BioT’s year in review and predictions for 2023

Dear MedTech Innovators,

I hope this letter finds you well. As we look towards 2023, I want to express my appreciation for your support and interest in BioT. I also want to share with you some insights regarding the medical device cloud-native market, key accomplishments from 2022, and our goals for the upcoming years.

In 2022, we saw several trends around the continuous growth of cloud-native medical devices that we expect to continue in 2023. Here are some facts and figures we thought would be interesting to share with you:

• 92% of our customers are using the cloud to change their business models, with a focus on selling services instead of capital equipment and building recurring revenue plans.
• 67% of our customers are using or plan to use the cloud to run algorithms that previously ran on the device.
• 63% of our customers are using the cloud to engage directly with patients, mainly through the addition of patient mobile apps.
• 38% of our customers are introducing continuous and real-time remote patient monitoring solutions.

In addition to traditional domains such as diabetes, cardiovascular, and respiratory, we have seen rapid growth in cloud adoption in areas like neuromodulation, orthopedics, point-of-care diagnostics, ultrasound related devices, and aesthetics. We are also seeing an increasing number of domains that were traditionally treated in hospital and clinic environments, shifting towards home treatment, including oncology and nephrology.

2022 was a groundbreaking year for BioT, marked by the successful launch of our Gen2 No Code Self-Service platform, the opening of our offices in the US, and the development of new strategic partnerships with cloud providers, key systems integrators, design houses, and other ecosystem players. For additional information, contact us.

We introduced several exciting new features to our platform in 2022, including an Algorithm Management System, that enables our customers to easily plug in their own algorithms, and No-Code patient engagement modules, such as questionnaires and adherence management. We have further expanded our device management capabilities with No-Code mechanisms for FOTA updates, command creation, and different usage types, allowing any device to operate in a variety of medical scenarios and from continuous monitoring to remotely operated spot sessions. We also introduced advanced access control  and privacy related mechanisms that comply with the latest cybersecurity and privacy regulations and guidelines globally, and adapt to future changes as they emerge.

BioT is committed to staying at the forefront of innovation in the cloud-native medical device industry. This includes our direct involvement in leading industry standards for medical devices and cloud, and partnering with key medical device companies to drive new concepts, operations, and business models.

As we move forward, we are excited to continue delivering high-quality, innovative solutions that improve collaboration and enhance patient outcomes. In 2023, we plan to introduce new features and capabilities, including an AI mechanism for detection of device faults through analysis of variations in the device’s medical observations, an advanced alerting mechanism, advanced AI based adherence prediction model, and various tools for data scientists.

We value your trust and confidence in BioT, and we are committed to meeting and exceeding your expectations. Thank you again for your loyalty and partnership.

Sincerely,
Daniel

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