The Indian healthcare industry is the fastest-growing sector that will reach $133.44 billion by 2022. The pandemic has acted as a catalyst in adding digitalization to our healthcare. Another reason that sped up the digital adoption is the large user base with mobile phones. Till now around 155% increase in acquisitions and mergers are done in the hospital sector. This too has promoted the advancement of technology in hospitals and especially in hospital management.

One Bangalore-based company that provides AI-driven electronic media records (EMR) and clinical documentation is Bionworks Technologies. The venture was started in 2016 by Chandrashekhar BC and Clement Jeyaraj with the aim to bring a difference in healthcare operations by leveraging digital technologies and AI innovation. It offers mobile-based solutions to secondary and tertiary hospitals to strengthen their productivity and administration process effectively. 

They provide features like team messaging, mobile-based EMR, referrals, discharge process, patient engagement and more. Their product Healthplug is a multilingual patient engagement app that includes SmartConsult, Healthplug FrontDesk, Healthplug PX, Healthplug CMR, Healthplug MD and more. It aims to improve staff collaboration, make automation possible and increase patient engagement. 

They have received numerous awards from India and abroad regarding their product. They were able to earn more than $1 million in revenues in their 4th year while remaining bootstrapped. This April, an NYSE listed human data sciences market leader, IQVIA, acquired Bionworks. Their clientele includes Artemis Hospitals, Emirates Speciality Hospital and Medanta Medicity. They have entered geographies like the Middle East, South East Asia and the UK. 

They now plan to enter the USA, Singapore and other markets. The global Hospital Information System (HIS) market is estimated to reach $48.35 billion by 2027. Will Indian Bionworks be able to gain a share in the international market as they wish to expand its geographical penetration?