Findaa Technology – Healthcare Asset Tracking Solutions

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“We were pleased to be introduced to Findaa through our colleagues at the Connected Places Catapult, who have been leading the SME accelerator programme for the MK:5G project. Findaa creates healthcare asset tracking solutions to create a more efficient and cost-effective healthcare system. Utilising 5G technology, Findaa monitors on-the-go equipment in real-time. Founders Simon Rowell and Leo Meng presented Findaa’s technology at the Bowel Cancer MK:5G Health Showcase Event on 24th March 2021, demonstrating its applications in a hospital setting. Findaa plans to use the Healthy Living Lab to obtain more data for Artificial Intelligence training to enhance their service”

John Vesey, Health Business Manager

Frontline medical staff such as nurses and doctors can spend over 10% of their shift time trying to find medical equipment. One of the biggest global asset owners is the healthcare sector, which wastes over £7.5 billion in the UK alone on overordering, losing, and theft of medical items. This significant amount of time and money could impact patient care. Hospital equipment is currently tracked by outdated barcodes meaning once location and condition are logged the data becomes historical and therefore useless because the equipment is moved right after a record is made. Findaa addresses these issues, making healthcare more efficient and more cost-effective, by making health assets smart.

Findaa technology provides a truly automated and real-time asset tracking and monitoring system. It can track from indoor to outdoor seamlessly and monitor an asset’s condition such as temperature, vibration, and humidity. Artificial Intelligence (AI) technology enables better and affordable indoor tracking, risk management, and efficiency management. 

The Findaa Asset Management Platform shows the location, condition, availability, risk and efficiency of the assets, from indoor to outdoor, in real-time. For example, by mapping the hospital, healthcare professionals can use the platform to locate dialysis equipment ready for use immediately, as opposed to spending time searching wards. This significantly increases the efficiency of the system and the quality of care provided. The tags also have a geofencing alarm to help with the security of the devices.

Though most companies and organisations use Radio Frequency Identification (RFID) to track and monitor their assets, it has been proven that this does not work efficiently due to manual-based operation and historical data. By applying 5G as a backhaul of the system, our single interface also benefits from low latency, with a shorter response time in our network. 

This can be applied in a hospital setting such as Milton Keynes Hospital. We will attach some tags on movable medical equipment and monitor the location and availability in real-time. Also, our platform provides risk efficiency reports to users. The reports are very valuable to hospital asset managers to increase efficiency and reduce wastage. The technology also benefits frontline nurses and doctors, maintenance and medical device teams, alongside medical device manufacturers, and remote patient care providers. We currently use a mixture of LoRa, Bluetooth 5, NBIOT, and 2G to connect and we will be looking to incorporate the 5G network when it is more widely available.

We are planning to have a trial with the Healthy Living Lab at Wescott to get more real-life data for our AI training. Understanding the customer’s requirement is always the key to building and selling a good product. Learning from Living Lab methodology and understanding how your client’s work, can be an efficient way to grow a business.

Thanks to the MK:5G events, we have since been asked to quote for a pilot with Corporate Health who were also speaking at the 5G enabled solutions for Endoscopies. In addition, we have also been receiving requests from other remote patient care providers to use our platform.

Simon Rowel and Leo Meng, Founders, Findaa Technology

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