IBM is investigating the possibility of selling IBM Watson Health, its attempt to use artificial intelligence (AI) in the medical field.
IBM is moving swiftly toward its goal of splitting the company and focusing the core business on cloud computing. As a result, IBM has purchased a number of smaller startups aligned with that goal. Its latest move, however, appears to be an effort to trim dead weight, or a portion of the business that doesn’t line up with its long-term plans.
IBM had high hopes for IBM Watson Health and the promise of AI revolutionizing the medical profession. The company invested billions building out the solution, but it has ultimately proved a cautionary tale for companies investing in AI. Despite all of IBM’s efforts, the company had difficulty getting doctors and medical professionals to adopt it.
According to insiders who spoke with The Wall Street Journal, IBM is looking to sell the business to an industry player, private-equity firm or merge it with a blank-check company. The common theme is deep pockets.
IBM Watson Health clearly has potential, but it may have been a good idea before its time. It may take deep pockets to keep it going until the medical community warms to the idea of AI managing its data.
2020 will be remembered as one of the worst years for the nursing home industry. Of the 500,000+ coronavirus deaths in the United States, over a third came from nursing home residents and staff. In some states, that figure is over half. Hundreds of thousands of nursing home residents and staff have died, affecting millions of friends and family members.
While the elderly and chronically ill are uniquely vulnerable to coronavirus, the actions of nursing homes contributed to the heavy casualties. Many facilities forced healthy residents to share rooms with residents who had tested positive for COVID-19. Experimental treatments were given to residents without their family’s knowledge, including antibiotic cocktails that had no effect on a viral disease. Furthermore, banning family visits to residents proved ineffective as nursing home staff became vectors for disease transmission. Even now there exist nursing home workers who refuse to accept the coronavirus vaccine. Taking all these missteps together, it’s no surprise that 1 in 2 Americans feel more negatively toward nursing homes than they did prior to the pandemic.
From falling occupancy to rising costs, 90% of nursing homes are in financial danger. As of right now, 65% of nursing homes are operating at a loss while 25% more have a margin below 25%. If their problems are not addressed in the near term, many long term care facilities will be forced to close their doors. This is a problem because despite nursing homes being deeply unpopular, they are a needed service for many senior citizens. As the American population ages, their services will be in greater demand than ever before.
Already, 3 in 4 adults have changed how they think about the future. 40% are now more willing to save for long term care while 33.3% have taken action to financially prepare for the eventuality. If nursing homes close today, they won’t be around for when these people need them most.
The Way Forward
Going forward, nursing homes need to disinfect both their facilities and their reputation. Cleanliness has grown to the #3 concern prospective residents have about long term care facilities. The two rankings above are staff attitude and responsiveness. Importantly, Black and Latino families rank cleanliness higher when looking for a nursing home. As more diverse generations age, cleaning will continue to be key.
Fortunately, there are several simple strategies nursing homes can introduce to improve their cleanliness outcomes. Promoting frequent and proper handwashing by staff, visitors, and residents can reduce the infections found on surfaces. One-step multi surface cleaner can erase the infections from surfaces altogether through consistent use.
These strategies are not just safeguards against coronavirus, but a whole host of other infections common in nursing homes, such as lower respiratory tract infections and sepsis Improved surface cleaning and disinfection may be able to reduce healthcare-associated infections by as high a percentage as 85%.
To survive pandemics, the future of nursing homes needs to be a clean one. See the following visual deep dive for more:
As if the pandemic is not bad enough, the Department of Homeland Security (DHS) is investigating a scam involving fake N95 masks.
Effective masks are one of the principle ways to combat the coronavirus and prevent its spread. While important for the population at large, masks are especially vital for front-line health workers who are exposed to the virus on a daily basis. N95 masks are particularly important to health workers, as they provide a higher level of protection than a basic face mask.
Unfortunately, companies are selling counterfeit N95 masks to hospitals and frontline workers. The counterfeits, purporting to be 3M masks, are becoming more difficult to detect, putting health and frontline workers at risk.
“They’re not coming from authorized distributors,” said Kevin Rhodes, 3M’s vice president and deputy general counsel, according to the Associated Press. “They’re coming from companies really just coming into existence.”
“These products are not tested to see if they make the N95 standards,” Rhodes added “They’re not interested in testing them. They’re interested in making as many as they can as cheaply as possible.”
To help combat the counterfeits, 3M has published guidelines to help individuals and companies identify fakes.
