With accessible and affordable patient-centric technology, Mykare Health is revolutionizing healthcare in India

CXOToday has engaged in an exclusive interview with Mr. Senu Sam Founder & CEO of Mykare Health

How AI is making healthcare more affordable and accessible?

Radiology, pathology, dermatology, surgery, and infertility are just a few of the medical specialties that artificial intelligence is revolutionizing. By enhancing processes like image analysis, pattern recognition, and data-based assessments, AI algorithms are quickly advancing clinical workflows, disease detection, and disease treatment.

Despite the fact that artificial intelligence (AI) in healthcare is still in its infancy, it has enormous potential to reduce costs and improve patient access to care. Delays in action and a lack of preventive care lead to catastrophic situations, especially in Tier 2 and Tier 3 areas where there are still staffing and service gaps in the medical industry. Due to their unbalanced economic situations, people in developing countries already struggle to pay for the most basic healthcare services. Given how pervasive technology is in almost every aspect of our lives, using these cutting-edge tech-based solutions to improve human life may be their best application.

What are the various digital transformations in Healthcare and highlights on the Evolving Landscape?

Through the use of technology, care has steadily moved from hospitals to patients’ homes over the past ten years. With the help of teleconsultation models, mobile apps that support care delivery, IoT devices that track vitals, diagnostics at home, rapid self-diagnostic tests, and new asset-light hospital models like Mykare Health, which make use of underutilized small and medium hospitals, care is now reaching patients’ homes as a result of the pandemic and increased digital penetration.

The adoption of technology by physicians and healthcare organizations in the form of electronic prescriptions, social networks for physicians, and communication with patients through WhatsApp integrations has supported the rising consumer interest in digital health.

Although there is still much to be done, new technology is increasingly being used in fields like radiology, surgery, and mental health. Surgery training in virtual reality helps doctors get ready for new techniques, cut down on wet lab expenses, and improve their own skills.

Every patient’s journey touchpoints are tracked using technology at Mykare, from the very beginning to the very end. The patient app, internal CRM, CareBuddy App  and chatbots.

How can HealthTech and FinTech merge to offer quality healthcare to Indians?

There are many similarities between the factors enabling the finance environment three to five years ago and those enabling the healthtech ecosystem today.

For a very long time, healthtech organizations struggled with the issue that big players or health systems were unlikely to help them develop a wider range of services because of their inexperience and small size. Working with these organizations required healthtech entrepreneurs to develop specialized point solutions that were challenging to spread to additional clients. To fund a Series A or B, however, there would not be enough perceived addressable market and income possibility if these companies weren’t involved. Due to these elements, it was difficult to get going quickly and develop a sizable product with clear room for expansion.

The financial services and healthcare industries are very similar to one another. Customers don’t seem to enjoy going to the bank or experience at the hospital on the whole, according to customer satisfaction surveys. Customer satisfaction is low in both for obvious reasons.

Startling parallels can be drawn between the current state of healthcare and the fintech industry three to five years ago. For the first time, between 2022 and 2018, respectively, venture capital in the industries of fintech and healthtech increased by more than 50%. The implications for where the healthtech ecosystem will go are fascinating, especially if it adopts the fintech model.

How is Mykare Health utilizing patient-centric technology to improve India’s access to healthcare?

All parties involved will benefit from a medical setting that promotes consistent cooperation and open communication between patients, families, and providers. Healthcare providers can reduce costs and better allocate resources by streamlining and optimizing their internal processes. The world after the pandemic increasingly looks to technology to address its most pressing issues. The potential of technology to create easily accessible, reasonably priced, and successful healthcare systems is limitless. With the wonders of medical technology comes a stronger emphasis on patient-centered design. In India, healthcare accessibility is being restructured and modified as a result of this productive intersection between technology and patient-centeredness. At Mykare Health, we are preparing for this with technology in order to provide a patient-centric approach by giving the appropriate information through tech at the appropriate time.Affordable pricing , Correct data, ABHA integration, dashboards for medical facilities and practitioners, the Care Buddy app that guides patients at every touch points, IOT Connect data, and pricing analysis.