Even before the first Internet of Things (IoT) hypothesis, the healthcare industry has been a pioneer in leveraging the technology advantages with telemetry practices. But the commitments of IoT that anticipates a market of $ 68.8 billion in healthcare by 2020, is far beyond the boundaries of telemetry, especially in countries like U.S. where the ageing population is rising significantly largely due to baby boomers There is a necessity and growth potential in home care & remote care which can be effectively delivered by IoT based solutions. In India, the average daily cost for accommodating an inpatient exceeds Rs.2000 and the post-surgery interventions goes well over five fold.
To feed this niche tech-starving fragment with the symbiotic benefits of artificial intelligence (AI) and IoT, Smartify Health was incepted in 2016 by a group of business experts & techies, Tushar Ratanghayra (CEO), Devesh Rajadhyax (Chief Advisor), Rajashree Rajadhyax (CTO) and Sandeep Sukhtankar (Investor). The concept ignited over a cup of coffee between Devesh & Tushar took no time to spread hotfoot via Cere Labs (a tech-research firm owned by Devesh).
The Cost-effective ‘Smartness’
Through clinical data aggregation by IT-OT integration, the IoT products designed by Smartify will enhance the clinic & hospital operations
The smart devices designed & manufactured by Smartify Health using patented technology, will collect patient data from remote locations and generate meaningful analytics for the intended recipients. With these AI backed IoT & Real Time Location Tracking System (RTLS) based smart-devices, the company assures not only increase in accuracy & ease of use, but also reduced intervention costs. The organization offers highest scalability for these IoT devices in contradiction with the competitors who follow the custom of hard wired products. “Our deployment model would reduce the implementation time by 60 percent and bring down the total cost of ownership significantly,” proclaims Tushar. The health server will be deployed in its private cloud and available on a SaaS model for care homes, clinics and small & large hospitals.
From tracing wandering-patients to monitoring the elderly individuals in nursing homes and hospitals, the IT-OT integration has a bright future. Through clinical data aggregation by IT-OT integration, the IoT based products designed by Smartify Health will enhance the clinic & hospital operations. By integrating the clinically relevant data gathered via mobile apps and wearable to the EMR using industry standard protocols of HL7 & FHIR, the organization foresees to tap in the remote patient care and infection control segments. To wrap up this niche, the company also designs a wide range of products including, but not limited to, Automated Workflow Manager, Clinical Data Aggregator and an exclusive augmented reality based Analytics Engine.
Launching with a Bang
Within this short period of time, the company has appointed experienced freelance consultants to meet the end-to-end stack development skill set for an IoT product. To mess with the product QC, UX, marketing, finance and legal aspects, the organization anticipates to identify & have consulting contracts with the best of the available resources in the industry. Smartify Health has also outsourced a secondary research team to scrutinize the market size and competitor positioning; visibly a checkmate for organizations serving the healthcare segment.
However, the 15 humble employees of the company are indeed excited today as they are near to deploy their first minimum viable product (MVP) in MGM Hospital & Research Center, Aurangabad. The company is looking forward to launch its premier product by mid-2017, which will be followed by four IoT products in Q2 of 2018 and expansion to geographies like US, Canada, India, GCC and Europe in next few years.