Muscle pain is a major issue in the world today. According to a 2017 Global Burden of Disease study, musculoskeletal conditions were the main contributor to disability worldwide. 64 million adults said their condition impacted their daily lives. Muscle pain also has a large impact on the economy. Many U.S. workers are affected by musculoskeletal disorders. Back pain alone leads to 264 million lost workdays each year. That’s an average of 12 missed workdays per person. Half of American adults have musculoskeletal conditions, which costs $214 billion per year in care and lost wages. Hurt muscles can be attributed to a variety of factors. Desk jobs and the workplace are the leading causes of muscle aches.
How Muscle Pain Happens
How do we hurt our muscles? Everyday causes of muscle strain include fatigue, overuse, misuse, and accidents. Activities such as sitting at a desk may lead to biomechanical instability, muscle tightness, and pain, which causes stress to the body. Traumatic accidents and injuries such as falls and car accidents can injure muscles, causing weakness and pain. 1 in 4 American seniors fall each year. Among adults 65 years or older, falls are the leading cause of hospital admissions. Also, overuse of muscles can lead to musculoskeletal issues. Repetitive activities like typing or heavy lifting can lead to muscle tightness and pain. Overuse most often affects the back, wrists, and hands. While musculoskeletal disorders commonly affect working adults, they can affect people of all ages.
What Are the Symptoms?
Symptoms of musculoskeletal injuries include sudden pain, soreness, swelling, tightness, limited range of motion, stiffness, spasms, or weakness. Muscle injuries should be addressed when you are experiencing a limited range of motion because it is a sign of weakness. After an injury, muscle weakness can lead to dysfunction, which is the root cause of muscle tightness and pain. Even minor muscle issues can lead to long-term injuries. Stress, trauma, and overuse can cause prolonged muscle inflammation and pain, which can lead to progressive weakness, increased susceptibility to injury, and degenerating strength and dexterity. Although some issues can start small, it’s important to get the proper treatment before they become worse.
Three possible solutions to muscle pain include physical therapy, massage, and muscle activation techniques (MAT). For some injuries, physical therapy can be as effective as surgery, preventing unnecessary operations. Massaging can also provide benefits to the muscles. A 2015 study found that massaged muscles had a higher blood vessel count than non-massaged ones, and blood vessels are thought to be connected to improved pain recovery. MAT is a powerful muscular assessment tool that analyzes and corrects muscular imbalances.
85% of patients report positive results with MAT. They focus on the cause of pain by testing, correcting, and maintaining muscle contractile efficiency. They believe that flexibility is a derivative of strength, and that muscle tightness is secondary to muscle weakness. MAT works to improve muscle stability and strength to optimize muscle function by analyzing the range of motion to pinpoint muscle function, using muscle-specific palpation to activate dysfunctional muscles, and implementing position-specific isometrics to improve muscle function.
The COVID-19 vaccine was developed faster than any other vaccine in history. This fast pace has made some people nervous to receive it. On average, vaccines take 10-15 years to develop. The previous fastest vaccines developed were for mumps, which took 4 years, and measles, which took 3. The COVID-19 vaccine was created so quickly because scientists around the world collaborated and shared their data. There was previous research into other coronaviruses that made the processes easier, and the mRNA vaccines were developed with readily available materials. Scientists also had help from governments around the world that fast-tracked clinical trials and vaccine approvals.
The Vaccine is Safe
Even though some elements of the vaccine were fast-tracked, it is still safe. The fast-tracked elements did not affect the accuracy of trial results. All COVID-19 vaccines were put through standard clinical trials to determine the safety and effectiveness, which included laboratory trials and 3 phases of clinical trials. Of the vaccines put through clinical trials, only 7% succeeded in preclinical studies.
Despite the facts, misinformation about the COVID-19 vaccines continues to be a problem. The vaccine can not give you the coronavirus because it doesn’t contain any active viral material. Vaccines do not weaken the immune system, cause autism, or damage children or babies. They do protect you against COVID-19 and protect others by helping build herd immunity. From September to December 2020, hesitancy towards receiving the vaccine fell by 5%, but there are still common myths associated with vaccines. Many assume that vaccines aren’t necessary if a person has already been sick, but this is not the case.
People should get vaccinated to prevent reinfection. The vaccine will not end masks and social distancing immediately; full protection against the coronavirus may not develop until weeks after the second shot. Vaccinated people may still be able to act as an asymptomatic spreader as well. Right now, the vaccine isn’t mandated anywhere in the United States.
