WoW Woman in Health Tech I Candice Paik, CEO and co-founder of tallywell™
Candice Paik, CEO and Co-founder of tallywell™, spearheads the healthtech software company’s innovative three-digit, “credit score of health” app for the Apple Watch. The AI and ML-powered predictive health intelligence technology company empowers individuals, families, and employers to take control of their health journeys. Paik’s strategic vision, dedication to operational expertise, and leveraging of technology for healthcare advancement and democratization are quickly propelling tallywell to the forefront of the industry.
Before her previous entrepreneurial ventures, Paik worked at various publicly traded companies and smaller organizations to showcase her ability to drive meaningful outcomes for clients, leveraging a deep understanding of both technology and the diverse needs of customers and end-users.
A vocal advocate for diversity, equity, and inclusion in the global business arena, Paik, a Korean-American businesswoman, offers valuable insights on overcoming imposter syndrome and navigating cultural expectations. She encourages women from all walks of life to embrace their unique paths and assert themselves in their pursuits. She is a strong supporter of mental health and well-being initiatives.
Rooted in principles of collaboration, transparency, and empathy, Paik's leadership style fosters a culture of trust and innovation within tallywell. Her professional journey exemplifies the transformative potential of resilience, authenticity, and unwavering dedication to one's passions.
In the dynamic landscape of predictive health intelligence technology, tallywell™, powered by AI and ML, is a groundbreaking Apple Watch app offering a simple and convenient three-digit, credit-like health score. Developed by Dr. Luigi Vacca and Aaron Holloway, tallywell is a beacon in healthcare information access. Tallywell's 'Know Your Numbers™' weekly digital report provides actionable insights tailored to support individual, family, and employee well-being while providing information to address specific health concerns. The path to improved health begins with tallywell – a commitment to lifelong well-being.
Tell us a bit about your background and your projects so far.
Previously, I led initiatives at both startups and publicly traded companies. The versatility I developed in these roles showcases my ability to drive meaningful outcomes for clients. Today, as CEO of tallywell™, a predictive health intelligence wearables software company, I leverage a deep understanding of emerging technology and balance it with the diverse needs of customers and end-users.
Tallywell’s flagship app of the same name is referred to as the three-digit "credit score of health." Designed for the Apple Watch, tallywell is powered by Artificial Intelligence and Machine Learning. Our technology was underpinned by an extensive data analysis and research period conducted in 2022; the goal was to establish a pioneering health risk scoring system to set a new benchmark in biometric health tracking.
Dr. Vacca was inspired to create tallywell by the models he developed while modeling financial credit scoring technology. The app integrates data from a user’s Apple Health Kit, CDC, and the Census Bureau to develop a single convenient health monitoring score.
Tallywell also provides users with a weekly 'Know Your Numbers’ report feature that over time, learns and predicts a user's scores™ and sub-scores. ‘Know Your Numbers’ provides personalized suggestions to support the development of good habits for sleep, stress levels, blood pressure control, mental health, healthy eating, and weight management. The report can be customized to include resources that address specific health concerns, such as diabetes, cancer, and hypertension.
How did you get into this industry? Has it been an easy industry to get into or have you had many challenges?
I have always been drawn towards innovation and personal health and wellness, so the health tech wearables industry felt like a natural next step. This industry has its fair share of challenges and navigating them requires continuous learning on my part. The first factor in my decision to take the helm at tallywell was the company’s innovative approach towards preventative health intelligence technology, particularly in the context of the vast hardware growth in the wearables sector and the evolving potential of AI and ML.
Tallywell’s mission was also a large factor because our core business challenge extends beyond the technological landscape; it involves reshaping consumer mindsets so that they can live happier and healthier lives. We recently made the app completely free for all users because another tenet of our company’s mission is to increase health literacy and democratize healthcare access.
I have learned a lot in thinking about how we as a company can balance the fast-paced, emerging technology industry with our central goal of helping individuals and families develop proactive habits that result in enduring benefits. We are not just creating a product—it’s centered around a paradigm shift and asking people to think differently about the health monitoring process. We are creating a whole new narrative, and it is an ever-evolving process.
