NASSCOM CoE fostering Innovation and Thought Leadership on Technology for better home healthcare
Owing to lower doctor-to-patient ratios, poor healthcare infrastructure, spiralling costs and long-distance travel for patients, especially in the context of rural India, availing timely healthcare is a challenge today. But fret not. Having a hospital at your doorstep is now a reality, thanks to technology.
The home healthcare market is still in its nascent stages in India but can grow to more than $6.2bn by 2021 (1). Currently, the industry is serviced by a multitude of healthcare start-ups, healthcare aggregators, diagnostic centres, radiology centres and even some of the major hospitals. Advancements in information technology and medical electronics are bringing high quality healthcare at the door step and at affordable price.
According to CB Insights (2), the new healthcare clinic will be in the comfort of your home largely propagated by healthcare start-ups offering innovative state-of-the-art care kits. The report states that companies are launching kits for everything ranging from sequencing the microbiome and DNA testing for healthcare risks on one end of the spectrum, to low cost standard diagnostics on the other end.
Deep-Tech Start-ups at NASSCOM Centre of Excellence are providing innovative healthcare solutions
NASSCOM Center of Excellence has been working with some innovative start-ups that are directly addressing critical healthcare issues. These start-ups are working on some of the common challenges in the society such as; Diabetes, Blood Pressure, Cardio Vascular Diseases, Chronic Obstructive Pulmonary Diseases, Maternal Mortality, Infant Mortality, Cataract, Glaucoma, geriatric care etc. where the services are offered through clinically certified and highly mobile diagnostic devices. Besides diagnostics, these start-ups are also providing Personal Health-Records (PHR) to the individual customers on their mobile devices. Layered with AI assisted insights, the subjects (individuals) are driven towards preventive health and wellness. The innovations are also helping the doctors and hospitals in monitoring their patients from their own homes.
“Home Healthcare is still in its nascent stages but soon it is going to grow exponentially, mainly due to increased awareness campaigns and mobile penetration across the country. Players such as Nightingale and Portea are ahead of the others but haven’t yet dug deep. Rise in aging population is another reason the market is going to see the growth towards north. Interestingly, this market is going to have a ripple effect on micro-entrepreneurship and job creation. Evangelization of the need for wellness by the Government, is also catalysing the growth in this market. Health Insurance companies are also observing this market and may soon come out with new collaboration models to minimise their risk. But the Home Healthcare market needs regulatory guidance and standard delivery models.”
Raghuram Janapareddy, Director – Lifesciences & Healthcare, NASSCOM Center of Excellence
LHIF – Lifesciences & Healthcare Innovation Forum is a flagship program of NASSCOM CoE, providing a collaborative platform for catalysing the transformation of healthcare in India.
For more information, visit www.coe-iot.com