What Companies are Making the Vaccine
Currently, there are two authorized vaccines available in the United States, Pfizer and Moderna. There are another 3 vaccines in the final phase of clinical trials: AstraZeneca, Novavax, and Janssen. Researching multiple vaccines has helped find a solution quickly, and trials will ensure continuous improvements. If approved, these new vaccines can provide unique benefits. AstraZeneca can be stored in a refrigerator, and the Janssen vaccine is administered in a single dose. Novavax may produce a stronger immune response.
So who gets the vaccine first? The CDC recommends that healthcare workers and long-term care residents receive vaccines first, followed by frontline essential workers and people over the age of 75. After those groups receive the vaccine, younger people and the rest of the essential worker population are eligible to get the vaccine. Vaccines will be distributed through commercial pharmacies, healthcare facilities, local health departments, community centers, large chain grocery stores, schools, and nursing homes. Individual states can adjust eligibility guidelines as they see fit, so it’s important to stay updated by your local health department to see when you are eligible to receive your vaccine. Fight misinformation. Spread just the facts about the COVID vaccine.
Apple has warned the iPhone 12 and MagSafe accessories should be kept a “safe distance away” from pacemakers.
Pacemakers can be affected by magnetic fields. That has caused some concern the iPhone 12 may pose more of a risk, since it has more magnets than previous models.
Apple has updated its support document to warn users of potential issues. The company doesn’t expect the new models to be more dangerous, but recommends an abundance of caution.
Though all iPhone 12 models contain more magnets than prior iPhone models, they’re not expected to pose a greater risk of magnetic interference to medical devices than prior iPhone models.
Medical devices such as implanted pacemakers and defibrillators might contain sensors that respond to magnets and radios when in close contact. To avoid any potential interactions with these devices, keep your iPhone and MagSafe accessories a safe distance away from your device (more than 6 inches / 15 cm apart or more than 12 inches / 30 cm apart if wirelessly charging). But consult with your physician and your device manufacturer for specific guidelines.
iPhone 12 users with pacemakers would do well to follow Apple’s advice and consult with their physician.
Amazon has congratulated President Biden and Vice President Harris on their inauguration and offered its support in ramping up the vaccine rollout.
One of President Biden’s biggest challenges will be significantly increase the pace of the country’s vaccination efforts. In an open letter, Amazon’s Dave Clark, CEO, Worldwide Consumer, made it clear the company is ready to assist.
We have an agreement in place with a licensed third-party occupational health care provider to administer vaccines on-site at our Amazon facilities. We are prepared to move quickly once vaccines are available. Additionally, we are prepared to leverage our operations, information technology, and communications capabilities and expertise to assist your administration’s vaccination efforts. Our scale allows us to make a meaningful impact immediately in the fight against COVID-19, and we stand ready to assist you in this effort.
Clark also makes the case that Amazon’s workers, many of whom are considered essential workers, should be among the first vaccinated.
There is no word yet on whether the new administration will take Clack up on the offer, but it’s a safe bet no options are off the table.
Smartwatches can do much more than count steps, with research showing they can detect coronavirus infections days before diagnosis.
One of the keys to combatting coronavirus is early detection and diagnosis. The faster someone is diagnosed, the faster they can be quarantined and the less likely they are to spread the virus to others. Adequate testing has long been a major problem, making it difficult to get the pandemic under control. Adding to the challenge is COVID-19’s long incubation period, as well as the fact that patients can transmit the disease before they are visibly symptomatic.
According to CBS News, researchers at Mount Sinai Health System in New York and Stanford University in California have shown that wearable devices — such as the Apple Watch, Fitbit and Garmin — can detect coronavirus before symptoms appear and even before tests can detect it.
The key is in detecting minute changes in a wearer’s heart rate, skin temperature and other physiological markers. In particular, heart rate variability is a key factor. Heart rate variability measures the time between heartbeats, and is impacted by the state of a person’s immune system.
“We already knew that heart rate variability markers change as inflammation develops in the body, and Covid is an incredibly inflammatory event,” Rob Hirten, assistant professor of medicine at the Icahn School of Medicine at Mount Sinai told CBS MoneyWatch. “It allows us to predict that people are infected before they know it.”
The findings could be another important step in the fight against the coronavirus pandemic, and will likely lead to a jump in wearables demand.
Google has closed its Fitbit deal, despite investigations and concerns over potential privacy and antitrust implications.
Google announced in November 2019 that it had entered an agreement to acquire Fitbit. Immediately, the company worked to assuage potential privacy concerns over the data Fitbit has access to. The acquisition was largely seen in the context of Google’s desire to use Fitbit to better compete with the Apple Watch.