As a woman in this space, there's an additional layer to the challenges—such as confronting imposter syndrome—that can often accompany female executives breaking into tech fields. However, I have a very diverse and supportive team at tallywell, and every obstacle encountered has offered invaluable insights and opportunities for personal and professional growth.
How long did it take you to be where you are now?
About a decade. Every chapter in my life has been a stepping stone, and the path is continuous.
What was the biggest obstacle?
Previously, I launched and ran my first company, lived through the ups and downs entrepreneurs often experience, and I came out stronger. I’ve carried the invaluable lessons learned during this period into my current role.
What are the challenges of being in the industry you are in?
Well, hardware growth is significant, but there is still much untapped potential for AI and ML. As a company, we are forging a new category and illustrating what predictive health intelligence might look like in the future. This process involves addressing not only technological advancements but also the acceptance and understanding of these innovations by the public and industry at large. It can be challenging for a few reasons. The first involves health literacy rates in the United States, according to the National Assessment of Adult Literacy Survey even basic healthcare literacy is very low at 36%, we are committed to shifting this and want to see more people gain access to their personalized health information through educational resources that are easily understood. As I mentioned, we made tallywell’s app free for all users; the convenient three-digit score is in an easily understood format we hope will become universally accepted. The second challenge for wearable technology companies can involve gaining industry trust and adoption because physicians and medical organizations may be slow to adopt new technology.
What are your biggest achievements to date? A significant achievement has been the launch of tallywell.
Our initial venture involved six months of incubation. We conducted extensive research in 2022 and hammered out offerings that highlight the potential benefits. The emphasis was on center tallywell around simplicity and user-friendliness, making the app accessible to all without compromising privacy.
Tallywell is on the cusp of rolling out special employer wellness programs to help companies assess their overall without using an employee’s personal information.
We are also partnering with the Boston University Police Department and the Beverly Hills Police Department to help support law enforcement health and wellness for officers and their families.
Is the #WomenInTech movement important to you and if yes, why?
The #WomenInTech movement holds immense importance and I love seeing the diversity and focus areas within the larger groups. For example, your organization (WoW) addresses issues specific to the Wearables industry such as diversity and pay equality and provides a platform for women's voices in an industry traditionally dominated by men. Networking and community building are crucial aspects and seeing women supporting women is inspiring. For me, it’s about breaking barriers and ensuring equal opportunities for everyone.
What will be the key trends in your industry in the next five years and where do you see them heading? The wearables industry is poised for significant advancements. The convergence of wearables and predictive health intelligence technology will undoubtedly continue to drive innovations that help people live happier and healthier lives. As we push the boundaries of what AI can achieve, tallywell’s focus will be to provide universal health risk scores and tools for understanding and analyzing one’s health so they can make informed decisions and goals.
According to Dr. Vacca, AI has not yet significantly disrupted the healthcare industry in a way he feels is relevant to have a true seismic shift in healthcare for people. He believes gaining access to non-personal health data without PII (generally restricted by HIPAA) would better inform the work scientists do with AI and Machine Learning. This access would create even more robust frameworks to address specific health issues while helping to prevent or manage them. Scientists still face the limitations of hospital and university databases because much of this data is from critically ill people. A crucial void persists which is the absence of data from individuals leading healthy lives, so it can be difficult to understand broader health patterns.
What is the most important piece of advice you could give to anyone who wants to start a career in this industry?
Persistence is key. In an industry that often glamorizes entrepreneurship, it's crucial to understand that great things take time. Having the tenacity to show up every day and push through challenges is what sets successful individuals apart. Embrace your journey, learn from setbacks, and keep moving forward.
Who are three inspirational women in your respective industry that you admire?
Kara Swisher
Ada Lovelace
Jessica Grossmeier
Find out more about tallywell™ on their website.
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This interview was conducted by Marija Butkovic, Digital Marketing and PR strategist, founder, and CEO of Women of Wearables. She regularly writes and speaks on topics of wearable tech, fashion tech, IoT, entrepreneurship, and diversity. Follow Marija on Twitter @MarijaButkovic and read her stories for Forbes here.