Tech-enabled healthcare is the present and the future of our society. Concurrent advancements in communications, information and digital technologies have far-reaching applications in different functional areas of the healthcare sector.
It has helped in optimizing the resources, digitalization of the entire process, fast and versatile communication, and offers higher control with accuracy to the medical professionals. In short, it is rapidly transforming so far scattered healthcare industry into an integrated health-tech ecosystem.
Similarly, JVS Technologies Pvt Ltd is transcending healthcare organizations into futuristic wellness brands with its innovative tech solutions under the guiding light of Saket Singhi, the Founder and Managing Director.
Headquartered in Ahmedabad, Gujarat, the company offers customized solutions in hospital information systems, electronic health records and electronic medical records, with more than 18000 physicians using the applications having more than four million registered patients across 45 countries worldwide.
In an interview with CIOLook India, Saket shared his experience, professional journey with JVS Technologies, and challenges he tackled successfully, further elaborating on the objectives and vision for the future.
Following are the excerpts from the interview.
Saket, please brief our audience about JVS, its USPs, and how it is positioned as one of the best MedTech Providers, today.
The company was founded in 2002. It’s been a challenging journey, as in 2002, there was no matured market in India in Healthcare IT. Being a 100% product-based company made it more difficult for us as we were walking a lonely path. But JVS team worked hard to develop the market.
With our unique approach to providing integrated Healthcare IT solutions, JVS provides one solution that includes all the hospital system’s basic functionalities, mobile apps, patient portals, and patient health management apps.
Having well-established products being used by clients in more than 35 countries, JVS has clients from war-prone countries like Palestine, Afghanistan, Somalia, and developed countries. Since 2007, JVS has been an official partner of the Cardiological Society of India in successfully running the National Interventional Council (NIC) – Clinical Data Registry.
JVS provides one solution that includes all the hospital system’s basic functionalities, mobile apps, patient portals, and patient health management apps. Very few companies in the world provide an all-in-one application for the Healthcare Industry.
Our experts comprehend all fraternities from the Medical vertical, which includes MBBS and MDS, to specialists and surgeons and all people working under them, from receptionists to nurses. It also covers the Account and Billing discharge departments.
Tell us more about the offerings of JVS and what aspects make it stand out in the cutthroat competition.
We are among the best as our focus is to save paper and money. Hence, we encourage doctors to go digital from anywhere and help patients at their fingertips. We are not in competition with anyone; we work towards making the MedTech world digital by taking feedback and suggestion from our clients and improving our products and services.
Currently, we are offering sign-ups of 1000 free wallet credit for OPD for the first 1000 clients and LAB 1000 free wallet credit for the first 500 Lab only. The company’s flagship product – SoftClinicGenX- is Intelligent Hospital Management Software, which assists healthcare providers in gathering, organising, analysing, and managing patients’ health and financial data for the healthcare industry, which ultimately supports better decision-making. JVS takes pride in connecting more than two million patients worldwide to digital health.
JVS has some of the world’s largest consumer brands as clients, including Fortis Hospital Group, Apollo Hospital Group, Kokilaben Dhirubhai Ambani Hospital and Asian Heart Institute. Headquartered in India, the company feels its presence in cities such as Ahmadabad in India and New York, the USA, from overseas. SoftClinic not only complies with the various international standards such as HIPAA, HL7, and ICD-10 but is also a browser-based and App based solution.
Please shed some light on your journey in leading JVS to excel in this industry.
I was born in Rajasthan. Later, our family shifted to the United States, where I finished my schooling. Eventually, the love for the country brought us back to India. And I finished my master’s from Sukhadia University in Udaipur. Soon I started working for JVS Group.
Back then, the focus was on just creating a product-based technology company that empowered healthcare businesses to do more with less. I am an entrepreneur with a broad base of experience in IT product development and marketing functions. My primary areas of expertise are in Healthcare IT.
In addition to the extensive experience running a product-based IT company, I have demonstrated a strong ability to incubate and build new teams and functions, resolve business issues quickly with innovative processes, technologies, and leverage existing investments to develop new business solutions with significant results and minimal investment.
