Hyderabad: Current health care systems, both in the public and private set up, are heavily focused on reactive care and episodic treatment. There is less emphasis on preventive, primary and continuous care, which is required to manage long-term clinical and behavioural modifications necessary to manage chronic conditions and reduce long-term health costs for individuals and health systems. Hyderabad-based NanoCare Health Services, which operates from IIIT-H Campus, has taken on this challenge of finding solutions to tackle several health issues including that of non-communicable diseases (NCDs).
NanoCare leverages a combination of community health workers called “Health Coaches” and a proprietary technology platform to facilitate early diagnosis and continuous management of chronic NCDs such as diabetes, obesity, thyroid and hypertension. The company wants to position itself between acute and wellness care.
The company has created a blockchain-powered ecosystem, which not only allows users to save their medical data secured but also enables use of a token system that rewards people for their activities which they can exchange with healthcare services by different service providers including diagnostics, pharmacists, clinical physicians, nutritionists, specialists and insurance companies. The platform is soon adding wellness providers. The company today has ties with 130 service providers.
The NanoHealthCare Token (NHCT) ecosystem is designed to make it easy and rewarding for an individual to stay healthy and fit. The system allows a user to safely and securely store medical data, get personalised health and wellness services and also get rewarded for excercising and getting medical checkups regularly.
The company today serves 75,000 users. It has also executed projects run with Telangana government, insurance companies and other corporates. By second quarter of 2020, the company is targeting to serve 10 lakh users, Siddu Zalaki, VP-Strategy, NanoCare Health Services, told Telangana Today.
“We are also working with corporates to understand the health profile of their employees so that the corporates can take measures to ensure better employee health,” he added.
Explaining the concept, he says, “We don’t want people to be passive recipients of treatment and care. Our integrated solution helps them own their health and lead a healthier life. NCDs are responsible for two out of three deaths worldwide. Premature deaths can be prevented by timely diagnosis, continuous monitoring, and effective management of health. We also reduce instances of emergencies and hospitalisation by preventing or delaying the onset of chronic diseases and its risk symptoms. Our healthcare model stratifies health of individuals based on predictive algorithms and gives them an opportunity to intervene early and manage chronic conditions better. We focus on three models- individuals, clinic and corporates.”
The company made history by becoming the first Indian team to win the Hult Prize 2014 out of 11,000 applicants worldwide. The company raised $1 million through it. It continues to be supported by Hult Foundation. NanoCare is planning to raise $9 million by November-end. Talks are on with the potential investors.