The US healthcare market is poised for a tech fuelled growth from $3 Trillion to $6 Trillion in less than a decade. We are experiencing the intersection of Moore’s law and medical advancements where massive economies of scale in devices and data are about to happen. Physician investor groups can play a key role in these paradigm shifts- while technologists can apply solutions to problems, the problems of the current system can be best formulated by physicians, providing a much needed vantage point for innovation. They can be a great platform to vet ideas, meet fellow entrepreneurs, prospective customers and partners.
iMedrix is a cutting edge mobile health start-up borne out of our incubator at Global Technology University. For iMedrix, Yatin and Raman have been major benefactors and they share a common interest with us in exploring the frontiers of Digital Health. They have provided hands-on guidance on the utility of our products, guided us through COVID-19 strategy, connected us to numerous prospects and facilitated entry into major healthcare companies. This has been an extremely synergistic partnership that goes beyond just investment.
Healthcare ventures go through many issues such as EHR integration, workflow optimization, HIPAA and other certifications, purchasing organizations etc. This collaboration can expand to scouting and vetting other technology ventures in healthcare as well. Together with Yatin and Raman, we have explored quite a few early stage ventures as a collaboration of medical and technology experts. We have also added a US based manufacturer, Unigen, to our discussions so that digital health ventures with a device component can get a single streamlined perspective from all aspects of their business.
For digital health start-ups, a physician driven investing platform has a unique value proposition. The nuances of healthcare delivery can only be properly understood by engaging subject matter experts. As Yatin and Raman have shown us, physicians can provide insight at every operational step of the business by tapping into their own knowledge and connecting with the right experts as needed. They are also well versed with technology, strategy, finance and business development aspects of start-ups – this helps us advocate from the engineering side and engenders deep discussions. For a founder of a start-up, collaborating with like-minded and smart investors is just as important as funding. And this partnership with physician investors is the smartest money iMedrix could have found.