Smart Medicare, based on DigiScan core technology, will incorporate the latest development in mobile scanning hardware developed by its technological partner, combined with customised functional software developed by Episcan Ltd. The hardware, combined with a customised mobile application (app) technology, will be able to deliver an integrated, sophisticated solution for medication identification/smart medication management addressing some of the extremely complex issues relating to prescription errors and fragmentation of communication and data administration between the general practitioner, hospital, pharmacist and patient thereby becoming an important driver of better and improved healthcare in general and specifically advancing eHealth management.
The market potential of eHealth is strong. The global telemedicine market has grown from $9.8 billion in 2010 to $11.6 billion in 2011, and is expected to continue to expand beyond $27.3 billion in 2016, representing a compound annual growth rate of 18.6%. eHealth can deliver more personalised ‘citizen-centric’ healthcare, which is more targeted, effective and efficient and helps reduce errors, as well as the length of hospitalisation. It facilitates socio-economic inclusion and equality, quality of life and patient empowerment through greater transparency and access to services and information. Furthermore, fostering a spirit of innovation in eHealth in Europe is the way forward to ensure better health and better and safer care for EU citizens, more transparency and empowerment, a more skilled workforce, more efficient and sustainable health and care systems, better and more responsive public administrations, new business opportunities and a more competitive European economy that can benefit from international trade in eHealth. Beyond the EU, specific opportunities have been identified in US & Asia, where the number of preventable deaths resulting from prescription and medication errors is particularly high. For example, US hospitals report medical errors (which includes prescription errors) as the third leading cause of preventable death, as highlighted by the British Medical Journal, which Medicare will help alleviate significantly. The commercialisation of this technology will therefore have a wide socio-economic impact, leading to increased competitiveness of EU in eHealth, creation of additional revenue and jobs, and a significant social impact due to improvement of healthcare and medication management systems leading to improved communication, avoidance of (often fatal) errors, and superior patient care, thereby delivering real tangible benefits to the citizens and the economy.