For Indian tech startups, Obamacare mean big bucks as 45 mn Americans pick health covers
Thursday, August 15, 2013
BANGALORE: A number of young Indian companies that make specialised software and analytics for global healthcare providers are recording a sharp upswing in business as millions of uninsured Americans enrol in a new healthcare system.
These firms provide data analytics, create and manage healthcare exchanges, electronic health records and help process claims and sell insurance as US companies prepare to adopt the Patient Protection and Affordable Care Act, otherwise referred to as Obamacare after President Barack Obama, that comes into force on January 1, 2014.
Chennai-based SCIO Health Analytics, Noida’s hCentive which designs insurance policies, and cloud technology provider SmartRx are some of the firms gaining new customers and support from investors.
“We earn revenues by giving our clients a fishing rod or teaching them how to fish and sometimes catching the fish ourselves,” said Siva Namasivayam, chief executive of SCIO Health Analytics.
The five year old company provides insights to insurance firms that help cut costs and tailor products according to the needs of the consumers.
SCIO, co-founded by Namasivayam with ex-colleague Krishna Kottapalli and a batchmate from the NIT Trichy, Karthik Krishnaswami, has recorded a near four-fold rise in revenue and aims to earn Rs 300 crore this fiscal, as demand for its services grows rapidly.
- Health Care