What developments do you foresee in the health tech space for 2021?
Telehealth and telemedicine have been around and widely discussed for many years, but it took a global pandemic to take them mainstream. While approved vaccines are being administered around the world, including in the UAE, telehealth will continue to deliver innovative solutions to address numerous concerns of various stakeholders in the industry.
Telehealth to grow: According to Frost & Sullivan, the UAE telehealth market is expected to reach more than $536.5 million by 2025, growing at a rate of 25 percent from 2020-2025. Areas of interest include telemedicine, virtual care, m-health and remote patient monitoring.
AI and ML: Health data is growing larger with providers and payers digitising their records. AI and ML will form the basis to analyse and assimilate the vast data to enable better, faster diagnoses and has the potential to monitor patients remotely and treat the elderly.
Mental health: The past few years have seen great strides taken in the acceptance of mental health as an illness rather than a taboo in the region, though much still needs to be done. The pandemic forced many people into isolation at home with little social interaction. This is especially hard for single, young workers, as well as the elderly and medically vulnerable. Telemedicine would be a boon for those affected the most, providing them with an outlet to seek professional help.
While there are many drivers for the growth of telehealth into 2021 – including 5G, AI, ML, Wi-Fi 6 and Covid-19 – we aren’t sure of the extent to which they will affect the health tech space this year. What is certain is that all the sustainable ideas coming out in the near future will be focused on providing a better healthcare experience for all stakeholders in the industry.
How did the pandemic encourage you to fast-track your plans in 2020?
We quickly discovered the platform, which helps patients find doctors and book appointments online, would address several challenges for healthcare providers and insurance companies. Telemedicine was the next step in the evolution of Okadoc and was scheduled for a late 2020 launch, but the pandemic created a greater sense of urgency for patients to connect with their doctor remotely and receive the necessary care they require, so we successfully brought the launch forward to May 2020.
Our key differentiator is that patients can virtually connect with any doctor they wish to consult who is available online. The system also enables access to specialists, helping providers expand access to niche consultants on their rolls. Primary care doctors can conveniently consult specialists on a case-to-case basis, while patients get access to medical specialists irrespective of their location.
We want to be present where the patients are: mobile, desktop, healthcare provider and health insurance provider apps. In 2020, we strategically partnered with a leading healthcare insurance provider, and now its members can identify the providers covered in their network and choose their doctor depending on location, specialisation, gender, language spoken and availability.
What new offerings will you launch?
Our focus remains improving healthcare experiences for all. We strive to develop, test and introduce features on our platform that address the challenges faced by patients, doctors, healthcare providers and insurers.
In terms of market expansion, we’re introducing the Okadoc platform and white-label solution in the regional market, and the new year will see some important announcements to this effect.
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