Basys.ai, a healthtech start-up which began its journey at Harvard and claims that its own technology will enhance the clinical decision-making process of doctors regarding your patients’ metabolic condition.
The company has begun discussions with health providers in India and Singapore to establish the platform within these two markets. It’s betting on Indian Government’s Ayushman Bharat Digital Mission, which is designed to connect the digital health systems of hospitals across the nation. This program will allow the consent-based sharing of patient data with physicians in any hospital within India.
We are looking forward to going to India because we believe that this (the global electronic health records framework) is likely to become an actuality in the coming five years. In the beginning, it may not be financially viable or we might lack the resources needed however we are excited by the scale that we could reach in the market, Amber Nigam, Co-founder and CEO at Basys.ai is interviewed by Business Headers
In the year 2019 around 77 million people suffered from type-2 diabetes across India. Since one out of three adults in India currently is suffering from metabolic syndrome, a group of diseases that can increase the risk of developing the cardiovascular disease known as type-2 diabetes it is clear that there is a huge amount of these illnesses in India.
Amber states that Basys.ai may launch its platform in India in the coming months, based on the amount of assistance it receives from prospective investors.
As the construction of the health records system universally accessible is in progress across India, Basys.ai plans to collaborate with hospitals in building their AI (artificial intelligence) capability. The company is currently only in operation only in the US.
The Origin of Basys.ai
Amber was introduced to her partner in business Jie Sun while attending Harvard’s health data science program. When they discussed ideas in the intersection of healthcare and data science and healthcare, they decided to work to improve the metabolic health of patients and focused on diabetes.
Amber Amber his battle against diabetes type 2 is personal to her as his father was afflicted by the condition.
The co-founders of the venture launched it in the year 2020.
Basys.ai has won numerous competitions , including those of the MIT (Massachusetts Institute for Technology) 100K Accelerate competition and grants from organizations like the Harvard Innovation Lab from Harvard Innovation Lab and MIT.
The healthtech company has secured its first client which is the world’s largest diabetes research center. Basys.ai promises to make over $1 million through the five-year contract.
As part of the agreement, Basys.ai would work with the diabetes center to track, monitor and devise strategies for other metabolic health problems, including heart and kidney diseases. The company is working in conjunction with the center on all aspects of diabetes-related diseases.
Basys.ai’s AI technology is a proprietary one
Basys.ai is based on three primary sources of data to monitor the health of patients historic data on patients, the glucose levels obtained from glucose monitors, in addition to other health indicators that are gathered from devices as well as inputs fed manually by users. Basys.ai assigns little importance to the third source since users are more likely to be biased when feeding their personal data.
The healthtech company is currently awaiting approval of its patent application in the field of AI technology.
The startup blends information from data from the EHR (electronic health record) information with health metrics gathered by users’ devices to assess the risk profile of users, present the data to doctors, recommend tests, and recommend treatment strategies.
We find patterns in the data that is available about patients within the electronic health record (EHR). After we have obtained this information then we perform the pattern-finding process and categorize the patients into risk groups, says Amber.
After the risk profile of users is completed, Basys.ai defines different diagnostic tests that patients are required to take , along with the frequency that they are required to be administered.
For example If a person planning to take the test for diabetic Retinopathy (a disease which affects the eye) the platform could suggest that they take the test every month, twice in three months or once every six months, or in the event that an annual exam is not enough.
Let’s consider the instance of someone suffering from diabetic neuropathy (a kind of nerve damage that may be caused by the condition of diabetes) also known as diabetes nephropathy (a condition that could lead to kidney damage and elevated blood pressure). The platform will be able help to determine if patients are eligible for further tests, such as ECG (ECG) or an examination of renal function because diabetes can cause the loss to function of the internal organs.
What is the function of the platform
There are two kinds of users on the startup’s platform: doctors and the providers. At present, the startup is focused on doctors.
Amber claims that the platform gives the information of patients including their past and present health condition, as well as the next steps they should take, to doctors through the dashboard.
Amber states that doctors typically take between 15 and 20 minutes to look through the patient’s medical records to identify their issues and recommend treatment plans for them.
The doctors attempt to understand the information (from EHRs) EHRs) as efficiently as possible within a short amount of time. Also, EHRs are like messy notebooks in which doctors have to open several tabs in order to find the patient’s details. They could be tempted to take shortcuts while reviewing the information which can be harmful for patients. Amber warns. Amber.
The difference is that Basys.ai utilizes AI to give the health status of the patient and an actionable list of points which doctors can use, adds the co-founder.
At present, using the platform is currently not available to patients. Once they’ve signed-up to the platform, they’ll be able to connect their glucose monitor. The data that has been collected will automatically be loaded on the platform. Users are also able to link their smartwatches with the platform.
In addition to the level of glucose, this platform tracks other vital information to give an overview of an individual’s metabolic health. This includes blood pressure heart rate, blood pressure, physical activity performed during the day, calories burned as well as resting heart rates and heart rate variations in the case of people using devices for monitoring these metrics.
The platform analyzes the data to determine whether the diabetic condition improves or is not.
People who don’t use any gadget to track their glucose levels can choose to enter their data manually.
So so far we’ve been working to make it more provider-centric so that doctors are able to recommend the platform to patients. When doctors recommend itto patients, either patients or relatives download and use the platform, says Amber. The company is also working to figure out whether it is able to launch B2C (business to consumer) platform launch.
For healthcare facilities, Amber says Basys.ai would aid in increasing their revenue and lower their costs. Under the value-based delivery of healthcare model, when hospitals improve outcomes for patients receiving treatment they can expect higher payouts from insurance companies. For example when they lower the rate of readmission or reduce the number of patients transferred from primary health care providers to specialists the hospitals will receive reimbursements from insurance companies, the doctor says.
Based on the fee-for-service model (where doctors and other healthcare professionals receive a fee for each service rendered) doctors would be able treat more patients within a particular time frame.
The road ahead
In addition to developing an B2C service for people in the US the company is also focusing on mental health.
The next step for us will be mental health. But we’re still not there. It’s part of health and metabolism, but it’s an entirely different ballgame, says Amber. The company is also in talks with a handful of health centers in the US to form similar partnerships.
The two Amber along with Jie have put aside their savings to fund their company, along with the funds they’ve earned through competitions and grants. Basys.ai is currently talking to investors to raise capital for the initial phase. The healthtech startup is working on expanding its products and its customer base to reach clinical validation across the globe.