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Experts are of the view that digitization of the healthcare industry is the need of the hour as it will increase healthcare inclusion by method of teleconsultation, homecare, remote care, etc.
"Current healthcare is very much doctor driven, but if we want to make it more contributions from more stakeholders we need to bring digitization to reduce the operational cost," said Nidhi Jain, founder and CEO, KareXpert.
In India, we have a huge gap between doctor to patient ratio and bed to population ratio against the WHO standard. Another factor what makes it a more unique problem is that 70 per cent healthcare facilities are available in urban areas however 70 per cent of the population is living in rural areas. So for better accessibility and better operational efficiency digitization is must. Digitization will increase healthcare inclusion by method of teleconsultation, homecare, remote care etc. Second, as we digitize the data, we can analyze it clinically as well as operational efficiency, he said.
The digital adoption in the India healthcare sector is very slow, as the need was not realized till the pandemic struck the world. This covid-19 pandemic has certainly acted as the catalyst for the healthcare IT industry. Healthcare industry is really exciting in the next 3 to 5 years not only for India but for the world also. The healthcare industry is expected to grow more than US$ 800 billion in Next 5 years. The Covid-19 crisis, in many ways, has helped break the status quo of the healthcare IT industry. It is the pandemic that has exposed the underlying vulnerabilities in the infrastructure of both public and private healthcare facilities, Jain said.
Teleconsultation which has been long pending in India got its nod during the Covid-19 pandemic times and getting a lot of traction. KareXpert is empowering many new providers who want to provide virtual care to patients targeting different specialties. KareXpert platform becomes really handy for them as it comes as an out of the box solution for them without any upfront cost. While the recipe across providers varies, common among these new business models are delivery of hyper-coordinated care, better collaboration among stakeholders, and the use of Big Data and advanced analytics. Such models intend to reorient traditional healthcare towards a more integrated healthcare to provide high-quality, accessible and affordable care. These technologies have enabled the facilitation of many different business models like virtual care, remote care, home care etc
Talking about expansion plans of KarXpert Jain said, "In the next 5 years, we have a plan to onboard 100K hospitals globally. Our 5-year plan is aligned with KareXpert’s vision to create a connected healthcare ecosystem. We are creating a technical partner ecosystem to bring more value to healthcare stakeholders. We like to bring every clinical AI/ML innovation to the end users and uplift the quality care with speed and operational efficiency and accuracy. We are integrating all the devices with our low coding integration platform to reduce human error while entering the data. As these devices become connected, real-time data accuracy will increase tremendously. We are also working on Big Data with analytics to provide better outcomes and forecasting for overall efficiency. And the beauty of our model as it is SaaS based, Cloud based, technology accessibility is not going to be upfront, which is the case for today’s legacy vendors and every hospital as to reinvent the wheel for the same benefit."
"As we are cloud-based and SaaS based, location is not really a barrier for us, we can enable any hospital, or chain of hospitals, clinics, diagnostic, pharmacy, ambulance, telemedicine at any location. Our expansion plan is via partners so we are looking for partners in different countries and in India also who can work with us to take this platform in India as well as globally. We have recently closed many partners in India as well as different countries" adds Jain.
She further stated, "We have already 50+ pre-integrated modules as part of the healthcare platform just to name a few- Advance HIS, LIS, RIS, EMR/EHR/PHR, pharmacy, inventory, SCM, Mobile solution for everyone. As our digital healthcare platform is microservices and kubernetes bases and it is also based on No/Low coding KareXpert XCloud platform, for us development cycle is very fast and we follow weekly agile release cycle which make us more agile to create new features very quickly. We have recently launched our opthal specific EMR and operational workflow. We are also working with partners to bring AI/ML use cases to our stakeholders."
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