Founded in October 2022, counting good recently launched an AI health app designed exclusively for the Apple Watch and is a new player in the rapidly growing wearable technology market.
According to an industry study, the wearable technology market is expected to reach over $64 billion by 2024, indicating strong demand and opportunities for innovation. As of December 2022, it was estimated that more than 115 million people used an Apple Watch. In 2021, 16% of all U.S. adults owned an Apple Watch, demonstrating the tremendous reach of Tallwell’s eligible market segment. With the Apple Watch holding over 57% of the global smart wearable device market, Tallywell has chosen a data accessibility channel known for its security and protection of its user base.
How does Tallywell work?
Well, it is simple and easy to use as the company securely collects data from Apple Watch Health Kit, measures and translates health data into wearable health data. Additionally, users receive a complete overview “Know your numbers” report each week, which provides deeper insights into their main score. Additionally, they note individual attributes such as BMI, number of hours slept, number of steps taken daily and resting heart rate. The notation of these attributes and their temporal dynamics are also available on the KYN website. The report offers practical advice to help users achieve their personal goals. “Know your numbers” is a valuable tool for understanding weekly shifts, while helping users make informed decisions and adjust habits to achieve their wellness goals.
The tallywell innovation uses an easy-to-understand health risk score modeled after FICO and driven by ML predictive models. FICO stands for Fair Isaac Corporation. FICO was a pioneer in developing a method for calculating credit scores based on information collected by credit reporting agencies. The company’s Predictive Health Score uses ML models and draws on significant published medical and clinical data, and creates custom technology for hardware and software. . As a company, they prioritize the security of personally identifiable information (PII) and emphasize the importance of using data holistically to improve human health. Access to data is secure, with a commitment not to monetize personal data, ensuring the focus remains on improving general well-being.
In speaking with three of Tallywell’s founders last week, Candace Paik, Aaron Holloway, and Dr. Luigi Vacca, about why they started Tallywell, it was so evident that their passion for helping Apple Watch users manage and improve their health was simply contagious. They all understood that we are facing a global health crisis as well as a mental health crisis in North America.
To put things in context, health care in the United States has seen a marked decline over the past 20 years. In 1999, one in three adults had a healthy adiposity level, meaning they were at a healthy weight and were neither overweight nor obese. By 2018, that figure had fallen to just one in four Americans. In 2019-2020, 20.78% of adults also suffered from a mental illness. That equates to more than 50 million Americans. According to the World Health Organization, approximately 450 million people currently suffer from mental illness, making it the leading cause of disability worldwide. Here at home, where I come from, it affects more than 6.7 million of us. In fact, one in two Canadians suffers or has suffered from a mental illness before the age of 40.
Given the scale of health-related challenges, there are also some glimmers of hope: increasingly health-conscious consumers are a large and growing segment of Tallywell’s target market. Fortunately, businesses have begun to accelerate their involvement in personal health issues, and as more health advocates become involved in health and recruit others, we may begin to see a gradual change in these alarming statistics.
Health-conscious people closely monitor health indicators and want data-driven insights to optimize their well-being. Tallywell customers receive personalized recommendations to improve or maintain their health and well-being. tallywell’s personalized reports and scores are based on a user’s unique health data to provide actionable next steps for better health and all delivered in the same comfortable-to-wear experience.
Although Tallywell will ultimately cater to a wide range of demographics, its initial target customer base is people aged 25 to 60 with sufficient disposable income to invest in managing and optimizing their health. This group tends to be highly engaged in mobile apps and wearable technology, providing an ideal audience for our product.
Although Tallywell has strong competition on other health scoring apps from players such as: Round, Oura Redness Score, Shout And FitBit Daily Readiness Scorethey were smart enough to differentiate themselves with their “Know your numbers” report, and it is a proprietary machine learning technology, analogous to credit scoring technology. It is also a free app at the moment.
Research sources
To read more of Dr. Gordon’s articles on health and happiness, see:
#Happiness matters
Dr. Cindy Gordon’s articles on employee happiness can be found here: