Ray-Jade Chen and consists of healthcare professionals as well as a team of young IT talent. From a clinical perspective, we have discovered the unmet needs in global healthcare market. And we focus on developing and offering innovative digital healthcare products, such as the Ted-ICU AI solution, Tele-holistic service, and iWellChain DApp. Our aim is to provide our solutions that can offer a simple, self-sovereign identity and more secure way for people to access and manage their medical records, make data interoperability easier and create a far-reaching healthy ecosystem.

Goals and Plan
Entry Barrier
  1. With medical professionals and innovative technologies, our team can offer comprehensive and prompt medical expertise and IT solutions.
  2. We have developed our IT products and services model with high competition and can address the unmet needs in the global healthcare market.
  3. Our IT products and service model are going to market currently, including hospitals (eg. En Chu Kong Hospital), insurers (Fu Bon and Shin Kong Life) and also actively integrate with the Ministry of Health and Welfare network services.
Market Scope
  • Ted-ICU AI solution:
  • In 2017, the global telemedicine market was valued around 23 billion U.S. dollars. It is expected to grow at a CAGR of 13.0% over the forecast period to reach US$41.2 billion by 2021.

  • Tele-holistic services:
  • Global telehealth market is set for a rapid growth and expected to reach US$12.1 billion by 2022, growing at a CAGR of 30.1% between 2017 and 2022.North America is expected to grow at a CAGR of around 29.9% in coming five years. Asia-Pacific is expected as a lucrative market for telehealth solutions in coming five years and is expected to grow at a CAGR of 35.6% within the forecast period.

  • iWellChain DApp:
  • The global blockchain in the healthcare market is expected grow at a CAGR of 57.6% from 2018 to 2025, to reach a value of $5.43 billion by 2023. Asia Pacific is projected to witness the highest growth during the forecast period.

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