'Healthcare set to become more personalized'

Amitoz Singh, founder & CEO at Nirvasa Healthcare, a healthcare startup, talks about the ecosystem and the trends that will shape it in the future. Excerpts:

The coronavirus pandemic brought about a paradigm shift in the focus on health and wellbeing. The year 2020 witnessed significant advancements in the healthcare space, with increased scrutiny and attention given to this field.In response, healthtech startups that leveraged technology and data emerged, targeting lifestyle diseases, diabetes, hypertension, and mental health issues.
Through the integration of innovative data analytics, knowledge, disruptive technologies, digitization, and virtual consultation from health experts, these startups created a connected and holistic ecosystem that made quality healthcare solutions affordable and accessible to people from all walks of life and geographic locations. By leveraging artificial intelligence (AI), machine learning (ML), and data analytics, these startups also offered financial solutions for healthcare needs, linking individuals with hospitals and facilitating the seamless manufacturing and procurement of medications.

The Covid pandemic exposed shortcomings in the traditional healthcare system and led to a rise in health consciousness. The adoption of technology was accelerated by social distancing and lockdowns, fueling the growth of healthtech startups. These startups prioritize preventative healthcare and disease management, in contrast to the traditional approach of treating ailments after they have already developed.
Accessibility to healthcare remains a significant issue in many parts of India, but startups are playing a crucial role in addressing this gap. They offer efficient, affordable, and high-quality healthcare technologies that can be scaled quickly, allowing people to access expert healthcare from the comfort of their own homes. This convenient and affordable approach was previously unavailable.

Millennials and Gen Z are increasingly using health tech and fitness tracking devices due to their preference for convenience and 24/7 access to information. They find it easier and less time-consuming to connect with healthcare providers online and can consult doctors from anywhere. This eliminates the need for travel or long waits at the clinic.
These consumers are also more comfortable discussing their health issues on video chats and prefer accessing test results online or via mobile. With many spending over eight hours a day on devices, this trend is expected to continue.
Additionally, they prefer booking, canceling, or rescheduling appointments online, as it is faster and more convenient. Consumers today demand simplicity and ease of access in healthcare, similar to the convenience they experience in other industries like online ticket booking and airplane seat selection.

The healthcare system of the future will be marked by groundbreaking discoveries and innovations. The global market for AI and ML in healthcare is expected to reach $20 million by 2023. AI has already been successfully used to identify and treat neurological disorders like Parkinson's and Alzheimer's disease. Additionally, the future will see a surge in remote healthcare options, such as virtual hospitals, healthcare communities, and telehealth. The pandemic has accelerated this trend, as many people have found remote consultations to be more efficient and cost-effective.
Moving forward, healthcare will become more personalized through precision medicine. This approach involves customizing medications and treatments to specific patient groups based on factors like age, genetics, and risk factors. Patients will have greater control over their care, including the ability to choose how and where they receive treatment. This requires creating personal treatment plans based on their individual preferences and beliefs.