Raising the bar in fall detection technology.
Hunhu Healthcare, a medical device start-up, came to CES to help conceptualize their first product, a connected fall detection pendant. By participating in an Adrenaline™ Workshop, Hunhu was able to gain a better understanding of their user, the required technology infrastructure, and the business model that would help make their product a success.
“When we began this effort, we wanted to partner with an engineering and design firm that had a stellar reputation in the medical field and a passion for meeting the requirements of the consumer of the technology. After evaluating a handful of outstanding alternatives, CES was the clear winner. They had a focus on building a successful commercial product that put them a cut above the others. They have backed up their promises with rock solid delivery as well.”
– Michael Emerson, CEO of Hunhu Healthcare, Inc.
As people get older, they face a significant increase in the amount of money required to cover all of their healthcare costs, from doctor’s visits to co-pays and prescriptions. When emergency visits for sudden illness or accidents are included, the costs are astronomical, especially for the retired population. Hunhu Healthcare, a recent start-up, is on a mission to leverage the latest in technology to build preventive and safety home healthcare equipment to help reduce the rising costs of medical care.
With the recent growth of the Internet of Things (IoT), Hunhu saw an opportunity to take the idea for their first product, a fall detection pendant, and turn it into a connected solution to better monitor users at home. With a variety of fall detection equipment on the market today, their device had to be more than simply better than their competitors, it had to be easily recognizable as a superior product by consumers. To ensure this outcome it was important that Hunhu explore the business environment. The process began with a collaborative session to gain a better understanding of the user, technology, and business models associated with connected development.
The Adrenaline Workshop began by identifying target users for the product with the Value Proposition canvas. The team began by exploring current products and services on the market from fall prevention and detection to activity monitoring and education. By looking at analogous products, the team was able to identify what the benefits of each piece of equipment from design to usability.
With the focus of the discussion on the user, the team shifted to discussing pains and gains of a new product. Gains included providing peace of mind to family members and offering further insight into fall risk. Pains included user’s reluctance to wearing a pendant that makes them look like they require help or monitoring. To create a truly user focused product, the Hunhu pendant would need to have all of the functionality of a fall detection device with the look of a fashionable and sophisticated accessory.
The next action was identifying high level technology requirements. To provide a unique product to the market, the pendant would monitor fall detection activity, as well as behavior for fall prediction. This would require a microcontroller paired with an accelerometer to track sudden movements along multiple axes. When send accelerometer unexpectedly comes to a complete stop it indicates a possible fall. The pendant would then give the user a short amount of time to move again before sending an alert.
Finally, the team reviewed financial simulations to validate the direction of the product based on the day’s discussions. Throughout the workshop, key criteria were captured as inputs to a full financial modeling tool using a Monte Carlo simulation. The results estimate project value based on different adoption rates and volumes to show the customer when they can expect a return on their investment. This simulation also helps provide preliminary price points for the new product, break-even points, average revenue per user (ARPU), and key financial metrics, such as Internal Rate of Return or Net Present Value. Most importantly, the financial modeling identifies key risk areas for further exploration and validation through future Prototype and Pilot phases.
Hunhu left the workshop with the better understanding of the product market, the user, the technology, and business model requirements. Our team delivered a full report of the findings and recommendations based on the day’s discussions. Hunhu has elected to continue to work with CES to assess different user experience designs and construct prototypes.
Hunhu Healthcare is a start-up in the mHealth space that leverages the latest in mobile, social, big data to improve patient engagement and reduce the cost of care, especially those with long term illness or who have care responsibilities for those who do.
- Project Name Fall Detection Pendant
- Client HUNHU HEALTHCARE