Predictmedix (CSE: PMED) (OTCQB: PMEDF) (FRA:3QP) is an emerging provider of rapid health screening and remote patient care solutions globally utilizing the Company’s Safe Entry Stations, which are powered by a proprietary artificial intelligence, AI.
On Wednesday, May 10th, the company announced ‘AI Predictmedix Launches AI-Driven Comprehensive Triage Solution with Expanded Vital Parameter Measurements for high traffic hospitals in the targeted Asian Region.
“We are excited to launch our triage solution in high-traffic hospitals in Asia, where the need for advanced healthcare technology is critical,” said Dr. Rahul Kushwah, CEO of Predictmedix, “Our solution will help hospitals manage their resources more effectively and provide patients with the care they need.”
Using artificial intelligence technology, Predictmedix’s Safe Entry Stations already screen individuals for vital parameters such as temperature, heart rate, respiratory rate, and oxygen saturation: With the added ability to measure systolic and diastolic blood pressure,
Safe Entry Stations now provide even greater accuracy for its healthcare applications and workplace and law enforcement screening tools.
On Saturday, May 6th, the Company hosted a demonstration at Seneca College in Toronto: 200-plus attended. Dr. Kushwas, the CEO, was also in attendance.
The first utility of the technology is for triage solutions in an Emergency Room (ER) setting.
Right now, a common ER experience is after you’ve waited for an hour or six, you meet a triage nurse with several medical devices to measure your vital parameters. What about replacing that whole area with a PMED Safe Entry? All the patient has to do is stand in front of the Safe Entry Station for a few seconds, and right away, you have all that information in real time.
This development means you have a safe entry at the front end, a hospital management system at the back end, and patient monitoring.
CEO comments are shown here for those who didn’t attend the demonstration. They have yet to be produced elsewhere.
First, Dr. Kushwas set out the challenges for patients and hospitals.
‘It all comes down to a red or green light.’
1. First, we need accurate diagnoses and timely treatment. This development may result from the variance in the physician’s expertise. How do you make that uniform? How do you remove that bias when it comes to diagnosis?
2. How do we determine that a patient is not on track to some outcome that will lead to high morbidity?
3. Next, there needs to be more real-time monitoring of patients, which can lead to delays in diagnosis and poor outcomes.
4. The experience with Emergency Rooms is you wait for hours. How can we make ERs more efficient and save money?
Next, we should think about workplace health and safety. For example, in Canada, employers must have some form of Fit for Duty monitoring. When people come to work, are they fatigued or impaired? Are they fit for work? In a society where you have alcohol, cannabis, and opioids, it’s a real problem. For alcohol, we have breathalyzers based on a correlation between alcohol levels in the blood and impairment. For cannabis, this is not a solution. To be impaired by cannabis, THC must cross the blood/brain barrier.
Our Safe Entry Station has multiple uses.
We have developed a Safe Entry Station that has multiple uses. Creating such an artificial Intelligence technology requires large amounts of clinical data for algorithms to become accurate. We have partnerships in many places around the world that provide this data. We have tested 50,000 individuals. This advance has allowed us to develop sufficient accuracy for full-scale commercialization.
Question: How exactly do you do it? Can you do it on a roadside device?
Answer: We use multispectral imaging. We scan different parts of the face to see how the blood flows. We look at how fast it is flowing and subtle changes in temperature.
We already have a mobile “analyzer” device. Law enforcement can load our AI app on their cell phone, which is then connected to a small multispectral camera. The camera scans a person’s face for a few seconds; the data runs through the app that connects to our algorithms and provides the answer in seconds.
We are also looking at the entire field of mental illness.
Right now, a patient is prescribed medications that may or may not work. If the medicines do not work, there are a range of possible outcomes, and the worst case is suicide. We have worked for over a year to identify predictive signs for depression, dementia, and Alzheimer’s. We will be ready for a rollout soon.
Practically, in a non-medical environment, we can also use our Safe Entry Stations for significant public events such as F1 racing or the Super Bowl.”
Bottom Line
Investors can see that the above represents a quantum leap in medical and AI technology. While AI holds promise, PMED has developed significant real-world solutions. These advances are such that PMED will change the way care is delivered and deliver significant cost efficiency for medical institutions and governments.
Dr. Kushwah has repeatedly said that when it comes to healthcare or workplace health and safety, it is PMED’s goal to be the only piece of technological equipment you will need in an ER or hospital for triage. The more one reads about AI and its current state of development, the more it is possible to appreciate and potentially profit from PMED’s rapidly developing technology.
Posted on Behalf Of Predictmedix
Bob Beaty
For over 30 years, Bob Beaty has been explaining concepts and companies to the global investment community. One of the original writers for Jim Cramer’s Thestreet.com, he also wrote for AOL (Can/US), the Globe and Mail, and the Huffington Post. Over that period, he illuminated small-cap companies to investors with wit and pith but mostly opinion and facts. Investing should be fun. Pedantic, staid content is no fun.
Before embarking on his writing career, Bob had a successful international journey in the finance industry. He served as a broker, derivatives product manager, and a Director of London's Credit Suisse subsidiary. His career spanned across major financial hubs including Toronto, Vancouver, and the UK, giving him a unique global perspective. (He is still fondly remembering those English client lunches.)
Other than everything Groucho Marx and George Carlin ever said, Bob lives by a simple credo;
‘Never do anything the person standing in front of you can't understand.’ Hunter S. Thompson.
Let’s go.
