8 Healthtech Startups Rock the Show at IBM SmartCamp 2016 for Healthtech
IBM SmartCamp 2016, India’s biggest industry-focused startup challenge came with its healthtech edition. The earlier Fintech edition held in Mumbai was well appreciated by the community. It is organised by IBMs Global Entrepreneur Program . IBM GEP. In this Techxpla webinar, the program is discussed in detail by IBM GEP country lead Radhesh Kanumury http://bit.ly/2fz6oz8
This was held in Hyderabad on October 21, 2016. This was organised in association with Thub and Manipal Hospital. The final had eight of the best startups in India focusing on healthtech. They represent the best of technology innovation happening in India. This year’s IBM Global Entrepreneur 2016 program focuses on four sectors – Fintech, Healthtech, Smart City and Deep Tech.
More information about IBM Smartcamp 2016 can be found in this video . Where IBM India MD Vanitha Narayanan, Country lead, IBM GEP, Radhesh Kanumury and Seema Kumar Country Leader Developer Ecosystem and Startups at IBM.
Brief about the finalist organisation is below :
Oxyent Technologies : http://www.oxyent-medical.com/
“Oxyent’s mission is to build a advanced Child Health Care Solution.
“Oxyent’s child healthcare solution is Indias 1st hospital linked application and a one stop workflow solution for Neonatal Intensive Care Unit (NICU) & Pediatrics Department to assimilate and disseminate child information, starting from birth up to 12 years of age.
The solution is designed in such a manner that it leverages the IoT, Cloud and Big Data technology, enhancing the doctor-parent engagement model by enabling continuous and personalized child health monitoring.
Oxyent’s goal is to reduce the human error parameter and to provide a predictive model so that timely interventions can be done to save the lives of millions of children. Also they will provide a cloud based solution which can be accessed anywhere.
The complete life cycle is linked into the system, right from his stay in NICU to his discharge and vaccination till the age of 12 years. They have mobile applications ( Android/IOS) which provides a channel for the parents to be directly involved as a part of the their childs healthcare plan ( Growth/Vaccinations/Prescriptions). The application also removes the dependency on current paper based system and provides a means for data integrity. “
They follow a B2B business model where they are directly connect with hospitals. 80% of population access clinics for continuous monitoring of children post-delivery in hospital. They have distribution relationship with vaccination stockiest and child product companies for extensive reach into clinics. They have a profit sharing model with the Hospital, Clinics and distributor.
THB : https://www.thb.co.in/
There is a ton of healthcare data available around sitting in complete silos, not getting used to its potential. Neither are the providers who own that data benefit from it, and nor does the wider ecosystem (public health, pharma, insurance) get any insights. Moreover, a lot of good clinical data is not in analyzable formats. But all of this is fast changing.
THB is taking the lead to drive the change in structuring, analyzing and generating insights from the Indian healthcare datasets. The overall market opportunity – capturing healthcare providers as well as the wider ecosystem such as pharma and insurance companies – is a good $600mn+ opportunity in India itself.
THB’s platform structures data in a way that it becomes analyzable in a variety of ways, and for a broad range of stakeholders. They leverage this flexible database to deliver insights through there comprehensive analytical modules, including but not limited to business intelligence (for management teams), clinical analytics (for doctors), and personalized care (for patients). Within its platform, TBH also offer inbuilt flexible modules that help capture and structure new datasets (e.g. clinical, administrative) in a structure that can enrich analytical insights.
TBH license’s usage of its technology platform to its customers – hospitals, clinicians, diagnostic labs, pharma etc. through SAAS based pricing model.
Bodhi Health Education : https://www.facebook.com/Bodhihealthedu/ (Website was being updated)
Bodhi Health is trying to solve the problem of sourcing skilled workforce and developing talent for healthcare providers with the use of technology. The Indian health workforce today faces three critical issues of quality, scarcity and under utilization. Quality- As per World Health Organisation, 57% of the allopathic doctors in the urban areas do not have medical qualification. The same number is much worse in rural areas where only 20% having medical background. Scarcity – India produces 0.2 million nurses and paramedics annually whereas the demand will exceed 5 million by 2020. Underutilization – Around 50% of the existing medical workforce does not practice in the formal health system which highly impacts the health workforce density per 1000 population.
