Diseases and illness have become a matter of serious concern in current times. People suffering from serious health issues now require instant medical assistance. This is where specialized healthcare practitioners and diagnostic centers step in. They serve the patients with utmost dedication.
One such leading name in the healthcare sector is Inovocare Healthsoft Solutions. It delivers innovative healthcare solutions. Its products are designed for Indian masses, with a focus on quality.
The person leading Inovocare confidently towards success is Rohan Tripathi, the Founding Director. He is a MedTech entrepreneur with an electrical engineering background. Mr Rohan is focused on creating affordable and implementable solutions for health-related problems, especially designed for the Indian masses.
In an Interview with Insights Success, Mr. Rohan shares the journey of Inovocare Healthsoft Solutions, its various services, and future plans. Following are the highlights of the interview between Mr. Rohan and Insights Success.
Please brief our audience about your organization, its values, vision, and mission.
Inovocare Healthsoft Solutions or IHS believes relentlessly in providing innovative India ready solutions for healthcare problems. We aim to bridge the unfortunate gap between medical innovation and the end user. Our products are designed especially for the Indian masses with a firm eye on quality keeping in mind the economic and infrastructural constraints. We follow an extensive feedback-based product development process, interacting continuously with the end users and the medical fraternity.
Inovocare Healthsoft Solutions Pvt. Ltd. was funded by DST, Govt. of India and formerly incubated at IIM Bangalore.
What makes your company a preferred choice over your competitors? List the products and your expertise that you want to highlight in this article.
Our first product offering called MedpeR™ is a hardware-based system for medicinal adherence.
The thing about medicines is that they cannot help you unless they are consumed properly. Often due to negligence or general forgetfulness on our part there can be a case of under dosage or over dosage. Especially when we consider the elderly, where pill burden is usually high as is the complexity of the medicinal schedule. Also, currently, it cannot be expected that someone is physically present all the time to help with medicines. There are a few devices available for this, however they are either too high end and expensive or they are the equivalent of a decorated lunchbox and lack any system of vigilance.
To solve all these problems, IHS introduces MedpeR™, your personal Medicinal helpeR!
It is a portable hardware unit to store all your pills. There are systems for multiple level alarms to ensure the user has each pill on time, every time. We have a dedicated App and Website to control and remotely oversee the medicinal adherence along with other benefits.
Being in a leadership position, what is your opinion on the impact of the current pandemic on the healthcare industry and the related HealthTech market?
The pandemic has accelerated a wheel of change that was knocking at the door for quite some time now. Digitization of healthcare along with an increased emphasis on home care and a general change in the approach towards healthcare can be observed due to this pandemic. We witnessed a historic race to develop vaccines at an unprecedented pace. Doctors and medical workers were compelled to adopt telemedicine during the pandemic. Various wearables and electronic gadgets and apps introduced within the optimizing healthcare delivery during the difficult time of the pandemic, find their relevance and utility well beyond within the pandemic too. This has also enabled furtherance of the growth of data science and AI in healthcare. This rapid advancement in technology coupled with increased willingness to adopt the same by the medical fraternity and the public at large, opens up the possibility of more equitable distribution of the benefits of advances in health sciences. The pandemic has truly opened opportunities galore for healthtech.
What kind of challenges has your company faced being in the medical devices business?
Challenges have come in all shapes and sizes. From the most obvious and ridiculous ones to proper technical ones. One big challenge was the unavailability of information and resources. Typically, many electronic modules are available at a hobbyist level. The raw components used at large industrial level are only available in bulk and are typically custom made. Being somewhere in between these two extremes, the development process gets unduly lengthy and expensive.
However, often these have appeared as lessons and we have marched forward to better and crazier challenges.
Being in the medical devices space, how necessary do you think it is to align one’s business with the latest technological developments?
One must keep innovating to avoid being obsolete. While it’s very important to stay updated and well versed with the technical developments, one has to be careful so as not get carried away. It’s all about the problem being solved. During our incubation at IIM Bangalore, one of the things that we learnt from our mentors was that it’s not about the features of your product; it’s all about the benefits that it brings to the user.
As one of the prominent medical device enablers, what steps have you taken towards tackling the COVID-19 pandemic and its impact, all the while safeguarding your employees and taking care of your clientele’s needs?
Like any other company, we worked from home and could not get the team together in office during the COVID peak. We made sure that the entire team could avail resources at their residence. We faced a lot of logistic issues and it was very difficult to obtain electronic components.
We utilized the lockdown to establish Inovocare e-Academy, an e-platform for continued medical education. We regularly interact and the platform is utilized for academically rich interactions.
We are also continuously experimenting with 3D printing, in order to try and reduce the cost and the time required at the development stage.
What advice would you like to give to the young entrepreneurs who are looking to enter in the medical devices and healthcare space?
It’s like a box of chocolates, you never know what you are going to get. Jokes aside, it’s a bumpy ride and a long one, so get a good team. Happy hustling!
How do you envision on sustaining your company’s competency in this ever-cutthroat business ecosystem? Where do you see your company in the next five years?
The vision for Inovocare Healthsoft Solutions has always been of a multiple product company. The sector that we primarily look at is elderly care. Over the next few years, we plan to have strategic partnerships on multiple levels to scale up our operations.
Apart from ensuring a solid product offering, we plan on continuous awareness and interaction programs with both the end users and the medical fraternity.
On the longer run we see ourselves as a reputed Medtech company with multiple product offerings in the market in India and Overseas. At the end of the day, we want make lives easier and a bit better for the Indian masses.
