Ibahealth, Australia’s largest healthcare IT Company started its India operations on March 30, 2006 in Bangalore. With its recent acquisition of the innovative healthcare solution company Medicom, ibahealth starts with 150+ staff on Day 1.
I view the next wave of growth for IT services in India through “domains” – automotive, telecom, banking & financial services, tourism, hospitality, industrial automation … AND healthcare. Naturally, I am excited with ibahealth setting up shop in India.
Healthcare is one industry whose health is always “pink”; when everyone is sick, healthcare will be growing; and when everyone is fit, it just becomes fitness industry!
India is accepted in the world for its IT prowess; Indian doctors are generally well-received around the world. It is time we combine IT and healthcare to kick-start the next growth engine.
I am familiar with Medicom, thanks to their innovative solution powering such hospitals such as Satya Sai Hospital in Bangalore; in a quick look at ibahealth web-site, I found healthcare-specific workflow. I always felt workflow would fly, only if it is aligned to a specific application segment. Healthcare being an inherently people-centric service – doctors, nurses, para-medical staff, drug delivery and diagnostic experts – workflow in healthcare would be a big hit; it will help us to build a patient-centric hospital as opposed to equipment-centric hospitals we built in the yester-years.
Operating in India, ibahealth should move beyond “best practice” to “next practice” – a term coined by Professor CK Prahalad of University of Michigan – with whom IIIT-B has special association. India is one country that can bring about 10-fold cost reduction – not 10% – as experiments like Jaipur Foot and Arvind Eye-care have proved. As Devi Shetty of Narayana Hrudayalaya would put it “healthcare if not affordable is not available”. We need to engage in models of dramatic cost reduction, if we are to take healthcare to ALL Indians.
Finally, as Mahatma Gandhi would often remark, providing healthcare would be satisfying – the satisfaction that we bring to a patient, often silently expressed as a thankful glance from the eye of a cured patient, not even well-articulated – is worth far more than millions of dollars!
I wish ibahealth (and “Medicom Inside”) the very best in the years to come
(Keynote Address given on March 30, 2006 at Bangalore at ibahealth India launch)