How has digitisation impacted healthcare so far?
Clinical documentation has always been critical for healthcare professionals for billing, insurance, medico-legal purposes and analytics to achieve better patient care and the cornerstone of digital health is the successful implementation of Electronic Medical Records. In developed countries with more advanced healthcare systems, where the doctor patient ratio is manageable, doctors have to document and capture every detail of patient care in the EMRs which allows those healthcare systems to actually thrive and provide better service. But the downside of it is that it leads to “EMR fatigue” or “Physician Burnout” where doctors end up spending as much time inputting patient data as they do in patient consultation averaging close to 3-4 hours a day. As India upgrades it’s digital systems, more and more pressure will keep falling on physicians to input and keep better records.
Idea behind the development of Augnito?
With Augnito, our vision was to transform our 2 decades of clinical documentation knowledge and expertise in quality systems, security, and the criticality of turnaround times in hospital environments; and package this into a powerful AI that is a first of its kind in our country which is easily accessible to every doctor.
For Indian healthcare systems to scale and support a billion plus population, we need widespread adoption of EMRs and Augnito is a great enabler. Think of us as something like “Intel Inside” of healthcare software. Augnito enables comprehensive and detailed information at the right time available to the correct person across the Continuum of Care which drives better clinical outcomes in healthcare systems and directly impacts patient care.
What is the addressable market opportunity globally and in India?
Voice is still a very new medium in the Indian healthcare ecosystem and our future is very intertwined with the clear trend of digitisation of EMRs (Electronic Medical Records) in the country.Generally we work with the hospital finance departments and take them through our Value Calculator which makes the cost benefits very transparent. For example, a large healthcare group of 2000 beds could save 20-30Cr a year with the adoption of Augnito. If a healthcare group of this size in India can have such cost benefits, you can imagine, internationally the healthcare industry is saving billions of dollars with the introduction of this technology. Established voice tech companies in the US have multi-billion dollar valuations which demonstrates the financial impact of this technology on the sector. According to a Business Insider research published in Dec,2019 “Voice is making waves across industries, but the transformative power of the technology is now at a tipping point in healthcare. The opportunity for voice in healthcare is pegged to mount as the global health virtual assistant market is expected to reach $3.5 billion in 2025”How is Augnito making a difference?
With the Digital Health revolution in India, healthcare organisations are investing in expensive EMR solutions but they are extremely cumbersome for the physicians. Doctors end up spending as much time in putting patient data as they do in patient consultation. Augnito address this pain point and eases the effort required to input data in EMRs through an intelligent voice driven user interface. With Augnito, doctors can produce twice the number of reports in the same time with close to 100% accuracy, which allows them to focus more on patient care and has a direct impact on the bottom line.
Covid-19 has forced organisations to think leaner and adapt to the new normal. Healthcare providers now require highly efficient systems for medical reporting, to minimise human contact and allow doctors to have dynamic working hours and work from home as well. Augnito successfully fulfils this emerging demand of the new normal. Leading hospitals and diagnostic centres such as Breach Candy Hospital and Jaslok Hospital, have all been able to streamline their operations during this time with the power Augnito.