Biotricity on the Divergence between Profit and Ethics in the Health Tech Industry
In recent years there has been a literal explosion in the health tech industry with new products and apps hitting the market at breakneck speed. While there is a real need for health monitoring devices and relevant software, the need for speed cannot surpass the need for accuracy. Never before has this been more apparent than with the rise and ongoing fall of Fitbit due to mis-advertisement in their wearable monitoring devices. Biotricity notes that making a profit is nice but working towards a profit at the cost of reliability has no place in the healthcare industry. Lives are at stake so any devices and associated software need to be accurate before they are released onto the market.
Biotricity CEO Explains the Need to Pursue Profit to Better the Science
In a recent article printed in Investing News, CEO and founder of biotricity.com, Waqaas Al-Siddiq explained that revenue leads to a changing landscape in healthcare. Al-Siddiq said that revenue is vital to ongoing research and development as well as in paving the road to new markets. In referring to his focus of that article, he explains that “The end should always justify the means in terms of raising capital to continue research and development. Sure, we are all in this to make money, it’s what we do for a living, but to us it is so much more. We intend to overcome the shortcomings associated with defective wearables, especially when it comes to BioLife.”
The Need for Biometric Accuracy
The CEO goes on to talk a little about their latest wearable, BioLife. “What use would a cardiac monitoring wearable be if it didn’t return accurate biometric readings and transmit those readings to the healthcare provider? That is the problem that Fitbit is having and although that is what lawsuit after lawsuit is claiming it could be more likely that Fitbit has a totally different market to other health tech. Fitbit should have been marketed as a fitness device that is ideal for people who want to generally track their heart rate and calories burned, but isn’t ideal for people with more specific medical needs”.
Devices like the Apple Watch and the Fitbit certainly have a place in the market, but they shouldn’t be marketed as medical devices — and this is where the issues are arising. They are perfectly suitable for healthy individuals who attend the gym every day, but they are not suitable for unhealthy people who require more specialised medical devices. The Apple Watch and the Fitbit are fitness devices, not medical.
Biotricity’s BioLife Cutting Edge Technology Excels in Accuracy
BioLife is Biotricity’s heart monitoring device that does so much more than monitor and record heart rhythms. It is a wearable device that also tracks activity, calories, respiration, temperature and so much more. It is the mission of Biotricity to put healthcare back into the hands of patients so that instead of spending time managing their health they can live a fuller quality of life. There is no room for error when it comes to tracking the vital signs of a heart patient and that’s why Al-Siddiq is so adamant about the need for accuracy.
By giving heart patients the ability to track biometrics relating to heart health they can become proactive in their own care. Biotricity is a firm advocate for prevention. Why react to symptoms when BioLife’s accurate readings give you the ability to adjust your lifestyle as you go before a problem ensues? This is what ethical health tech should be all about and it’s why Biotricity is gaining momentum by the day.