Despite Google’s assurances, the Department of Justice and EU regulators investigated the potential acquisition, leading Google to make additional concessions to ensure the deal went forward. It appears the concessions Google made paid off, as the two companies have now closed their deal.
James Park, Fitbit’s CEO, president, and co-founder, relayed the news in a blog post:
I’m writing today to let you know that Fitbit is now officially part of Google. It’s an incredibly exciting moment for us as a company and for our Fitbit community of users around the globe.
Park also tried to reassure users their privacy and data would be respected:
The trust of our users will continue to be paramount, and we will maintain strong data privacy and security protections, giving you control of your data and staying transparent about what we collect and why. Google will continue to protect Fitbit users’ privacy and has made a series of binding commitments with global regulators, confirming that Fitbit users’ health and wellness data won’t be used for Google ads and this data will be kept separate from other Google ad data. Google also affirmed it will continue to allow Fitbit users to choose to connect to third party services. That means you’ll still be able to connect your favorite health and wellness apps to your Fitbit account. These and other commitments by Google reinforce why Google is an ideal partner for Fitbit who will continue to put our users first and help further our mission to make everyone in the world healthier.
Alphabet’s Verily and Broad Institute of MIT and Harvard have partnered with Microsoft to advance biomedical research.
Alphabet’s Google and Microsoft may be major rivals in the cloud market, but Alphabet’s Verily — its life and sciences company — is working with Microsoft to help remove the technical barriers for biomedical researchers.
But making use of these important datasets remains difficult for researchers who face huge, siloed data estates, disparate tools, fragmented systems and data standards, and varying governance and security policies.
The new partnership aims to break through those barriers by bringing together Microsoft’s cloud, data and AI technologies, and global network of more than 168,000 health and life sciences partners to accelerate development of global biomedical research through the Terra platform, provide greater access and empower the open-source community. Building on the open-source foundation of Terra, the new collaboration will advance the ability of data scientists, biomedical researchers and clinicians around the world to collaborate in tackling some of the most complex and widespread diseases facing society today.
Emphasizing the importance of a multi-cloud approach, a Verily spokesperson told VentureBeat that “Verily feels strongly that the open data ecosystem should be multi-cloud.”
Biomedical research is more important than ever, especially as the world grapples with a global pandemic. Verily, the Broad Institute and Microsoft’s efforts should go a long way toward easing the technical challenges biomedical researchers face.
As hospitals around the world fill to capacity with coronavirus patients, medical professionals have dedicated their time, safety, and even lives to serve those affected and minimize the spread. Now as the vaccine is released and the public begins to anticipate life beyond the pandemic, isn’t it high time to compensate those who laid down their lives to get us to this point? Augmented intelligence (AI), as opposed to artificial intelligence, is a system meant to work cooperatively with humans to better the institutions already in place. John Nosta, a WHO technology expert on the Google Health Advisory Board, suggests that “the cognitive burden and physical challenges [of healthcare] must be met by the inculcation of technology into clinical practice” in order to not only survive, but to thrive. Apploi is a strong believer that AI technology is the key to subsiding the strain on front line workers who have already given all of themselves during these dark days. In their 2021 healthcare trends report, they outline an ingenious proposal to increase the use of AI technology in the healthcare industry in order to actualize their combined synergy.
AI technology use is actually not as outlandish as some may think. In fact, “AI has already been adopted in many ways in healthcare unbeknownst to patients”, primarily in the form of electronic health records. The way that Apploi plans to take it a step further is by utilizing patient generated data to create the most effective, personalized treatment protocols. The data would have to come from a “variety of sources [such as]: monitoring devices, online purchasing habits, insurers, employers, calendars, and various other data points” which some may consider to be an alarming violation of privacy. However, all of that information is “already generating daily on [the] devices” that are already being used. The only true difference would be that all of that data could go inexplicably far in advancing personalized, medical treatment plans simply by allowing providers to access it.
The installation of AI technology would also exponentially decrease the opportunity for human bias and error, which is an important aspect even in environments that don’t regularly balance life or death decisions. “[C]ognitive capacity, fatigue, [and] social biases” are all universal factors that come with being human, (whether one is willing to admit it or not) and can substantially impact the quality of care that a patient receives which in turn could very well go on to influence whether said patient lives or dies. In these last months alone the demand on healthcare professionals has been astounding, so agreeing to implement an AI system capable of taking on even a fraction of that strain should not take much consideration whatsoever.
As the end draws closer It is more important than ever that adequate time is taken to audit the systems that were hit the hardest by the COVID-19 pandemic. The plan proposed by Apploi requires the improvement on the AI systems that are already in place, which makes it the most ideal part to start with.
