- Biotricity's AI automation engine has already proven to increase operational efficiency and support growth, evidenced by the Company's recent margin improvement
- The Healthcare AI Market is projected to soar to $208.2 billion and remote patient monitoring (RPM) market anticipated to reach $96.67 billion by 2030
- Biotricity is now expanding its Cardiac AI platform, building anonymized clinical models to support clinical decisions with expectations to file for FDA by the end of the year
REDWOOD CITY, CA / ACCESSWIRE / March 12, 2024 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading Technology-as-a-Service (TaaS) company reshaping the landscape of medical diagnostic and consumer healthcare, announces expansion of its Cardiac AI Cloud platform: the company is building a cardiac AI clinical model which distills important information to support clinician in cases that require clinical intervention or review. The company expects to file an FDA clearance for its clinical model by the end of the year. The healthcare AI market is projected to soar to $208.2 billion by 2030 per Grand View Research. With a projected market value of $96.67 billion by 2030, about 30 million patients are currently enrolled in remote patient monitoring (RPM), creating vast quantities of data for clinicians. That number is anticipated to surge to 70.6 billion by 2025, exponentially increasing the data quantity.
Biotricity expects its state-of-the-art solutions, fueled by its future Cardiac AI Cloud platform, to empower healthcare professionals in the face of increasing resource shortages and a growing chronically ill population. Providers will be enabled by the Company's revolutionary technology to manage significantly larger patient volumes while being alerted to critical data. This expands the reach of healthcare services to a broader audience, bridging medical accessibility gaps like never before.
Already deployed, Biotricity's AI automation engine has demonstrated its effectiveness in increasing operational efficiency while supporting growth. This effectiveness of Biotricity's approach can already be seen in the company's continually improving margins. The company plans to continue to expand its automation engine alongside the development of its clinical engine.
Biotricity is expanding its proprietary cardiac AI clinical model with key partner technologies, including Google's TensorFlow and Amazon Web Services infrastructure. By harnessing the power of big data and continuous learning engines, the Company is advancing to new heights. Biotricity's focus is now on expanding data capabilities to develop predictive analytics for early detection, preventing the onset of cardiac conditions, and, if heart disease is developed, mitigating adverse events. Through the analysis of our anonymized data set comprised of over 500 billion heartbeats and once FDA cleared, the Company's new AI clinical model is poised to enhance diagnostic accuracy, optimize treatment plans, and significantly improve patient outcomes. Biotricity anticipates filing for FDA clearance for this groundbreaking AI clinical model later this year.
"We're thrilled to announce this latest expansion to our Cardiac AI Cloud platform. As the healthcare landscape continues to rapidly transform, Biotricity remains steadfast in its commitment to revolutionizing medical diagnostics and consumer healthcare. Our proprietary AI technology, fortified by partnerships with industry giants, empowers healthcare professionals to navigate the complexities of patient care with unparalleled precision and efficiency. With a relentless focus on innovation and leveraging over 500 billion beats of anonymized data, our Cardiac AI Cloud platform will not only enhance clinic profitability but also pave the way for transformative advancements in diagnostic accuracy and patient outcomes," said Dr. Waqaas Al-Siddiq, Ph.D., Founder, Chairman, and CEO of Biotricity. "As we embark on the journey to an FDA clearance for our groundbreaking AI clinical model, we stand poised to redefine the future of cardiac care, ensuring every patient receives the quality of care they deserve."
For Investors interested in learning more about Biotricity, its robust revenue trajectory, and its comprehensive suite of medical diagnostic and consumer healthcare technologies, visit www.biotricity.com/investors.
About Biotricity
Biotricity is transforming the healthcare market by bridging the gap in remote monitoring and chronic care management with a focus on cardiology. Physicians and patients trust Biotricity's unparalleled standard for preventive and personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com and follow us on Twitter and LinkedIn.
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SOURCE: Biotricity, Inc.
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