Apple Watch EKG
This episode of TechTalk, we cover a unique, FDA-approved EKG device for the Apple Watch. We’ll discuss the science and the business behind this promising new technology, as well as how the market for smart watches is doing.
Dave Plaskow: Hello and welcome to EisnerAmper’s technology podcast series. With more than 500 technology clients, we’re always interested in the latest industry trends and developments, as well as any related business and accounting opportunities and challenges. I’m your host Dave Plaskow and with us today is Dave Katz, Senior Manager in EisnerAmper’s Technology and Life Sciences Practice. It’s another episode of TechTalk. Today’s episode is on the first FDA approved EKG band for the Apple Watch. Dave, welcome.
Dave Katz: Thanks. Great to kick off the new year with a new podcast here.
DP: So tell us about the new Apple Watch accessory.
DK: Sure. So it’s an FDA approved EKG device from a company called AliveCor called Kardia Band.
DP:Ok. And what does it do?
DK: So people can check their heart rhythms and provide information to doctors to see, for example, if the person has issues such as a heart arrhythmia.
DP:Ok. Well, as someone who recently had one of those I think that’s a great idea. How does the device work?
DK: So you use an app, you use a cardio app on your smart phone, put your fingers on the electrodes and see the results, and it’s using artificial intelligence to pinpoint EKG readings for users indicating if a reading is within some acceptable range, and if the reading falls outside that acceptable range, it advises you to get further testing or treatment. With Kardia Band you can also verbally tell it your symptoms and it can send email information to your physician.
DP: Pretty cool, and I think that’s a term that we’re going to hear a lot this year – artificial intelligence. So what’s the availability of this product?
DK: Sure, so you can purchase directly from AliveCor or from places like Amazon – obviously, what don’t they sell. It retails for about $200 but if you want all the features and analysis you’ll need a monthly subscription which works out to about $10 a month.
DP: So Dave, how is the smart watch doing these days, ‘cause you don’t really hear much about them anymore?
DK: Yeah, it’s not getting the headlines of, say the iPhone X, but some reports have the smartphone watch market hitting $33 billion by 2020 – certainly nothing to sneeze at.
DP:So tell us, where does EisnerAmper fit in with medical device manufacturers and what does this marriage of AI and medical device technology mean for business advisory services?
DK: So our technology group can help in a variety of areas, from dealing with the growth of the business, valuation complexities, or just the overall business advisory as our services can grow with the needs of each company being that this is somewhat new. And certainly with devices connected to the internet, cybersecurity is always an issue. Our cybersecurity experts can certainly help there, and, you know, while we as accountants, are using medical devices in our everyday world, EisnerAmper is continuing to look at robotics and artificial intelligence to make our jobs more effective and efficient.
DP:Great. Duly noted. Well thanks Dave for your expertise and this great insight.
DK: Thanks Dave.
DP:And thank you for listening to TechTalk as part of the EisnerAmper podcast series. Visit EisnerAmper.com for more information on this and a host of other topics, and join us for our next EisnerAmper podcast when we get down to business.