EyeLock LLC, a leader of iris based identity authentication solutions, announced today that it has identified the trillion-dollar healthcare industry as a market where this completely touchless and highly secure biometric can have positive impact throughout the medical and healthcare communities.
The Company continues to make advancements with its embedded technology, delivering solutions that address growing pain points for increased security in the financial services, gaming, personal safety, transportation and automotive industries. The healthcare field is a natural extension and offers potential for significant growth because of the unique characteristics of iris authentication, and the increasing need for touchless high security offerings.
The global healthcare biometric market is expected to reach USD $14.5 billion by 2025, according to a new report by Grand View Research, Inc.The migration of health system and hospitals to Electronic Health Records (EHR) and computerized physician order entry is expected to propel the demand for healthcare biometrics over the forecast period.
As more Healthcare Information Exchanges (HIE) are built across the network to coordinate care, the demand for technologies to combat data corruption and unauthorized access is expected to increase, thereby contributing to the market growth of healthcare biometrics during the forecast period.
In an industry committed to a patient's health, safety and security, biometrics continues to become more commonplace throughout more facets of the healthcare industry, including hospitals, medical groups, physician offices and pharmacies. Fingerprint, facial, voice recognition and iris provide multi- form factor solutions, each of which, provides more security than traditional passwords, card keys or locks. In particular, iris, through a touchless solution, also provides a superior false acceptance rate over both fingerprint and facial recognition and is highly desirable throughout all healthcare-related environments. For example, doctors and nurses may maintain the peak of hygiene and efficiency as well as the highest level of security, while keeping gloves, eye shields, glasses and facemasks in place.
EyeLock views iris authentication technology as a complete healthcare solution for hospitals. From only authorized personnel entering the hospital through a secured door, to allow access to nurse's stations and narcotics cabinets and other EyeLock enabled equipment and access points, such as operating and recovery rooms, EyeLock delivers value, convenience and security.
Jeff Carter, CEO of EyeLock shares, "EyeLock provides a solution that has distinct advantages over other commonly used biometrics. Our focus is to educate healthcare professionals, hospital administrators, and hospital equipment manufacturers as to these very important advantages. Then deliver a solution where the standoff distance, unmatched security with an over 1-in-2.25 trillion false acceptance rate for both eyes and completely touchless interface, create value for these enterprises and the patients they serve. Further, our solutions provide meaningful benefits for inventory and access control of high-value areas such as pharmacy, supplies and patient records."
Utilizing EyeLock's iris recognition technology to identify personnel before granting access to controlled substances at EMS stations improves security as well as accountability and operational efficiencies. Additionally, EyeLock sees its technology as the core of a hospital's patient identification process, becoming a key component of the standard for positively IDing patients for drug administration, insurance, surgical procedures and for those who are unable to produce an identification.
According to Findbiometrics.com, "New regulations like the Health Insurance Portability and Accountability Act (HIPAA) are helping to drive the healthcare market, as well as the general trend of increasing digitization of sensitive data, and the need to accurately identify patients."
Carter further states that, "Although other types of biometrics provide an acceptable level of security for certain low risk applications, iris authentication is the gold standard when protecting data, people or critical resources is paramount."
EyeLock is currently working with one of the leading provincial health authorities in Canada, responsible for planning and delivering health support and services to millions through the areas it serves. The Company is also in discussions with other healthcare organizations, medical providers and technology solutions providers and integrators, leveraging its investments in R&D as it expands into new markets.
