5 minute read
Panel Discussion 2 : Making Indian Healthcare Resilient: Health Startups & Innovations
Mr. Amit Mookim
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Managing Director IQVIA South Asia Mr. Vivek Srivastava Dr. Ramjee Pallela
Co-founder & CEO HealthCare at Home
Chief Operating Officer AIC-CCMB Mr. Rahul Paith
Founder Marteck Solutions
https://www.iqvia.com/ https://hcah.in/ https://aic.ccmb.res.in/ https://martecksoluti ons.wordpress.com/
Futures Thinking in Indian Healthcare
Making Indian Healthcare Resilient: Health Start-ups & Innovations was the topic of the second panel discussion. The panel discussion focused on the level of imagination required to make our healthcare system more robust. Pandemic has been a start-up accelerator, so the insights and the fascinating viewpoints of the esteemed panellists can be used to create a road map for the future transformation of healthcare services. The conversations focused on how, as we all know, healthcare is undergoing a rapid transformation, with revolutionary changes in the care paradigm. The demand and supply established by Covid have proven to be a fruitful ground for start-ups.
Prof. Ajit Parulekar, Director, GIMprovided a snapshot of the gaps that exist in the healthcare system. In order to achieve optimum provision of care to general population, an increase in government spending alone may not be enough, technology will be a possible answer for reaching out to the patients who need help. Owing to the fact that India's healthcare system is fragile, and patients cannot afford out of pocket expenditure most of the times, costly healthcare treatments alone will not help. To reach the last mile, the cost of treatment must be minimised. Prof. Parulekar also mentioned that technology can help bridge the gap that exists in healthcare due to information asymmetry, enable patients to receive care at their homes and fill any gaps that develop due to lack of doctors, bed pricing optimization, etc. Dr Ramjee Pallela, Chief Operating Officer, Atal Incubation Centre - CCMB discussed the implications of healthcare gaps for India's start-up ecosystem. He stated that the government supports start-ups in all sections of India. During the pandemic, Indian hospitals were struggling to keep up with demand. The start-up companies realised that this was their opportunity to excel and began developing goods or services for COVID-19 mitigation, leaving their mainstream projects. Mr Rahul Paith, Founder, MarTeck Solutions discussed how his organisation provided remote solutions and how lockdown influenced their work. MarTech, is a three-year-old start-up that provides AIbased solutions. It started with telemedicine first and now provide teleradiology services. Persistence helped them stay afloat in the pandemic situation. This start-up believed that determined, consistent, and focussed efforts would help them achieve their goals. A spike was noted due to COVID-19, as there was a demand for their products as digital solutions and remote care is a solution.
Mr Amit Mookim, Managing Director, IQVIA, South Asia explained what IQVIA does and how it assists enterprises and start-ups in growing with the help of connected intelligence. He discussed the role of healthcare start-ups in the next 5-10 years. He feels that situation in the healthcare system is a patchwork and there is still a lot of inconsistency. A fragmented system is evident along with pricing disparities. Thus, there is a huge potential for spending and supply in the healthcare industry. Entrepreneurs will have a critical role to play. Innovation will come from outside and the entrepreneurs will bring this innovation and connect the supply chains. Last year, 42 million dollars were invested in healthcare start-ups. There are over 8000 digital start-ups in India, and the country has the potential to become a global centre for these businesses. Not only on the demand side but also the supply side, there is an explosion. Along with corporates entering this market, start-ups might be pioneers in the digital realm. Mr Vivek Srivastava, Chief Executive Officer, Healthcare at Home, spoke about his company that provides home-based healthcare services. During Covid, demand for their services accelerated as people were cooped up at home, with 85 % of patients indicating that they did not desire face-to-face care. As a result, the company was able to satisfy expanding demand and suit the needs of the public. Still, there is a significant gap in the supply chain, with minimal automation between distribution and the customer. Teleconsultation, clinic digitalization, and patient management platforms are just a few of the options that can be used to suit the needs. Population at large have now accepted home care and remote services as these technologies are beneficial to their well-being. The health-tech start-up space in India is witnessing exponential growth, especially for the past two years now due to the Covid-19 pandemic. Remote base solutions are helpful, and they are the way of the future. Affordability and accessibility of healthcare could be increased along with home-based delivery. Adversity in pandemics has brought teams in the company together. As growth occurs in traditional areas that were previously untapped, there is still a significant opportunity. All you have to do is contribute as a good citizen to the nation to make an effect to leverage these opportunities. Start-ups can play a key role to socialise and democratising the availability of healthcare across the globe especially at a time when the world is grappling with pandemics. As the panellists advised, students should scout for new technology and start-ups. The healthcare sector not only provides financial rewards but also adds value to people's lives. The life-changing things one can accomplish by working in this field are incredible and one should look for a problem that one can solve. Dr Rahul Paith said, “It's all about sales; if you're good at it, you can rule the world. ” Thus, to sustain in any industry a sale ’ s experience would be beneficial. Citizens should do things to prevent disease then looking at the cure. Healthcare access should be extended to the next level of society, to the next stratum making it equitable and accessible for all. Entrepreneurs should concentrate on bolstering the Make in India programme, innovating in India and making an impact in the health-tech field.
- Rapporteur Sejal Nikam (HCM-21-23)
