28 April 2022 | News
To expand remote vitals monitoring in Australia and Singapore
Image credit: shutterstock
HealthBeats, a Singapore-based healthtech startup with end-to-end remote vitals monitoring solution, has announced the close of a $3 million seed round led by healthcare investor Heritas Capital together with SEEDS Capital, the investment arm of government agency Enterprise Singapore.
The HealthBeats Remote Vitals Monitoring platform provides healthcare providers and patients with a simple-to-use and simple-to-deploy solution to remotely monitor patients at home using clinical-grade medical devices. The user-friendly platform supports a wide range of diseases using regulatory approved devices from multiple brands, and covering various vitals such as temperature, blood oxygen saturation, blood pressure, blood glucose, body weight and more. Vitals are transmitted real-time to healthcare providers for proactive care management.
According to a large-scale Commonwealth Scientific and Industrial Research Organisation (CSIRO) telehealth study funded by the Australian government, remote monitoring of chronic diseases has the potential to save up to A$3 billion a year through reduction of avoidable admission by 53.2% and reduction in rate of length of stay by 75.7%. Australian healthcare providers have also demonstrated positive clinical outcomes from the deployment of HealthBeats Remote Vitals Monitoring solution with some of them reporting reductions in avoidable hospital admissions by up to 50%. The HealthBeats platform has also defied common belief that elderly chronic patients are less technological savvy with the largest pool of patients being aged 61 and above, with those aged 81 and above achieving the highest adherence even after 6 months.
HealthBeats has deployed its Remote Vitals Monitoring solution to 30 hospitals and clinics across Australia, working with various Primary Health Networks (PHNs) and Local Health Districts (LHDs) supporting various use cases such as chronic disease management, post-hospitalisation, emergency response for Covid-19 and clinical trials.