If you’re a part of the Digital Health universe and based in India, there’s only one place you should be during 6-8 April.MEDICAL FAIR INDIA, taking place in New Delhi, invites you to explore the FTR4H Lab & Lounge at MEDICAL FAIR INDIA 2017, Pragati Maidan, New Delhi.
14:05 – 14:20 Digital Health – a global snapshot / Tjaša Zajc, FTR4H Global Audience Developer
14:20 – 14:40 Infrastructure Services for healthcare customers/ Mr Ashish Kothari, Associate Director – Infrastucture Services, IBM Global Technology Services – Cloud
14:40 – 15:00 Digital health Solutions alongside the healthcare continuum / Satish Choudhury, eSec Forte
15:00 – 15:10 DOC n Me / Samidha Garud
15:10 – 15:20 Track My Beat
15:20 – 15:40 Tech Mahindra
15:40 – 16:00 FTR4H Fireside Chat
FTR4H (Future For Health) is an international platform, which enables discussions, meetings, dialogs and networking among thousands of Digital Health start-ups, corporations and investors, including accelerators and media from around the world. We explore how Digital Transformation effects the healthcare industry: Mobile – Feature Phones, Smartphones, Phablets, Tablets, Wearables, VR Headsets, IOT – Internet of Things – Sensors, Drones, Robots, 3D-Printer, Smart Things like Cars and Homes, Data – Smart Data, Self Data, Genomics Data, Safe Data.Future for Health acts as a think tank and definer to connect all global Digital Health Ecosystems in markets like China, Europe, India, Israel and the US with MEDICA – a hashtag to categorize what drives Digital Health: #FTR4H
Wearables and measurements. Which Point of Care devices are just gadgets and which ones bring actual better outcomes for patients? Here’s what’s wrong with wearables.
1. Questionable data gathering
When used for prevention, it has become clear by now, that a person gets tired of using a wearable or a health app in only a few months. It is important to note that this holds true mostly for relatively healthy people, not patients with serious illnesses.
2. We are measuring what we can, not what we should
British researcher Prof. Dr. Anthony Turner, Head of The Biosensors and Bioelectronics Centre at Linköping University Sweden: “we haven’t yet made the sensors we really need, we are using the sensors that we happen to have.” That is why in recent years investors have been more interested in other sensors: ingestibles, implantables, etc..
We are entering an era of sensors for complex chemical reactions and molecular recognition in the body. “This requires more regulation and caution in testing and development,” says Prof. Dr. Turner. However, we can expect more significant improvements and outcomes.
3. Questionable measurements
Apart from data being questionable due to inconsistent data gathering by the user, another issue is data reliability. If you wear your phone with a tracker and two tracking wearables for activity measurements, you are bound to get different results. Similar is true for home Point of Care devices. Are they then useful or harmful?
If you will ask laboratory technicians, they will tell you that Point of Care devices are far from laboratory accurate. But in which cases is that relevant? As Prof. Dr. Turner says, “from a laboratory perspective and for research purposes you always look for the best. However, Point of Care devices for patients just need to be good enough for managing conditions and early warnings. Personal devices for diabetes are not as accurate as clinical laboratory, but it doesn’t matter – they are good enough for management decision.”
You can listen the whole conversation with prof. dr. Anthony Turner here.
So what can we conclude out of all this? Wearables are simply a step in the evolution of health technology. Sensors are still promising us all a bright future. They bring:
More and more of them are embedded in the environment. Measuring is becoming seamless, taking away the issue of consistency with gathering data.
Biosensors have had a very long and successful history of miniaturization. “It took 20 years for that to happen for wearable blood glucose monitors, while glucose meters evolved from a huge instrument of 40,000 dollars to a device which today costs 7-17 dollars,” illustrates Prof. Dr Turner. For inventors, the biggest issue is, what kind of business model will work. But the final judgement from a financial perspective is clear: massive savings could be achieved.
There are currently more than 260,000 mHealth apps on the market, according to data from Research2guidance. Whereas this may be exciting news, the sheer number may also be overwhelming for patients and doctors. How can you know what is useful and what is not? One way hospitals are solving the app reliability challenge is by building in-house innovation incubators.
He are 5 reasons why in-house innovation incubators are good news.
1. Accelerating change
Innovation arms in hospitals are exciting because they help introduce novelties into the rigid healthcare systems.
2. Providing reliability
New solutions are designed by high profile specialists in hospitals. Consequently, solutions are tested inside the hospitals and perfected before they are put on the market.
“I would never give or prescribe medicine to any of my patients that has not been approved in some formal capacity. Why should I prescribe an app?” says gastroenterologist Ashish Atreja, MD, MPH. If you’re a startup, he might take a look at your solution. Why?
One of his jobs as the CTO of Sinai AppLab is onboarding new technologies built by startups outside Mount Sinai. After all, he emphasizes, “it’s impossible for one incubator to do and know everything.”
3. Ease of recommendation
It is easier for doctors to recommend in-house solutions, because they have better access and understanding of the innovation process and reliability of an app compared to the flood of other mhealth digital health offerings on the market.
