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Seeking right combo, Predictmedix adds face biometrics to security stations

Seeking right combo, Predictmedix adds face biometrics to security stations
 

A life-sciences AI software maker says it has added facial recognition to its contactless, real-time patient ID verification system.

Executives with Predictmedix AI say the face biometrics have been integrated into the company’s Safe Entry stations. They are primarily targeting healthcare companies with the addition.

As the name implies, the stations are intended to identify patients and plug into record management software.

Despite an expensive generation of medical records digitalization, hospitals, in particular, still suffer through flawed documentation. And flawed documentation can lead to treatment mistakes that can have patient-health and financial consequences.

The top-level problem here is not selling the health care industry on facial recognition as a way of minimizing identification mistakes. It’s that announcements like Predictmedix’s are still pushing the idea of advanced records digitalization to begin with.

Maybe the thinking is that industry laggards are waiting for some minimum configuration of functions and capabilities, possibly including face biometrics.

Publicly held Predictmedix makes the case that its stations are that much better at ID verification for access control and monitoring processes.

Upon going public in 2019, a trying year for the health care industry, the company’s shares went almost vertical. What has followed, however, has been an almost unremitting slide into a gully that’s a fraction of share highs.

Predictmedix has consistently underperformed the electronic industry and the broader Canadian market. Its earnings growth rate over the last five years is -11 percent, according to stocks analyst service Simply Wall Street.

In that time, its industry rose 26 percent and the Canadian market grew 23 percent.

Over the 12 months, Predictmedix’s annual earnings growth is -44 percent. The industry grew 0.9 percent and the market dropped 8.4 percent.

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