eClinicalWorks, a US-based healthcare IT solutions provider recently announced a $30 million investment to further digital healthcare in Asia, specifically India and other countries in the region. Aakash Shah, Director – Sales, International and India Market, eClinicalWorks shares more details of this investment, the company’s offerings for India, their strategy for the Indian market and more, in an interaction with Lakshmipriya Nair
Tell us about eClinicalWorks’ offering for the Indian market? How has it been customised to suit the Indian market?
What are its USPs? How is it different for its counterparts?
The biggest differentiator for eClinicalWorks is the extensive functionality that has been built into its solutions at an affordable price. For years, we have rolled out technologies to the healthcare industry which has solidified our position as a true thought leader. Now these path-breaking technologies are being brought into the Indian market under one integrated, cloud-based platform. eClinicalWorks is the only one which can provide 360 degree services with seamless integration to all the different components involved in delivery of healthcare in India, including the patient community. For example, hospitals can electronically manage their different departments (OPD, IPD, OT, Billing, Lab/ Radiology, stores, pharmacy, etc.) under one umbrella without requiring any paper records. At the same time, clinicians can truly access pertinent patient information anytime, anywhere and deliver services through a telehealth platform to remote patients. Patients can also be directed towards a mobile app that will enable them to view and manage their medical records. Until this point, receiving all these benefits at an affordable cost has been unheard of in the Indian healthcare market.
You are planning to invest in the Indian market. What all would it entail? What are the focus areas?
This investment will lay a technology foundation for healthcare organisations to help meet their goals, with a major focus towards building a robust and secure cloud infrastructure for customers in Asia, especially those in India. This infrastructure will be replicated in all the key geographical locations of India to provide a fast, reliable and consistent service to across the country. Apart from this, we will strengthen our workforce to provide world-class service to our Indian customers.
How have you raised these funds?
eClinicalWorks is a completely private and independent organisation, with no outside investors and zero debt. This gives us the flexibility to invest in areas where we see great potential benefits, using our existing funds. eClinicalWorks revenues this year is expected to cross $400 million. We have had 60 profitable quarters. We are a private, independent and a very entrepreneurial company. We have been investing in R&D and new market strategies over the last 15 years. Our investment in India is to transform healthcare delivery using state- of-the-art technology.
What are the opportunities and challenges that India offers in the healthcare IT space?
With the recent Digital India initiative as well as the smartphone boom during the past few years, India stands at an interesting juncture where the healthcare sector is lagging behind other areas in terms of technology adoption. This is exactly where we see opportunity. With the average age of people in India being 26, a large portion of the population is tech savvy and demanding smart services from the healthcare providers and, at the same time, physicians are looking for better technologies to provide more informed decisions for patients at the point of care. Though there are challenges in terms of the existing Internet infrastructure and processes still mandating a lot of paperwork from healthcare institutes, we see a change coming through in the next two to five years with the Bharatnet project establishing optic fibre pipeline throughout India and the health department working towards a policy to define electronic patient records for Indian users.
What is your strategy to penetrate the Indian market and leverage the opportunities?
Our strategy for India is simple – to provide a technology at the point of care (for hospitals, clinics, diagnostic centres) which is smarter, faster and more convenient at an affordable cost.