As the COVID-19 pandemic rages on, senior citizens have borne the brunt of casualties. This is especially true of those living in nursing homes, though the extent varies. As of September 2020, 25% of US coronavirus deaths occurred in nursing homes; however, 4-5 star nursing homes had 94% lower risk than their 1 star peers. When the current pandemic ends, those disparities will remain. As the Baby Boomer generation of America continues to age, nursing homes will house more people than ever in upcoming years.
Despite the upward trajectory of demand, nursing homes remain unpopular among Americans. Only 19% think nursing homes make seniors better off. Seniors have lots to consider, such as life insurance for seniors. Seniors don’t move into nursing homes because they want to, but because they can no longer care for themselves and lack the resources to pursue other alternatives. The average nursing home resident needs 4 hours of personalized nursing care every day due to diseases like Alzheimer’s or arthritis. Care that intensive is hard to achieve elsewhere.
Unfortunately, meeting senior’s medical needs currently comes at the cost of social isolation. Moving away from friends and routines causes depression in 40% of seniors, a statistic tied to worse health outcomes in a bitter feedback loop. Even before COVID-19, 55% said they didn’t see enough of their families, a sad reality that generates a sense of loss and abandonment in nursing home residents.
Nursing homes need to adapt. They must find ways to either increase social outcomes for residents or give seniors the tools they need to live independently. As Rosalie Kane, Ph.D. professor of health policy and management at the University of Minnesota, said, “nursing homes are places to live, in addition to clinical settings… Health care needs might be met at the expense of drastically changing someone’s daily life and routines for the worse. The challenge is to pay attention to quality of life as an outcome in itself, and see how health care may be related to quality of life.”
Advances in medical technology are improving the quality of nursing home care all around. Some innovations can even help seniors regain independence and return home. Current tech includes Solo-Step, a rehabilitation harness that prevents fall-related injuries and lets users move about more freely, and Aiva voice assistant, which gives seniors an easier way to communicate with other residents, family members, and caregivers from a distance. These devices are available now; the longer they’re on the market, the more chances they’ll have to proliferate. Future technologies include The Kidney Project, an artificial kidney that would remove the need for dialysis in recipients. These products give aging people a chance at a brighter future in spite of the current health crisis.
As Elaine Ryan, Vice President of Government Affairs for State Advocacy at AARP, says, “this pandemic has made us painfully aware that we can’t ignore our most vulnerable people. Americans always respond to a crisis. And there is hope that, with innovative ideas and bold action, they will again.”
The French military has been granted permission to develop augmented troops by an ethics committee tasked with evaluating the issue.
Bionic humans, augmented with technology, have been a major feature of science fiction for decades. The Six Million Dollar Man was a popular TV show about a USAF Colonel given bionic limbs, implants and abilities following a test flight crash.
While many prosthetics focus on restoring lost functionality, technology is reaching the point where such prosthetics may go beyond restoration, squarely into the realm of improvement. High-tech prosthetics may be able to enhance a soldier’s strength, cognition, speed and more, not to mention offer built-in connectivity and other electronic abilities. Augments could even help a soldier deal with pain from injuries, or resist enhanced interrogation.
According to CNN, French armed forces minister Florence Parly ruled out any “invasive” augmentations. The ethics committee also ruled out any modifications that inhibit a soldier’s ability to control their own strength, or anything that desensitizes their “humanity.”
Much of France’s approach seems geared more toward keeping pace with potential threats than wholesale adoption.
“But we have to be clear, not everyone has the same scruples as us and we have to prepare ourselves for such a future,” Parly said in a press release.
Amid increased antitrust scrutiny, at least one expert is predicting Jeff Bezos and Amazon may spin off AWS.
AWS is currently the dominant cloud provider, with 31% of the cloud computing market. At the same time, Amazon is a major force in the e-commerce market, and several of its acquisitions have helped it became a significant player in other industries. Whole Foods, Ring and Twitch are just a few of the acquisitions that have made Amazon a powerhouse far beyond its original form.
The company’s expansion into other markets has drawn the attention of the government, as it looks closely at Big Tech in general. While the current scrutiny has come under a Republican administration, Democrats traditionally come down even harder on big business, raising the stakes with an incoming Biden/Harris administration.
Scott Galloway, Professor of Marketing, NYU Stern School of Business, spoke with CNN’s Michael Smerconish about the antitrust challenges facing tech companies.
