myHealthvalet is promoted by Hygeia e-Services Pvt Ltd., a health care technology company. The genesis of Hygeia arose to be the change agent, for enabling end to end cohesive health care and thereby make a difference in the lives of people. We are passionately committed to make the user be at the core of the healthcare ecosystem and significantly disrupt the current model upside down using innovation and technology.
Hello, please walk us through your entrepreneurial journey and background before you started? Any interesting stories.
I had always wanted to do something on my own and after 10 years of corporate life I decided to take the plunge. Gowtham, my close friend joined me in this endeavour and although our first start-up initiative failed we never winked before we got on to set up the current venture 3 years ago. The initial focus was on EHR (Electronic Health Records). I bought a two-wheeler and we met 200 doctors across the nook and corner of Chennai to pitch our product to them on how they can service their patients much better for both the health conditions as well as build a relationship digitally. But this model failed. So, we did a pivot last year and launched a proprietary Health Index to corporates. Our Health Index, which was designed taking inputs from physicians and statisticians, is an indicator based on a multitude of factors will enable corporates to immediately understand their employees’ health quotient. The index based on various factors also provides for each employee or user, insights into their relative health vis-a-vis similar groups in terms of age, gender and underlying conditions. This can be done at the aggregate level as well. Apart from this, we have modules developed for the user (both browser and android), doctor, clinic, diagnostic centre and pharmacy. All these are integrated to form a health care hyper loop.
Tell us something about founding team?
Gowtham and Ranjit each hold 50% of Hygeia e-Services Pvt Ltd, the company that owns myHealthvalet. We are completely bootstrapped and have recently raised a small round through a convertible note from a HNI. Gowtham and Ranjit are Alumus from IIMA and have close to 2 decades of work experience in India, Middle East and Far East. Gowtham is an ex banker and has product/process experience. Ranjit’s experience is in start-ups and Sales and Marketing. He is also a practicing Psychotherapist, Fellow and Educationist.
Tell us little about your product/ platform
We connect with Health Care Service Providers and do the complete end to end health care service for corporates. We focus only on the manufacturing sector and we also have a panel of doctors on board consisting of various specialties as well as Occupational Health doctors who can do the certifications among others.
myHealthvalet’s unique and innovative solution addresses the H&P (Health & Productivity) challenges faced by corporates:
- Our proprietary Health Index (to be patented) provides insights into the relative health of the employee vis-a-vis similar groups in terms of age, gender and underlying conditions.
- Gain insights into the health risk profile of the employees based on high, medium and low and the necessary interventions that are required based on job function/department.
- By monitoring and managing the health of the employees on a consistent basis, the productivity levels increase, absenteeism and presenteeism decreases.
- The ROI can be upwards of 300%.
- Our health index scorecard can be used as a marketing tool when positioning the company to your prospects.
Tell us about your customer traction
Currently we have the world’s largest industrial gases transnational company on board. We are doing a specific project on Sleep Apnea and have screened and certified 1000 of their drivers (who transport industrial gases) spread across 21 locations in India. We have conducted many pilots at other manufacturing companies and are due for engagements with them shortly.
How has your association with IBM helped you differentiate and grow?
Since we deal with health data of the clients which are very sensitive in nature, we have always gone in for the best product/service even though we are a start-up. IBM has helped us to let our clients know that we have gone in for very reliable services in terms of availability, response times and security of our online application.
What role does a strong technology platform play in your product/solution and how has it helped you differentiate?
We believe the tech platform is the core for our business as we want to be the Uber of Health services to corporates. Also, we need to get into analytics and machine leaning in the future and we feel that IBM BlueMix would be able to help us out immensely in this.
What is your road ahead for your start-up?
We want to be the No: 1 Health Care services company in the markets and sectors we operate in. We believe we have a head start on this.