Bodhi provides talent sourcing and development platform for healthcare providers. For example, for Eye-Q India, Bodhis customer which is a chain of 50 eye care centers scaling up at the rate of 2 centers every month, perform 15,000 surgeries and see 400,000 OPD patients annually. They were facing issues like assessing and recruiting quality technicians, standardising their skill sets across all centers and linking learning outcomes to promotion. They are currently using Bodhi’s online platform for selection and up-skilling OT technicians across all centers. Its next customer, AII India Institute of Medical Sciences (AIIMS) – Delhi has a staff of 5000 nurses who cater to 8000 OPD patients daily. They are using Bodhi’s online education platform to roll out timely refresher courses for their 5000 nurses. Apart from this, NephroPlus, Columbia Asia chain of hospitals, SGT medical college, National Health Mission of Jammu & Kashmir as some of its customers
They sell the talent sourcing and assessment solution, Bodhi Nano programs & web & mobile learning system to private and public hospitals, medical & nursing colleges and the Govt. public health programs.
Pharmarack Technologies : http://www.pharmarack.com/
Pharmarack is developed to enable orders and business faster. It easily integrates with any billing of business software. The features of the product are customized to an extent that it ensures seamless transactions. Besides it gives peace of mind to its users at any level of hierarchy in the business due to its easy user interface and versatile plug in’s. It helps distributors to optimize resources, analyze business on the go and accordingly take informed decisions to Profitize. For retailers it helps to gain product knowledge, business offers and more importantly to avoid sales leakages due to unavailability of drug.
Pharmarack provides supply chain solution. It covers Order Management, Procurement, Returns, Collections & Market Insight. It Creates Network of all Pharma supply chain participants – Leveraging on Technology and network effect all of the above stated problems are addressed through application Overall Potential Market size as per them is $2 Billion .
DailyRounds : http://www.dailyrounds.org/
Doctors need to keep updated. Doctors need to keep learning. Case based learning (clinical cases) is the best way to go about doing that. The traditional methods for case discussions are CME conferences and medical journals, but the cost and time Doctors need to spend often prevent otherwise busy Doctors from taking full advantage of those mediums. DailyRounds solves these problems by a simple and intuitive mobile app. DailyRounds is a Facebook for Doctors but instead of holiday photos, baby pictures and selfies, Doctors share unique and rare cases they find in their clinical practice.
DailyRounds is an academic network of Doctors. Doctors across the globe share and discuss unique and rare cases on DailyRounds. Each case gets a verified correct diagnosis within 24 hours of submission. This case library and discussions help senior Doctors keep updated even after they have left the medical colleges. The DailyRounds library has replaced traditional medical journals, drug handbooks and pocket notes in many specialities.
UE LifeSciences Inc.: http://www.uelifesciences.com/
“Incidence rates of breast cancer, especially in women <age 50, have nearly doubled in LMIC over the past 20 years. Nearly 66% of these women, vast majority of which are urban and rural poor, are diagnosed late due to lack of awareness and access to affordable and clinically relevant screening; thus, women in LMIC have a 40%-60% survival rate compared to 90%+ for their USA/UK counterparts. Approximately 50% of women diagnosed each year are < 50 years of age, a sobering and alarming statistic. Each year 900k new cases and 350k deaths are reported in LMIC, the leading cause of cancer deaths in women.
Moreover, western gold standard for screening, i.e. film mammography, is unadaptable for LMIC. It is clinically limited in women < age 50 (dense breast), expensive, requires trained radiologists to interpret images, culturally unfriendly due to pain and radiation and inaccessible to BoP. While clinical breast exam (CBE) is affordable, it is subjective and limited clinically in detecting non-palpable lumps at early stages.
In India alone, there are 190 million age eligible women who should receive an annual screening test for breast cancer but aren’t receiving one for the reasons mentioned above: access, affordability and age eligible clinical technologies.