As Ashish Atreja explains, Mount Sinai even build a platform which allows physicians to prescribe evidence based apps. “We curate the best apps based on the evidence, security and safety. There’s a whole team of people rating the best apps, looking at the published evidence and bringing them to the market place.”
4. Financial benefit
Innovation arms generate new revenue streams for hospitals.
5. Encouraging innovation
When a support environment for creativity is in place, doctors who want to innovate can test and develop their ideas. They also get all the entrepreneurial support in scaling and improving their ideas, so they can reach patients faster.
In 2012, Cleveland Clinic experts designed the Medical Innovation Playbook – a detailed report on the diverse and rapidly evolving technology commercialisation programs of the USA’s top medical centres. It includes an overview of nearly 10,000 invention disclosures, 6,400 patent applications and almost 2,000 issued patents.
The FTR4H health lounge will be featured to the 13,000+ healthcare professionals who will be attending Medical Fair India 2017. In terms of Digital Health angels, mentors and the venture capital ecosystem, we have representatives present of companies like Bertelsmann India Invest, HealthStart, iB Hubs, Peppermint VenturePartners, pi Ventures, t-hub, Utilis Capital Advisor.
Will the Medical Fair India (MFI) floor be open to FTR4H – Lab & Lounge participants?
Yes, FTR4H is an integral part of Medical Fair India, and it will be open for MFI visitor to visit FTR4H and vice versa. MFI is expected to be attended by 13,000+ healthcare professionals.
“Will the Pitch Your Solution” be open for Medical Fair India participants & visitors, or will it be restricted to FTR4H Lab & Lounge visitors & participants?
The opportunity to pitch will be restricted to FTR4H lounge participants (Sponsors, Startups) but every visitor interested in Digital Health can attend it.
Who are the Industry experts who will be moderating and judging the Digital Health Panel discussion & the “Pitch Your Solution” competition?
Pitching your solution means that you will present it to the interested public. It is a great chance to test your own story. We will not judge the pitch. For selecting the best Digital Health solution a dedicated FTR4H Award ceremony will be held on Friday afternoon April 7 at the lounge. The following names are currently aboard for hosting and guiding the pitches:
Dr Vishal Bansal – Investor, Mentor, Technology Enthusiast & Docpreneur Pradeep K. Jaisingh – Chairman HealthStart India
Mark Wächter – FTR4H Chief Evangelist & Mobile Strategist
Dr. Tarun Ramole – Digital Health Evangelist, Director Utilis Capital
Tjaša Zajc – FTR4H Global Audience Developer & Journalist
[learn_more caption=”What is FTR4H?” state=”open”] FTR4H is an international platform, which enables discussions, meetings, dialogs and networking among thousands of Digital Health start-ups, corporations and investors, including accelerators and media from around the world. [/learn_more]
What are the parameters for presenting at “Pitch Your Solution”?
Each startup will have 5 minutes to pitch every day during the whole fair (3 times). This is no competition, but a presentation offering you an opportunity to practice your pitch among your targeted public and get valuable feedback.
What is the format of the “Digital Health Panel” discussion? When will the topics for the discussion be made known to the participants?
Each startup has one pitch and one panel discussion per day. The panel discussion will be held with 5 startups in total plus a moderator. The topic will be decided based on represented solutions. Overall topic is how Mobile, IOT, AI and Data changes healthcare in a mobile-only country like India.
Are both the “Pitch your Solution” and “Digital Health Panel Discussion” part of the FTR4H – India competition?
No. All exhibiting startups at the FTR4H lounge automatically qualify for participation. The FTR4H India Award is a dedicated award ceremony taking place on Friday, April 7th, at 4 pm at the FTR4H lounge.
What are the benefits of the FTR4H India Award? Are there mentorship opportunities to be gained from the award?
The winner of FTR4H will get a mentorship by HealthStart Accelerator for their upcoming Accelerator programme. FTR4H acts as a Think Tank and connector of Digital Health ecosystems in China, Europe, India, Israel and the US with the World of MEDICA. The winner of FTR4H India Award will receive a global recognition through our global initiatives and exposure on our website: www.FTR4H.org.
Who is in the audience for the Blog Post and the teasers? How big and diversified is this audience base?
The FTR4H website is promoted on all Medica Trade Fair websites corresponding with the global roadshow, therefore the attracted audience are experts from the MedTech industry from around the globe.
India has more than 5 million qualified professionals working in the healthcare industry. There are around 1 million doctors and 2.5 million nurses. This workforce is growing at a rate of more than 10% per annum.
If India is a puzzle to you, this short interview with Mayank Sharma, one of the owners ofMedhoop – a platform for healthcare professionals and industry in India, will give you a nice introduction into the current state of the trends in the digital health startup community in India. And why it is a good investment to take part in events such asMedical Fair India 2017, held from 6-8 April in New Delhi.