“It’s a real concern for all of them. There’s already a case against Google, which I think the Biden/Harris administration will pick up. The shadow of the Biden/Harris administration has already resulted in more change at Facebook and Twitter than we’ve seen in a long time. [They’ve] made huge efforts to try and stop the spread of misinformation around the COVID-19. And I would argue that it’s tantamount to teens who have held a great party and their parents are coming home, and they’re trying to clean up their act.”
Professor Galloway then spoke specifically about the lengths Amazon may go to avoid antitrust issues.
“As it relates to Amazon, it will be Google, then likely Facebook for antitrust action. I do think it will happen to Amazon, but not until those two are done. I personally think Jeff Bezos, who’s the smartest businessperson in the world, will likely spin AWS prophylactically. And my prediction, Michael, is that in the year 2025, the most valuable company in the world will be a recently spun, independent AWS. The largest, most profitable cloud company in the world would be a stock that everyone would own.”
McDonald’s is the latest fast-food company to offer plant-based meat alternatives with its McPlant lineup.
Plant-based meat alternatives have been growing in popularity as a healthy alternative to traditional meat. Burger King, Dunkin’, Carl’s Jr., Qdoba, Subway and White Castle are just a few of the chains offering plant-based alternatives.
McDonald’s is now joining that growing list of restaurants with its McPlant, based on Beyond Meat.
“Beyond Meat and McDonalds co-created the plant-based patty which will be available as part of their McPlant platform,” a Beyond Meat spokesperson said, according to CNN Business.
Initially, McPlant will be used for a burger, but the company may eventually expand to include plant-based breakfast and chicken alternatives. The company will be testing the burger in select markets beginning next year.
John Hancock is offering customers who commit to regular exercise an Apple Watch Series 6 or an Apple Watch SE for as little as $25.
John Hancock, life insurance company, has offered Apple Watches since 2017 as part of its John Hancock Vitality Program. The program provides steep discounts on the wearables in exchange for customers exercising. The company now includes Apple’s latest models in the program, offering both the Series 6 and the Apple Watch SE.
“While John Hancock Vitality offers something for everyone, it can be especially impactful and beneficial for people in higher-risk health categories or those who are concerned about their personal health — something that is top of mind for many right now,” said Brooks Tingle, president and CEO of John Hancock Insurance. “Consumers are more mindful of their mortality and we’ve seen an increase in the demand for life insurance. In addition, people are more aware of their baseline health. That’s why we believe we have the right solutions for this time in history — life insurance that provides essential protection in the event of death, combined with the latest in personal health technology, including Apple Watch, to help our customers live longer, healthier lives.”
The program requires customers to pay $25 plus tax, with the remaining balance divided into monthly payments over a two-year period. Customers who exercise regularly will see those payments reduced to as little as $0.
“There’s a real recognition that digitization and transformation are not doing what you used to do in the physical world,” says Publicis Sapient CEO Nigel Vaz. “Digitizing that and translating that is essentially the journey of going from being a caterpillar to a butterfly. Real transformation. How do you reimagine yourself in the context of a world that now is entirely digital? Customers are thinking very actively about how they actually create products and services that essentially create value for customers entirely digitally.”
Nigel Vaz, CEO of Publicis Sapient, discusses how the current pandemic has forced organizations to reimagine their businesses digitally. Nigel works closely with clients such as McDonald’s, Nationwide, and Unilever to deliver transformative experiences and business models:
https://youtu.be/VOKcTLcxHXw
Businesses Being Reimagined In A World That Is Now Entirely Digital
Digitization Has Become Existential For Business
I think Digital has always been important for business. Now more than ever what’s becoming very clear is this has gone from being something that’s important to something that’s existential. How do you support customers to make orders entirely online when your stores are closed? How do you create mashups with other partners to be able to facilitate deliveries when your own deliveries don’t suffice? How do you try to create experiences online through self-service that minimize the impact of people calling your call centers?
All of these things are things clients are facing on a regular basis. Most CEOs I’m in conversation with are acknowledging the fact that this has now got to be a priority, that they have to be ready more so than they’ve ever thought before.
3 Key Things Happening With the Transformation
There are three things happening here in terms of transformation. The first is the change in human behavior where I think there’s a recognizable shift now. We’re seeing significant accounts of over-70s, for example, ordering from retail and ramping that up. We’re seeing a big shift in institutions like schools and educational institutions, which historically had not thought about transformation as particularly applicable to them.
We’re also seeing a shift in industries like leisure looking at creating virtual experiences since physical experiences are essentially restricted and people can’t use them. The human behavior shift is translating to big investments in technology and technology platforms that enable this.
