Screen shot from TytoCare telemedicine solution
In a bid to address Japan's aging population and mitigate the shortage of nursing staff, TytoCare, an Israeli medical diagnosis and examination provider, has entered into a strategic collaboration with Light Vortex Division, the digital arm of Japanese insurance giant SOMPO. This partnership is set to target the nursing home and elderly care market in Japan, with the backing of regulatory approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA), alongside cooperation with Japanese company Allm.
Japan is grappling with one of the world's most substantial and rapidly growing aging populations. This demographic shift is largely a result of the country's low birth rate, with over 30% of its population now aged 65 and older. In contrast, Israel's elderly population ranges between 10% and 15%.
The collaboration between TytoCare and Allm is spearheaded by the Sompo Israel Innovation Center in Tel Aviv. This center is responsible for fostering partnerships and investments in various technology sectors, including insurtech, digital health, transport, blockchain, cybersecurity, and more.
SOMPO currently operates a network of 301 nursing homes with 28,500 rooms, along with 58 day centers and 505 facilities catering to older generations in Japan. The country's high proportion of elderly citizens has posed significant challenges in terms of healthcare demand and shortages in nursing care.
Yinnon Dolev, Head of the SOMPO Innovation Center in Israel, shed light on the collaboration's objectives, stating, "The collaboration between the three companies aims to upgrade the care of the elderly through the groundbreaking solution developed by TytoCare in the field of remote medicine, which includes a diagnostic camera, a digital stethoscope, and an AI-based clinical insights module that assists doctors in diagnosis. The purpose of the collaboration is to produce optimal data-based medical care, in places where the medical staff is not physically present."
TytoCare is a pioneer in virtual healthcare, offering a Home Smart Clinic that empowers leading health plans and providers to deliver remote healthcare services to families. This innovative solution combines a user-friendly FDA-cleared device with AI-powered guidance and diagnostic support, enabling families to conduct remote physical exams with doctors, replicating in-clinic examinations for immediate answers at home. TytoCare boasts utilization rates five times higher than traditional telehealth services, reduces the total cost of care by an average of five percent, diverts emergency department visits by an average of 10.8%, and maintains a high average Net Promoter Score (NPS) of 83. In addition to its Home Smart Clinic, TytoCare offers the Pro Smart Clinic for professional settings outside the home, serving rural clinics, schools, workplaces, and more. TytoCare serves over 220 major health systems and health plans across the United States, Europe, Asia, Latin America, and the Middle East.
Original article: https://www.calcalistech.com/ctechnews/article/rklb5aaan