Thought Leaders in Healthcare IT: Raj Agarwal, CEO of Medocity (Part 2)

Raj Agarwal: What we have done uniquely is combine all four aspects into one single platform. It’s seamless and integrated to allow multi-party connectivity. You can add family members or caregivers and engage in a meaningful  way. This is targeted more for complex and high-care chronic conditions. At the heart of what we do is early detection and proactive interventions.

We take the data from symptoms, side effects, or assessments, with vital signs, and then run it through rule-based algorithms to assess the severity of what’s going on. Then, we give a guidance to the patient immediately. Simultaneously, we trigger an alert to the care team so they can make an intervention as they deem necessary by utilizing our communication suite or sending them educational stuff. That helps in early detection and proactive interventions which ultimately leads to better outcomes and reduces unnecessary cost in the system.

Sramana Mitra: This applies to all of the players involved?

Raj Agarwal: Yes. We spent over five years building this platform with over 40 programmers plus a 10% medical team. It’s highly modular and inter-operable. Then we can create different programs for different settings. Underneath is a very complex system that they can leverage. In terms of front end, we give the users a choice of how they want to interact. They can use either a mobile platform or go to a web browser.

Wearables and devices too can send information too us. We have also incorporated digital assistance like Alexa. The last one is AI-based calling for someone who is not digitally savvy. We have combined them seamlessly so they can use one or more ways to enter their data. Then it runs through the central platform.

Sramana Mitra: What percentage of your customers are insurance companies?

Raj Agarwal: We don’t disclose that publicly.

Sramana Mitra: Where are you getting adoption?

Raj Agarwal: In all three segments.

Sramana Mitra: With no bias one way or the other.

Raj Agarwal: The sales cycles are different. This has been our strategy to have a very enterprise-level platform because if you really want to touch on patients, pharma is looking to get in touch with patients, payers are looking to improve their care and reduce cost. We give them a unique opportunity because it’s not just one-on-one kind of thing. Sometimes, pharma would bring providers into the mix or payers would bring providers as well.

Sramana Mitra: As in all trends stories that we do, we ask the question about adoption of a certain style of technology. You are speaking to a certain trend which is value-based care, right?

Raj Agarwal: Yes, it’s good for provider segment. For pharma, we see more of how can they do beyond the pills. How can they add a care level around the patients? We are talking about specialty drugs which are very expensive drugs. A care support helps them improve outcomes or get a better value for what they’re charging. We see a lot of digital adoption in the pharma world including clinical trials.

There’s a new area called digital therapeutics where you’re combining software with or without medication to be considered as a treatment. There are three areas that we see on the pharma side as the trends where it’s gaining traction. On the payer side, it’s more about managing the complex and chronic conditions in a way where you not only get a better outcome but also reduce the cost in the system. The more you engage with the care team, the more you’re going to be better off. They are looking for solutions like ours to adopt.

This segment is part 2 in the series : Thought Leaders in Healthcare IT: Raj Agarwal, CEO of Medocity
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