Businesses Being Reimagined In A World That Is Now Entirely Digital
Then lastly, new business models. There’s a real recognition that digitization and transformation are not doing what you used to do in the physical world. Digitizing that and translating that is essentially the journey of going from being a caterpillar to a butterfly. Real transformation. How do you reimagine yourself in the context of a world that now is entirely digital?
Customers are thinking very actively about how they actually create products and services that essentially create value for customers entirely digitally. There are plenty of examples in this from telemedicine and from the educational space with new courses coming online which can scale faster than traditional courses limited by a classroom and a professor.
“COVID, while it’s hard and it’s been difficult, has really validated the importance of our technology,” says Dexcom CEO Kevin Sayer. “What we’ve learned most interesting here is the effect of our device on telemedicine. Where patients can’t go to the clinic, because our device goes to the phone and into the cloud, they can have a session with their physician right at home because the doctor has the information right in front of them.”
Kevin Sayer, CEO of the high flying continuous glucose monitoring company Dexcom, discusses how COVID as validated their technology:
The Quick and Dirty of Dexcom Technology
Here’s the quick and dirty on how our device works. It is a small sensor, a small wire about the width of a human hair is inserted just under your skin. That’s inserted with the needle and the needle’s retracted very quickly. It’s attached to a base and that base remains on your skin. Then a transmitter is placed in there. That transmitter takes an electrochemical signal from that sensor and turns it into an estimated glucose value and then sends that value directly to a phone. The thing that is so fascinating about this company and this technology is we have every engineer of every kind to develop this. This includes electrical engineers, software engineers, mechanical engineers, everywhere across the board to give this technology to patients.
Then what happens with that glucose value when it goes to the phone, a patient can look at their phone and see where their blood sugar levels are, how fast they’re trending up or how fast they’re trending down. They will get alerts or alarms. On top of that, they can connect with others who might be concerned about their condition and other people can follow them.
The current device is a little bigger than a quarter on your skin. It’s not very big. Our device has a 10 day life so you put it on one side for 10 days, you take it off and then put another one on 10 days after that so you don’t have it all the time. You can also bathe or shower with the device. There are amazing stories of athletes who have run marathons with it on. One athlete who spoke to our company did seven marathons on seven continents in seven days wearing his Dexcom. Things of that nature happen all the time.
COVID Has Really Validated Our Technology
Access through the insurance companies is very widespread now. We’re covered by almost every major plan. We have Medicare coverage for Medicare patients and we’re covered in most of the Medicaid environment as well. With respect to the COVID environment, there has been an increased uptake as you can see by our financial results. I think what we’ve learned most interesting here is the effect of our device on telemedicine. Where patients can’t go to the clinic, because our device goes to the phone and into the cloud, they can have a session with their physician right at home because the doctor has the information right in front of them.
Add to that, we got an emergency exemption from the FDA to where our product can be used in the hospitals. Diabetes and COVID are very much comorbidities. Patients in the hospitals that have used the technology have seen significant decreases on the health care professionals. The PPE time they have to spend with the patients, better glucose outcomes, and they get to leave the hospital much faster. So COVID, while it’s hard and it’s been difficult, has really validated the importance of our technology.
Dexcom CEO Kevin Sayer: COVID Has Really Validated Our Technology
“It was a strong quarter for us certainly across almost every metric,” says PayPal CEO Dan Schulman. “What’s happened is the world has accelerated from physical to digital across almost every industry. If you look at health care it’s all about telemedicine right now. If you look at education it’s about remote learning. If you look at the retail industry it is now about online almost over offline or physical locations in store. If you look at the restaurant business you really can’t be in business.”
Schulman says that it is imperative for businesses to move toward a digital-first strategy. “If all you’re doing is trying to serve customers at your location given social distancing and the number of people coming out (you won’t survive),” he said. “You have to be about takeout and delivery. Across every industry, we’re seeing this surge towards a digital-first strategy. All of the tools and products and services that we offer are probably more relevant and important across multiple industries than they’ve ever been before.”
PayPal CEO: Across Every Industry, We’re Seeing a Surge Towards a Digital-First Strategy
Doordash has announced that they have partnered with Walgreens to ultimately bring the entire Walgreens store to the door of 100 million Americans.
