Enabling a Unique Device Monitoring for Home-Care Settings
Advanced analytics & AI can enable Medical Device and Technology companies to remotely monitor the health of their equipment. Our client wanted to make use of this technology to monitor home-care devices in order to ensure performance and detect failures in advance, reducing service costs, increasing device availability, and improving patient safety.
The medical device client lacked data-based insights to improve the patient experience, reduce fleet maintenance costs, and identify business potential from IoT and digitalization as part of their larger digital company agenda. Additionally, the traditional service business incurred high maintenance costs due to returns of non-defective devices.
Our team of data analytics and innovation experts created a connected IoT field device setup with advanced analytics algorithms for condition monitoring, along with an underlying business case and integration into the existing service process landscape. The connected device included a custom sensor setup, a cloud-based platform, and custom AI models, designed to be retrofitted to the existing fleet.
Together with the client, we identified up to a 25% reduction in faulty machine returns per year, along with a reduced required fleet size and increased patient outcomes and treatment times, resulting in annual savings of 6-7 million USD.
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