LAWRENCE, MA / ACCESSWIRE / October 18, 2017 / As a part of the global market expected to reach a value of $1.5 billion by 2020, augmented reality (AR) represents a wide array of implications that will transform the healthcare sector. Assistance during complex surgical operations, checking visual symptoms against a medical database, supporting aftercare, efficient administration and improved health care education are all but a scratch on the surface of opportunities offered by AR. Frank Magliochetti, managing partner of Parcae Capital Corporation, discusses the application of this advanced technology in medicine.
Put simply, AR is the live view of a real-world environment enhanced with sounds, visuals or other sensory input. In contrast to virtual reality, which completely replaces the real world with a replicated one, AR replaces certain elements and delivers them into eyesight as fast as possible. Google Glass - an optical head-mounted display that presents information in a hands-free format - is a prominent example of AR technology. AR medical applications (apps) can simulate what it feels like to have certain conditions or help patients visualize their medical conditions. AR smartphone apps can assist patients with hearing issues to transform auditory information into readable text or highlight wheelchair friendly routes for a disabled person. Medical students and experienced surgeons alike can utilize AR to practice their skills and go through a complex surgery on a 3D rendering of the patient, before commencing the actual procedure.
As pointed out by Frank Magliochetti, AR is already being applied in healthcare. In 2014, Small World - an innovative technology company – together with Australian Breastfeeding Association, conducted a trial that allowed telephone counselors to see through the eyes of a breastfeeding mother via Google Glass, and assist them in real time. EyeDecide, a medical app developed by OrcaMD, uses a camera to simulate the impact of various eye conditions - cataracts, age-related macular degeneration, glaucoma, retinal detachment, etc. - on a person's vision. An AR software developed by Medsights Tech, replicates both volumetrically and geometrically accurate 3D renderings of tumors, empowering surgeons with x-ray views of the patient. U.S. based company AccuVein developed a handheld scanner that utilizes AR to project a map of a person's veins over the skin, which increases the likelihood of finding a vein on the first stick by 350% when performing intravenous injections. Leveraging advanced technology allows to step back from the traditional per-service reimbursement of medical costs and focus on delivering quality patient care, therefore, encouraging further and more frequent deployment of AR in medical settings.
An expert of financial, pharmaceutical and medical industries, Frank Magliochetti obtained his master's degree in Pharmacology from the Northeastern University and received an MBA from The Sawyer School of Business at Suffolk University. Throughout his career, Magliochetti has held senior positions at Kontron Medical Instruments, Haemonetics Corporation, Chartwell Diversified Services and Sandoz. Currently, he is the managing partner of Parcae Capital, a company that assists healthcare, media and alternative energy firms with financial restructuring and interim management.
Frank Magliochetti - Founder and Managing Partner of Parcae Capital: http://frankmagliochettinews.com
Frank Magliochetti - Parcae Capital Corporation: http://parcaecapitalcorp.com/frank-magliochetti/
Frank Magliochetti - On the Personal Health Care Spending Trends in the US: https://finance.yahoo.com/news/frank-magliochetti-personal-health-care-165700703.html
SOURCE: Frank Magliochetti