NEW YORK, April 4, 2018 /PRNewswire/ -- 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.
EyeLock LLC is an acknowledged leader in advanced iris authentication for the Internet of Things (IoT), providing the highest level of security with EyeLock ID™ technology. Iris authentication is highly secure because no two irises are alike and the iris is the most accurate human identifier other than DNA. The company's significant IP portfolio, including more than 75 patents and patents pending, and proprietary technology enables the convenient and secure authentication of individuals across physical and logical environments. EyeLock's solutions have been integrated and embedded across consumer and enterprise products and platforms, eliminating the need for PINs and passwords. Corporations across the Fortune 500 recognize the level of security EyeLock provides due in part to its extremely high false acceptance rate, ease of use, and scalability. As a sponsor member of the Fast IDentity Online Alliance (FIDO), a non-profit organization dedicated to creating a safer and more secure digital presence for consumers, EyeLock is dedicated to advancing digital privacy and next generation security.
About VOXX International Corporation:
VOXX International Corporation (NASDAQ: VOXX) has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, as well as premium high-end audio. Today, VOXX International Corporation has an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world's leading automotive manufacturers. The Company has an international footprint in Europe, Asia, Mexico, South America, and a growing portfolio, which now comprises over 30 trusted brands. Among the key domestic brands are Klipsch®, RCA®, Invision®, Jensen®, Rosen Electronics, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, 808®, and Prestige®. International brands include Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and Incaar™. For additional information, please visit our Web site at www.voxxintl.com.
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SOURCE EyeLock LLC