Regulatory controls in healthcare are largely in place in India, but at the same time, there are many areas where laws need to be revisited to tighten their somewhat loose structuring, observes Ananda Sen Gupta, Founder & CEO, TrackMyBeat, in conversation with Elets News Network (ENN)
Give us an overview of your solutions and how are they contributing to better care delivery?
Trackmybeat Healthcare (TMB) offers a home-based health and wellness management system to monitor as well as manages the patient’s health. By tracking and analysing a number of health metrics over a period of time, individuals and their physicians can assess the efficacy of various lifestyle choices and medical interventions on health outcomes. Thus, improving their ability to take action to improve general health and wellness for the users. Focused on health fundamentals and targeting lifestyle diseases such as hypertension, diabetes, and cardiovascular disease, TMB provides users with the equipment and monitoring tools to better manage their health.
The solution allows the user to have precise control over patient’s health and fitness levels improving the quality of healthcare management and delivery. The solution:
- SmartPlan –Personalised, digital health management plan based on the patient’s health reports and doctor’s records.
- SmartMonitor –Precise monitoring through wireless medical devices and smart applications.
- SmartAlert –Personalised realtime health alerts in case of protocol violation and regular reminders for plan compliance.
The value to the consumer (the patient or family member of the patient) is high as one is always fully aware what interventions and actions have been planned, where they stand in their treatment process, and also if there has been the impact of the treatment, taking away the day to day worry.
The value to the medical organisation, in turn, is high as they are able to keep track of the health of the patients at all time, and can offer customised services leading to higher patient satisfaction, and healthier patients.
What policy barriers do the healthcare startup companies face?
Regulatory controls are definitely in place in India for a certain area of work in healthcare. Having said that, there are many areas where structured laws are not in place. Device certification is one such area. Sometimes not having the right regulatory environment is also a challenge. For instance, not having a device certification process can allow a larger, foreign company to flood the market with devices of unknown quality at low price point. Such products may not be acceptable to place in other countries at all. We have not faced any regulatory roadblocks per se, and the startup environment in India is quite open. Our solution is also highly consumer focused and uses the latest worldwide standards in privacy, and stays on the right side of regulation by default.
What is your business roadmap for coming years?
We are starting to see growing traction in home health companies in India. The numbers of patients these organisations are catering to are in tens of thousands, and I believe we will grow rapidly through these agencies.
We are also engaging with NGO’s under CSR initiatives to see how we can place our solution in the rural sector in the right way.
We are also working on an entry into several international markets. The largest, of course, is the US, where this solution has proven to be an innovative approach to remote healthcare. We have already signed up a US partner to start pushing into the US market.