Category — Healthcare
Eighteen-month-old Lybrate, based in New Delhi, which aims to increase access to doctors and quality healthcare information, received $10.2 million in funding from Tiger Global, Tata Sons’ President Emeritus Ratan Tata and existing backer Nexus Ventures.
The Opportunity: People in metro areas put off visiting doctors for lack of time, traffic congestion, and just the hassle. Whereas people in rural areas, where fewer doctors are available, preferred to get medicines prescribed by local pharmacists.
The CEO: Saurabh Arora left the U.S. and his job as a data scientist in Facebook and returned to India to start the business when, on a visit home, he realized the need for a web-based platform along with apps for Android and iOS that could connect doctors to patients and break down the barriers surrounding healthcare in India.
The Product: Users can search doctors and surgeries, make and manage appointments, and save their medical records. Patients can consult more than one doctor for opinions – they are only charged when they choose to enter into a one-on-one dialogue with a doctor. In that event, the app handles the communication, allowing them to share photos, videos and chat via text with the physician. Patients are charged a variable fee set by the doctor, and an additional ‘internet handling fee’ — typically a further 5 to 15 percent — which goes to Lybrate, reports Tech Crunch. Additionally, Lybrate’s mobile apps carry Facebook-like feeds which provide daily health tips and advice to users based on their own needs or situations, such as pregnant women or seniors.
“Lybrate’s concept is ground breaking. We believe it has the potential to revolutionize healthcare delivery in India and script the future of the healthcare industry with its model,” said Lee Fixel, the Tiger Global partner who has overseen the firm’s major investments in India.
July 9, 2015 No Comments
“India is fast emerging as a center of excellence in joint replacement surgery. It is not only patients from smaller cities or rural areas that come to several metro cities to have their knee replacement surgeries performed, but also patients from several international locations ” says Mudit Khanna, orthopedic consultant at the Mumbai-based Wockhardt Hospital.
Gargi Ghosh, a physiotherapist with AktivOrtho a rehabilitation center in Delhi, said that over 100,000 overseas patients visit India every year for high-end knee surgeries and that the Indian government was easing restrictions on citizens of many countries, making it easier for them to travel to India for such surgeries. With every new advancement in the transplant process, ways were being developed to minimize the invasive nature of the procedure, she added.
The Statesman reports that India is expected to have a $2 billion industry serving overseas patients by the end of 2015.
June 24, 2015 No Comments
Wipro GE Healthcare shipped out the first Computed Tomography system designed and developed in India to a hospital in Pune, in the western state of Maharashtra.
“This is the first CT system to be entirely designed, developed and manufactured in India,” said Milan Rao, President and CEO, GE Healthcare South Asia and Managing Director, Wipro GE Healthcare. He said that the system has been co-created by 500 different healthcare providers with 75 engineers at the technology center dedicated to the project. GE has on hand 50 orders from across the country for the new machine, reports The Hindu Business Line.
At approximately $0.16 million, the new machine is nearly 40% lower- priced than legacy GE product, and included in its features are a 36 percent lower radiation with a smart dose; a 28 percent lower life cycle cost; and a 50 percent reduction in weight as compared to a traditional machine.
To ensure the availability of skilled manpower to operate the sophisticated machines in smaller towns, the company has set up a skill development business section to train new technicians as well as upgrade the skills of existing personnel.
June 24, 2015 No Comments
New Zealand-based Volpara Solutions made its first sale in India of its Quantitative Breast Imaging Tools. These tools help reduce subjectivity in the assessment of breast tissue density and improve the prediction of the risk of breast cancer, reports Wellington.Scoop.
The purchase was made by the Post Graduate Institute of Medical Education and Research located in Chandigarh and the tools will be used for research purposes. High breast density increases cancer risk by 4-6 times compared to low breast density. India’s National Cancer Registry Program reports a rising incidence of breast cancer in younger patients and the institute will use the software to better understand not only why India’s cancer risk is rising, but also the differences in cancer risk among its different ethnic populations.
“This is an important first sale into such a major global economy with a massive population and rising incidence of breast cancer which our software can help understand and hopefully reverse,” said CEO of Volpara Solutions Ralph Highnam, PhD.
June 22, 2015 No Comments
To ensure ethical marketing practices by pharmaceutical companies, India’s government has charted a code of conduct for the industry, beginning this year. The Uniform Code of Pharmaceutical Marketing Practices has been modeled on the Medical Council of India guidelines for doctors and healthcare professionals which prohibits doctors from accepting freebies from pharmaceutical companies or the healthcare industry.
The code bans gifts, hospitality, medical samples, and medical grants, and clarifies the relationship with healthcare professionals. Regarding gifts, it says, “no gifts, pecuniary advantages, or benefits in kind may be supplied, offered or promised to persons qualified to prescribe or supply drugs, by a pharmaceutical company, or any of it agents including retailers, distributors or wholesalers,” reports The Times of India. “In any seminar, conference or meeting organized by a pharmaceutical company for promoting a drug or disseminating information, if a medical practitioner participates as a delegate, it will be on his/her own cost,” it continues.
This code exhibits similarities to the 2010 Physician Payments Sunshine Act of the United States, a healthcare law that was enacted to increase transparency of financial relationships between healthcare providers and pharmaceutical manufacturers; ensure patient safety; and flag areas of potential conflicts of interest.
June 9, 2015 No Comments