With production moving to India and enabled by Ues Device-As-A-Service model, iBE is offered to customers to use on a pay-per-impact basis. This allows for tiered pricing between PUBLIC (Government/NGO/CSR/Foundations) and PRIVATE (Diagnostic Centers/Home Health Providers/Private Practitioners/Corporate) health customers. As a result, public health agencies can buy large scan volumes for $1-2 per scan with no other device cost. In the private market, the test will be offered by UE partners for $10-12 vs. $30 – 50 for a mammogram. In addition, the device is available for purchase by select customers.
Medikabazaar : www.medikabazaar.biz
It offers the entire range of medical supplies in a marketplace model thus making the buying and selling easier. Traditionally organizations had to deal with large no of vendors for procurement leading to inefficiency and ineffectiveness. Medikabazaar provides one stop solution leading to better time and resource utilization and increasing output efficiency. In order to sustain higher growth and operational excellence, medical institution need to achieve higher efficiency for remarkable outcomes. Optimizing the cost and efficiency of medical procurement is of paramount importance so as to achieve better healthcare delivery model. Even the suppliers obtain benefits beyond all geographical constraints by reducing their manpower cost and promotional or marketing spends. The size of medical procurement industry is appx. USD 35-40 Bn in India which is expected to touch appx. USD 100 Bn in next 4-5 years. Organized medical procurement could even see a much better growth on expected nos.
It empowers medical institution deal with complex problem of Procurement & Purchases including logistics planning. They on PIN CODE based GIS system so that order delivery can happen in shortest possible time with engagement of local supplier wherever possible. They are also engaging credit rating agencies and looking forward to provide SME loan options for the smaller institutions linked with its portal to facilitate B2B trading. This will be a unique and first hand experience for medical institutions to avail such facility at the click of a button.
They are following an aggregator based marketplace model thus earning margin on every transaction. The payments are made through its portal only.
Cladoop INC : http://www.cladoop.com
12-15% of Children are effected by ADHD (NIMH Data). Out of this, approximately 40% of children are misdiagnosed to be ADHD and are treated with medications/therapies just like any other ADHD patient. 1 Billion dollars are spent in US alone to treat a ‘disorder’ which doesn’t exist in the first place.
The misdiagnosis is due to lack of ‘Objective Measurement’ for ADHD. The current tools are a bunch of questionnaire and the key judgement is with the Doctor who could be judgemental/biased etc.
Initial Market is the diagnostics/prognostic audience including Doctors in the Neuropsychology area – APP licensing at a per test basis. Phase 2: Later markets that open up are Special Schools which could have a per subject model . Phase 3: Conventional schools with a service based model
The Format of event :
The finale on October 21 can be divided into two sessions :
1. Morning Session : The eight startups pitched to panel of IBM executives, key influencers in healthcare domain and leading VCs of India. he jury panel included names like Sanjay Mehta, one of the top angel Investors in India; Arihant Patni, Founder, Ideaspring Capital and Hive India; Nandkishore Dhomne, Group CIO of Manipal Hospitals; Mukul Mathur, VP IBM, One Channel and CSI, IBM India and SA; Sateesh Andra, MD, Endiya Partners; Padmaja Ruparel, President, Indian Angel Network; Seemant Jauhari, CEO, Apollo Research & Innovations; Dr. Guru Reddy, Chairman, Continental Hospitals; Seema Kumar, Country Leader, Startups and Ecosystem, IBM India and SA; and Deepak Natrajan, MD, Aarin Capital.
2. Evening Session : The startups pitched to jury consisting of CIOs and other members of healthcare industry. Audience consisting of Startup enthusiasts of 175+ members attended the event.Guest of honor was BVR Mohan Reddy.
From the combination of the morning and evening scores winners were decided. The winner was Oxyent Medicald, first Runners up was UE LifeSciences Inc. and Second Runners up was Daily Rounds. However all eight finalist were indeed winners in the healthtech startup domain.
Smartcity is theme of next IBM Smartcamp to be held in Delhi. IBM GEP is accepting applications from B2B and B2C startups less than five years old doing innovation in the areas of Energy & Utility, Transportation, Sanitation, Water, Citizen Management, Safety and Surveillance. Agritech startups are also welcome. Apply at http://ibmgepindia.com/smartcity/ . Post this the Smartcamp will be held with theme of Deep Technology.
Note : This article written with inputs from IBM GEP team. All images are taken from social media.