When we last talked to Kyle Samani, he explained a path to cutting medical costs by two-thirds through the use of telemedicine and drones.
Today we continue our conversation with the CEO of Pristine as he expounds more on telemedicine. His company has developed two apps so far for Google (NASDAQ:GOOGL) Glass that take advantage of the power of hands-free communication in medical settings.
As Kyle explains in this video, Google Glass is one form of telemedicine, but there are many more.
A full transcript follows the video.
Google may have trouble keeping up with THIS stock in 2014...
There’s a huge difference between a good stock and a stock that can make you rich. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it’s one of those stocks that could make you rich. You can find out which stock it is in the special free report "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.
Max Macaluso: I think a lot of our viewers have heard of telemedicine, but may not exactly understand what it is. Could you just define it for us?
Kyle Samani: Telemedicine is a very broad, over-used term. Broadly, what it means is, you can think of it as you are somehow receiving medical care in some fashion, and there is not a physical provider there. The provider, be it a nurse, doctor, nurse practitioner, physician's assistant, or whatever, is not physically there with you.
That manifests in a lot of different forms. By far the most common today, and the most talked-about is the American Well/Teladoc/Ring-A-Doc model, which is you go to your computer and you're like, "I want a doctor!" and you have a Skype-like conversation with them. That's pretty intuitive.
But there are also a lot of other forms. You could call us (working with Google Glass) a form of telemedicine. We are a very different form of telemedicine.
There are E-ICUs now, where you have doctors in remote locations monitoring ICUs. You have what's called remote monitoring, which is for patients who are at home. They don't need a doctor there all the time, but they're hooked up to all this stuff -- all their glucose readings and blood readings, and whatever other measurements are being taken; temperature readings -- and then beaming those back off to a more centralized location. That's definitely a form of telemedicine.
It's a very broad term. It's like saying "cloud." OK, well, that means so many things to so many people. There's private clouds and public clouds ... there's a lot of forms. But in the most simplistic terms, the doctor's not there, and you are somehow receiving care, depending on the exact context necessary.
Max Macaluso, Ph.D. has no position in any stocks mentioned. Rex Moore owns shares of Google. The Motley Fool recommends Google. The Motley Fool owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.