Canadian IoT platform provider ThoughtWire has produced five new applications for building owners and healthcare providers to manage connected “people, systems and things”.
ThoughtWire has introduced two new applications as part of its ‘smart building suite’ for operations performance management (OPM), and three for its ‘hospital suite.’
Its new PrecisionHub application for building owners gives visibility into energy usage and fault detection, and enables automated adjustment of building controls.
The programme establishes a ‘digital twin’ of the building that unites data streams in a single control plane, with details about the building’s ‘health’ and workflows. Its new @WorkApp allows tenants to adjust controls through a mobile app.
Meanwhile, ThoughtWire has introduced EarlyWarning, one of three applications for hospitals, to help care teams predict and respond to patients and incidents. The app has been proven to reduce ‘code blues’, where patients require immediate resuscitation, by up to 90 per cent, said ThoughtWire.
Its SynchronizedOps application helps providers manage patient wait times by orchestrating patients movements from different areas of the hospital, and its RapidResponse ensures patient information is available to doctors and nurses more quickly.
ThoughtWire said one hospital, which has already deployed the SynchronizedOps application, has saved $2.7 million already, at a return of 900 per cent.
The company works with Hamilton Health Sciences, Humber River Hospital, Scarborough Hospital, Oxford Properties, Relay Health, Ontario Shores, among partners, hospitals, and corporate real estate firms. It said its specialist focus distinguishes it from horizontal IoT providers in the market.
“What really drives return-on-investment are use cases with clearly defined outcomes. We’ve seen a lot of organisations struggle because they buy in to the vision of an IoT platform and don’t realise most of the vendors in this space place the onus of getting value from the data to customer or an SI,” commented Michael Monteith, chief executive of ThoughtWire.
“These vendors lack domain expertise by virtue of their horizontal platform so it becomes difficult to create services that are designed to address the needs of the end users.”
ThoughtWire quoted statistics from IoT Analytics, from June, that the IoT platforms market will reach $22 billion in annual spending by 2023, and parallel research by consultancy 451 that 41 per cent of companies cite an unclear return as a barrier to adoption.
It said organisations continue to grapple with “complex workflows and siloed data,” as well as and analogue inflexibility and lack of intelligence in their processes, instead of digitising their systems.
Monteith said: “We take an entirely different approach in that our applications are designed to be people-centric, we are simultaneously optimising the real time information available and context so that the right people get the right information at the right time to drive toward specific outcomes with our five applications.
“Our architecture was purpose-built to support our focus on people and outcomes. Our apps are powered by the world’s fastest graph database brings together real-time performance with the most comprehensive data model of a built environment.”
The company said its applications are designed for building owners and healthcare providers in all markets. “What changes is how we would position the benefits of our initiatives to the right buyers depending on the type of health system, its structure and stakeholders,” said Monteith.
“The health system in Canada is very similar to that of the UK, much of Europe and globally as well. The US is a bit of an outlier for healthcare, which makes the motivating challenges slightly different to what we would see globally but the ultimate outcome is to optimise for a better patient experience in a hospital or tenant experience in a building.”