My love of technology, coupled with a clear understanding of- and empathy for the business, has High-launched multiple successful healthcare IT products SoftClinicLegacy, SoftCath, JVS- DiComPlus, OncoSoft and SoftClinicGenX many more.
Over the last 17 years of operations, we have achieved much more than that–we have created a sophisticated product-based function that solves real-world problems for healthcare companies, leading the market in innovation and customer service, and becoming the launchpad for high workplace standards.
Being an experienced leader, share your opinion on how adopting modern technologies like AI and ML impacts the MedTech space and how JVS is adapting to the change.
JVS Technologies is working on artificial intelligence (AI) and ML to make the software smart enough to reduce the physicians’ workload and help them in decision making, which will reduce the instance of medical errors. On the patients’ side, JVS envisions offering innovative health applications to help patients connect with their physicians via smartphones and open a channel for the doctor to do e-consultation.
This will save significant time for patients and physicians by cutting down the travel and waiting time for follow-up appointments. Like any other organization, the proper functioning of a Digital Healthtech platform is highly dependent on management. With volumes of data to analyse at hand, AI can fill the loopholes, automate tasks, prevent care gaps, and improve the process.
Introducing big data analytics and artificial intelligence (AI) makes our software smart enough to reduce the user’s workload and increase accuracy. It has launched an integrated and scalable Digital. Healthtech platform for physicians, clinics and hospitals covers most healthcare IT areas.
Considering the current scenario, what initial challenges did you face, and what are the challenges now that you must overcome?
A few years back, very few investors were willing to invest their money in IT product companies. I am glad that the situation in the Indian IT market has drastically changed in recent years.
With the JVS team’s dedicated efforts, we have created a market over these years, and now more and more physicians are willing to maintain patients’ records in electronic format. Another of the biggest challenges of JVS was the unregularized market of Healthcare IT in India. As 90% of the global Healthcare IT spending is targeted towards the US, its SoftClinic product initially grew slower.
However, in the past three years, its growth has catapulted off the charts, and by the end of 2020, the company expects to double its customer base. Healthcare Industry has started supporting our vision of providing good clinical software solutions to healthcare professionals to encourage patient clinical data management and research. To overcome these obstacles and fuel the company’s growth, we are expanding our business in other developing counties in the Middle East, Southeast Asia, and Africa.
With Legacy clients who are on the desktop version of our software, we are moving them to a web-based version, and they are happy with our support and Customer Service in India and our international clients.
What would be your advice to budding entrepreneurs who aspire to venture into the MedTech space?
The best advice for any health-tech entrepreneur would be to know your interest area first. If you love healthcare and IT, you only should get into the healthcare-tech industry. However, if you dare to dream, you can observe your surroundings and pursue your dreams. With consistency, you are surely going to become successful.
Whether you are starting with a team of co-founders or as a bootstrapped company run by a solopreneur, make sure you invest in a good team. I can understand the attraction of being the lone hero of one’s success story. Study current Market and competitors, check who your end-users are and where you see your product success in the near future.
How do you envision scaling JVS’s operations and offerings in the future?
JVS is looking forward to accelerating the growth rate and expanding its business in other parts of the world. JVS is working towards making all products multilingual and mobile compatible, which will help us reach healthcare professionals in all non-English speaking countries and all mobile users.
With the core vision of providing innovative healthcare IT products to enable patients to take control of their health, JVS will be one of the leading companies in the healthcare IT space.
We also regularly participate in various international conferences that discuss the future of healthcare IT to stay relevant and keep us ready for the future. We aim to take the initiative towards saving the environment as 25 lakhs trees are cut annually for prescription paper and patient files in India, averaging five trees per doctor yearly!
A Visionary Leader
With a broad experience in IT product development and marketing functions, Saket Singhi, Founder and Managing Director, have repeatedly demonstrated a strong ability to incubate and develop new business solutions with significant results and minimal investment. His primary areas of expertise are building new teams and functions, quickly resolving business issues with innovative processes and technologies, and leveraging existing assets.
In addition to his extensive experience running a product-based IT company, his love for technology coupled with his understanding and empathy for the business gave him a unique ability to develop futuristic, technical solutions.