“We aim to create an ecosystem in the healthcare industry for all the industry stakeholders. Everyone, from medical students, colleges and teaching institutes, healthcare providers, Health-tech, medical devices and consumables industry, thought leaders and startups, can connect seamlessly and grow together,” This is Sharma’s brief description of Medhoop. The size of the country is keeping the healthcare industry in India fragmented. The disconnect is making the industry inefficient and uncompetitive. For this reason, digital health development is so much more promising here.
Let’s start with the basics. What are the three digital health trends to watch out for in India?
The Indian healthcare industry is now growing 360 degrees. Healthcare providers are not only focusing on developing world class healthcare physical infrastructure, but also on integrating technology. All this aims at making treatment and information closer to patients. Among major trends I would highlight mobile health (mHealth), on-demand healthcare, EHR/EMR solutions, healthcare aggregators and telemedicine.
How developed are these segments?
The mHealth space is probably the hottest in the segment. It is being further augmented by wearable gadgets that monitor health statics on a real-time basis. There are startups integrating existing technologies with concepts like telemedicine, doctor on call and remote monitoring of patients. On-demand healthcare is fit for an urban population which seeks everything instantly. If possible, they want it available on their smartphones. Startups understand this need. EHR industry is on the rise, looking to capture all the information they can. Not only to provide better health care for patients, but also for system improvements. From cutting treatment costs, research purposes, giving patients access to their health records online, to changes in regulatory environment.
What does the startup community in India look like?
“Today India is among the top countries in terms of growth of startups. It is exciting, buzzing with innovation, passion and energy.”
India has been a country of startups for a long time. But the real recognition is happening now – with the rise of Startups Unicorns. We have Flipkart, Snapleal, Taxi aggregator Uber (prime competitor to Uber in India), online payment solution Paytm. Social media and growing internet penetration has opened an altogether new growth avenue for startups.
What about the digital health community specifically?
The digital healthcare community in India is growing at a very rapid pace. From hospital/doctor appointment booking solutions, EHRs, diagnostic lab aggregators, mobile health devices – innovation and new ideas all around. Today we see a lot more entrepreneurs in the digital health and healthcare space compared to 5-8 years ago.
What contributed to this acceleration?
At first, the healthcare community has been hostile to new technologies and experiments due to the inherent nature of its business. But slowly, the awareness levels and aspirations of doing things faster and better is positively affecting healthcare innovations and digital health technology. Companies like Practo have already made it big and are serving international markets already.
Which cities are leading in terms of accelerating innovation? How does Delhi rank in this community?
Bangalore leads the list, closely followed by Delhi, Gurgaon, Mumbai, Hyderabad and Chennai. Not surprisingly, we also have beautiful healthcare and health-tech ideas coming out from comparatively smaller cities like Jaipur and Ahmedabad. I myself come from Hathras, a very small town, and now residing in Delhi, so let’s say innovation has no boundaries.
What were the digital health biggest investments in 2016?
There is significant development and a number of startups working on services like pharmacy or lab services aggregators, remote monitoring healthcare devices and online doctor or hospital discovery. Startups which attracted major investments in 2016 were majorly from the SaaS segment. Practo, Healthkart, 1mg, and Goqii were among the front runners in a list of healthcare investments by investors.
“There is significant development and a number of startups working on services like pharmacy or lab services aggregators, remote monitoring healthcare devices and online doctor or hospital discovery.”
Which are your Top 3, 7 or 10 startups for 2017?
This is a tough question for such an exciting space like digital healthcare in India. But if I divide the digital healthcare space into segments, I would say the following: In-Doctor Networkspace: the two companies clearly standing out are DocPlexus and Curofy. Both of them are fulfilling the need of doctors to be able to consult cases online right from their mobile phones and build their own professional network. It would be interesting to see what route they take next.
In-Doctor Discoverysegment: booking platform Practo had disrupted the industry before anyone could even think of an idea such as online booking of appointments. Lybrate (online doctor database gives you access to over 90,000 highly trained medical experts) has been able to stick it out in 2016 and will, it seems, continue to do so. Then there is CrediHealth, with the tagline ‘Your Medical Assistance’ doing exactly the same. Within its services, it offers second opinions, doctor selection and surgery planning to an altogether other level. I am sure these companies will be further innovating and disrupting this space.
Where can Startups present their solution to the wider public? Are there many events such Medical Fair India?
There are multiple events on medical equipment, lab equipment, medical specialty-specific devices and pharma in India.
You are a partner of Medical Fair India. Where do you see the benefit of this collaboration?
It matches with our belief that as a healthcare ecosystem partner, we have a responsibility to represent all the healthcare stakeholders and engage with them. This year Medical Fair India combines equal opportunities for healthcare companies as well as medical and healthcare technology startups, which is an encouraging trend.
What can startups expect from Medical Fair India?
The most important part of such expositions and fairs is networking with various industry stakeholders. Participation offers understanding of new dimensions of the industry, understanding the demands, meeting customers, buyers and a lot more. This season Medical Fair India integrates FTR4H (Future For Health) platform where healthcare technology startups can participate. Medhoop also plays a critical role of bringing these startups to forefront, connecting them with industry, prospective customers, investors and a lot more. Among other things, we are organising mentorship hours for startups. So there is a lot for startups to gain.