Healthcare Industry is evolving fast and offering tremendous opportunity to Health IT Vendors

Suchet Singh, CEO, Srishti Software Applications Pvt

Healthcare business has shown tremendous surge in recent years. To take advantage of the wave, two major trends have been noticed. One- corporate giants have started chains of hospitals across the country.  Second being emergence of chains of single super specialty hospitals. Managing these chains of hospitals has necessitated a common multi-location HMIS platform that can be accessed at multiple levels. In the multi-location space, our healthcare solution suite, PARAS is the leader.

Our healthcare solution suite, PARAS is an integrative platform that has helped hospitals manage their costs at activity level and substantially improve their revenues.  It allows high interoperability of entire spectrum of healthcare technologies enabling client hospitals to deliver best-in class service. Most unique feature of PARAS is the activity based costing approach which has allowed client hospitals to right price their services.  PARAS conforms to all global and industry standards including HL7, HIPAA, NABH, JCI, ITIH, etc.

Despite the promise that Indian IT Sector holds, a majority of SME workforce are not trained in IT and hence they resent the adoption of IT. Most of the branded IT products, fail to deliver in a typical Indian scenario on the grounds of relevance. Srishti, being an Indian company has known market more closely and hence, the PARAS is built to deliver in a Indian hospital ecosystem.

With IT sector developing fast, hospitals fear technology obsolescence. We have offered a solution to this problem by making solutions adaptive and modular, which allows hospitals to choose a customised solution based on their requirement to enhance clinical care without the fear of technology obsolescence and functional outgrowth.

Healthcare Industry is evolving fast and so, offers a lot of opportunity to Health IT Vendors like us. To manage their patient load, hospitals require HMIS software, which is interoperable, conforms to international healthcare standards and can handle their day to day operations efficiently. Chain of hospitals also requires a common HMIS platform that can be accessed at multiple levels. Further, most of them require a technology that does not get obsolete when business grows.
IT has revolutionised the way patient care is delivered. From usage of Electronic Health Records to store patient data, to usage of RIS, LIS modules have reduced human intervention to minimum and hence, have lessened the chances of careless errors. Further IT has automated most of the procedures in hospitals. This has led to them treating more patients and discharging them faster.

Indian Healthcare market has been showing a promising future, thanks to countrys economic growth. The rise of income among middle class has led them better access to healthcare. Further in the wake of competition from healthcare industry in the west, hospitals in India are feeling the pressure of stepping up the quality of service delivered.

While the growth of healthcare Industry and HMIS adoption has surged ahead, policy development has not kept pace. Hospitals deal with extremely sensitive patient data including medical, demographical, insurance, family history, etc. A breach in any of these data could jeopardise the security of the patient. Absence of clear policies makes them vulnerable to access to data by fraudulent means. World over, hospitals have adopted Health Insurance Portability and Accountability Act (HIPPA) as  a standard to share  patient data across different departments of the hospital.

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Related April 2012