Growing Healthcare, With AI
Information and diagnostics startup LiveHealth gives its customers their reports as soon as they are available and eliminates entry mistakes by automation and digitizationBy Aatika H Jain
The healthcare sector in India is estimated to reach $280 billion by 2020 according to a recent report, Indian Healthcare Industry Analysis, by the Centre’s India Brand Equity Foundation. Automation and digitization have given an impetus to the industry’s growth. One of the promising startups in this sector is Pune-based LiveHealth, which offers automation and digitization of medical diagnostics to its clients. A cloud-based management information system for healthcare providers to access patient information on their mobile phones, tablets or laptops anywhere, anytime using the internet through the LiveHealth app.
Patients can view their reports, compare it with past health records and monitor their health remotely, as well that of their family members, with the help of trackers. It aims to help doctors and patients in making informed decisions.
LiveHealth helps with sample collection, patient records management, diagnosis, report generation, billing and maintaining inventory using Artificial Intelligence to process records. Last March, it raised $1.1 million in funding during its seed round through Nexus Venture Partners. The startup had earlier raised $300,000 as angel funding from industry experts such as Rajaram Samant, CEO of Akumentis Healthcare, and Pramod Dhembare, Founder-MD of Fidelity Diagnostics. Its USP is to provide diagnostic centres with actionable insights that help them improve revenue generation and to make information exchange with other healthcare providers seamless.
“LiveHealth not only helps us to monitor and analyze our turnaround time effectively, but we can reduce it considerably. Ours is an automated lab with all our equipment integrated with LiveHealth LIS, in a seamless way,” says Debangshu Choudhary, Mrigaank Laboratories, Pune. Kiran Gosavi, CEO of Millennium Special Lab, Thane, says the company can now focus on its core laboratory operations, thanks to LiveHealth. “After switching over to LiveHealth’s cloud-based lab management solution, our team is now relieved of monthly physical data backups, internet virus threats and server contingency,” he says.
“Livehealth is more than a single product or a service. It’s an experience-driven ecosystem. We aim to solve the fundamental problem of the healthcare system, communication of medical information,” say the founders, Abhimanyu Bhosle and Mukund Malani. “If you have ever visited a hospital, you would notice that once you are billed you would be handed over a file of medical records. Physical copies of information have a lot of problems associated with them. Livehealth provides a platform for both the healthcare providers and patients where they can manage and maintain medical records and do a lot more.
“Physical copies of information (medical records) have a lot of problems associated with them. Livehealth provides a platform for both the healthcare providers and patients, where they can manage and maintain medical records, and do a lot more.”
Mukund Malani,Co-founder, LiveHealth
”Founded in 2013 by Bhosle and Malani, both alumni of Pune Institute of Computer Technology, LiveHealth now has more than 1,500 labs and diagnostic centres utilizing its services. It processes more than two million reports per month and caters to more than 30,000 patients every day. Improved management of healthcare businesses ensures improved service and care for the patients.
“LiveHealth’s online reporting and mobile app have increased the number of referrals and patients coming to our labs,” says Mazin Gabora, Total LabCare Medical Laboratories, Sudan. It offers comprehensive services to automate the processes of a health business right from the front desk, taking care of patient management, sales, bookings, and collection to reporting customizations and authorization from doctors, enabling them to sign their patients’ reports from the app itself through instrument automation, thus completely eliminating data entry errors.
It also helps with inventory and finance management with daily insights, administration tasks and seamless collaboration with other diagnostic centers for outsourcing management.
“Switching the entire operations to a whole new platform is always painful, but the training and prompt support by the LiveHealth team made it simple,” says Dr. Ashok Chandrasekar, director of the Hyderabad-based Dr. Iravatham’s Laboratory. LiveHealth is now being used by more than 1,200 companies in cities across the country.
The company is working towards products that can work directly for the patients. “With the last round of funding, we have started working on a new product in the B2C space,” says Bhosale. “It will be launched in the coming months. Our other expansion plans are mostly geographic expansions. We want to make sure intelligent reports replace the traditional single dimension ones.”
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