Mint Health Summit: Trust imperative despite data proliferation in healthtech

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how to make prescriptions online. Periods such as the covid-19 pandemic have ensured adoption of technology by traditional stakeholders of the healthcare ecosystems. Trust building will happen with time—neither can doctors exist in silos, and nor can digital health-tech firms.

But digital adoption is clearly happening," said Gautam Chopra, chief executive of BeatO. 1mg’s Tandon also concurred that data proliferation has already begun. “The data game has just started, and this is a space where India’s isn’t copying global models—we’re creating our own data-based AI/ML models based on our own needs, to create a better healthcare experience for patients that are personalized, preventative and predictive," he added.

Tandon referred to the past decade for the health-tech sector as a period where the ‘plumbing’ was built and reinforced. All of this has led to a significantly larger opportunity than previously expected by health-tech entities, said Ashish Venkataramani, partner at venture capital firm Eight Roads Ventures. “A $250 billion market seems too small—the larger healthcare market is what healthtech should focus on.

This gives health-tech firms the potential to grow 2.5x to $500 billion by 2030. Segments, including pharmaceuticals and med-tech, are all seeing double-digit growth driven by technology, and are solving for better clinical outcomes, patient experiences, access to healthcare and lowering healthcare cost." This offers “immense" opportunities, Venkataramani said. “The problems are very real, and tech and data can play meaningful roles to address all of this.