Doordash COO Christopher Payne discusses their new Walgreens delivery collaboration and explains how this deal is part of their customer-centric focus which has driven the company’s growth from its founding:
We Are Bringing The Entire Walgreens Store To Your Door
Our new partnership with Walgreens is going to be fabulous. We have 2,300 items that will be available to the Doordash customer base. We cover about 100 million Americans. This will bring for the first time Walgreens products in over the counter medicine, grocery, and household items and other categories that are totally appropriate for this COVID crisis that we are in.
While we are starting with 2,300 items we are going to rapidly grow that to 5,000 items, essentially bring the entire Walgreens store to your door on demand. That’s the key thing.
With COVID We Shifted Into Going Beyond Restaurants
One of the things we did with COVID is we shifted into going beyond restaurants and focused on empowering local economies by bringing other things that people want to be delivered into their home. Walgreens is a perfect example of that. We are going to ramp up to cover all of their stores over the coming months.
That will touch 100 million Americans. That’s a huge announcement today and we are thrilled to be in a collaboration with Walgreens.
Core To Us Is Listening To Our Customers
One thing that is true of this space is that it has been competitive since day one. What sets Doordash apart is we are not focused on our competitors. We have been focused on our customers. That is one of the core values of Doordash and is one of the key reasons we have a market share lead in food delivery in the United States. We are going to continue to focus on that. Core to us is listening to our customers and being merchant first.
Our original vision was to empower local economies. The idea is that we want to connect every local business to every local consumer. That’s a very different strategy than just broad ecommerce. That is making these businesses successful that are around you and me. That’s what sets Doordash apart and what will continue to set Doordash apart.
We Are In The Early Days Of This Category
We are in the early days of this category. We are not focused on what our competitors are doing. That is the right strategy for us. However, we won’t rule out potential acquisitions. We did a Caviar acquisition last last year that has gone incredibly well. Our focus has been on helping our merchants thrive. A great example of that is what has happened with COVID-19.
We swung into action back in March and April and designed a program called Main Street Strong. This exemplifies what I mean by merchant first. We built a program that generated $120 million in relief for merchants to keep them on their feet.
Doordash Restaurants 4-Times More Likely To Survive COVID
One stat that I love to share is restaurants that were on Doordash during this crisis were four times more likely to make it through the first wave by being on the platform. That $120 million in relief took the form of commission and promotion to drive sales to small businesses. We will continue to focus on our customers, our merchants, and our Dashers and that is what is key right now. We are not going to be bothered by what other companies are doing.
Technological advances of recent years have made the pandemic much more tolerable than pandemics of the past. We have access to each other via multiple digital platforms, from social media to video chatting. We have access to news through the internet and social media so we know what’s going on in the world, good and bad. We have access to whatever supplies we need to shelter at home, from a new couch all the way down to basic needs like food. Everything we need or want is available at the touch of a button, including medical care.
Telehealth and telemedicine have really been bridging the gap throughout the duration of the pandemic. There are subtle differences between the two, though. Telemedicine is specifically the practice of medicine through remote means, such as when you have a video conference with your doctor to discuss whether a new medication is working.
Telehealth encompasses telemedicine but also encompasses several other types of practices, as well. When medical providers meet to discuss latest techniques or a patient diagnosis virtually, that is a function of telehealth.
When a hospital does patient outreach and education virtually, such as a parenting class via video meeting, that is also a function of telehealth.
Telehealth covers all the virtual aspects of healthcare that are taking place now more than ever in an effort to keep vulnerable patients safe and extend access to healthcare to those who aren’t able or comfortable with going to the doctor’s office in person.
These electronic breakthroughs are not without risk, though. Regulations have been relaxed during this time of pandemic to make it easier for patients to receive medical care through any means possible, including unsecured video conferencing. The downside here is that patient personal information can be accessed when it is sent over unsecured channels, but right now the need to keep patient access flowing outweighs the need for privacy.
Medical providers also have reservations about this type of healthcare in the long term because of concerns about accuracy and privacy.
But for now, telehealth and telemedicine are popular options. As more medical providers equip themselves with the specialized equipment and apps to provide higher quality remote medical care, people who have mobility issues, are immunocompromised, or those who live in rural or remote areas will begin to have greater access to healthcare.
Technology for remote healthcare is improving rapidly, too. Telemedicine carts feature all kinds of instruments that can be used by a qualified medical technician to take readings that a doctor or specialist far away can use to accurately assess what a patient needs. This technology is likely to revolutionize access to medical care across the world.
Patients want access to remote options for medical visits, especially when those visits are routine. Technological advances are making receiving medical care remotely safer, more accurate, and more secure than ever. As providers and hospital groups adopt this technology more patients will have access. Learn more about the differences between telehealth and telemedicine from the infographic below.
