In this exclusive iPMI Global interview, Christopher Knight, CEO, iPMI Global, met with Madhur Srivastava, CEO at DocHQ. They discussed in detail the DocHQ journey, to revolutionise the approach to employee benefits, insurance, and healthcare through the lens of technology.
Please introduce yourself and background in the healthcare market:
My name is Madhur Srivastava, and I am the CEO of DocHQ, a health and wellbeing tech company designed to improve your health choices. My journey in the healthcare market has been driven by the desire to make healthcare more accessible, efficient and personalised.
My background in the healthcare industry is marked by a blend of technological innovation and strategic leadership. Over the years, I have focused on harnessing the power of digital solutions to address key challenges in the healthcare sector. This includes everything from streamlining patient care processes to developing cutting-edge technology like our flagship product, the DocHQ Physio AI tool, which revolutionises how physiotherapy is delivered and experienced.
At DocHQ, our mission extends beyond just providing digital healthcare solutions; we aim to empower individuals to make informed health decisions and to provide healthcare professionals with tools that enhance patient care. We believe that the right blend of technology and human expertise can lead to significant improvements in both health outcomes and patient satisfaction.
Our approach at DocHQ has always been patient-centric, ensuring that our solutions are not only technologically advanced but also intuitive and user-friendly. We've been working tirelessly to bridge the gap between traditional healthcare practices and modern digital convenience, ensuring that our services are not only accessible but also align with the highest standards of medical care.
In 2018, you embarked on a journey to revolutionise the approach to employee benefits, insurance, and healthcare through the lens of technology. This led to the birth of DocHQ, a platform initially designed as a user-friendly telehealth service. Fast forward to 2023 – who is DocHQ and what do you provide the global healthcare market?
DocHQ is your health and wellbeing partner. We believe that the most effective healthcare is holistic, addressing not just the physical but also the emotional and psychological aspects of wellbeing.
We cater to many different elements of healthcare, from remote AI physio to at-home health testing and travel health. Using the innovative technology at the forefront of AI, it harmoniously collaborates with human expertise to build a bespoke health programme like no other.
Physiotherapists and personal trainers meet with patients virtually before prescribing treatment plans that the patients can do remotely. Here, the AI and Computer Vision Technology assist them as they perform the exercises, offering real-time guidance and feedback to ensure optimal movement. This combines a data-driven approach that goes beyond simply healing to proactively prevent future issues.
This fosters a culture that seamlessly integrates fitness into daily life and helps promote and improve mental health, creating an environment where physical and mental wellbeing thrive, resulting in fit, healthy, happy and productive employees.
What are the benefits for employers that adopt the DocHQ AI Physio?
In today’s ever-changing world, employers need to continuously reassess their benefits offering, ensuring it aligns with the modern-day demands and holistic wellbeing of their workforce. DocHQ provides this and more.
Due to the fact that our service takes place entirely online, we reduce the need for employees to take time off work to travel to and from physio appointments, meaning their employees spend more time in the office.
That’s before you look at what happens if people don’t actually treat musculoskeletal (MSK) injuries. If they ignore them due to lack of time or motivation to fix them, it can lead to a spiral where the person becomes more sedentary due to increasing levels of pain. This lack of movement eventually culminates in a deterioration of their mental health, which can then lead to extended time off work. This spiral can be avoided by using DocHQ Physio to build strength and fitness while dealing with MSK injuries when they occur.
DocHQ also provides risk-based health screenings, which offer more advantages over traditional annual health checks. By targeting specific health risks pertinent to individual employees based on certain demographics, backgrounds, lifestyles and health histories, the screenings are personalised to each individual, and therefore more effective. Bespoke screening in this way is also more cost-effective for the employer.
What are the benefits for employees that use the DocHQ AI Physio?
For employees, there are multiple positives to using DocHQ Physio. Firstly, they are much more likely to stick to the physio programme and see the benefits. Most people who see a physio in person will do the exercises for a week or two and then lose motivation to continue, as no one is checking their progression, or they may be unsure how to perform the exercises, which is where our AI video guidance removes that barrier.
In contrast, up to 90% of DocHQ Physio users stick to the programme as they have tangible targets to hit, instant feedback from the AI technology as they work out, and the physio constantly assesses their online progress, making the exercises harder if they are finding it too easy. This means that they return to full fitness quicker.
Also, as the employee is moving regularly and building strength, it means they become less sedentary, improving their cardiovascular health as well as their mental health.
How can international health insurance companies realise the benefit of DocHQ?
One of the first and most important ways DocHQ can help international health insurance companies is by saving them costs. This is due to the fact that those who use DocHQ Physio will require fewer follow-up consultations and will recover more quickly due to our higher adherence rate. We also provide insurance companies with data that can help them improve predictions and more effectively calculate risk.
Secondly, as companies’ cohorts of employees age, it brings with it issues – not just MSK conditions and injuries, but also other long-term disease like cancer and diabetes. DocHQ can help reduce these claims and add value to companies by offering the opportunity to detect and prevent illness and injury while maintaining a healthy workforce as well as helping them recover if they do suffer injury.
This is achieved not just via our Physio service but also by offering our bespoke range of health checks to employees, which test everything from vitamin deficiencies, heart health and menopause, to conditions such as prostate cancer or bowel cancer.
Tracking employees’ health results in fewer claims and can potentially lower costs by 10%, while providing more to customers in terms of the service we provide. It really is a win-win situation – both for international health insurance companies and for their clients.
International health insurance companies look to increase the standard of care the patient receives, whilst reducing the bottom line. How can DocHQ assist?
Remote consultations facilitated by AI results in a significant reduction in overheads, along with a lower number of appointments, higher adherence rate for exercise and data-driven treatments, which all combine to significantly reduce costs for companies.
As mentioned earlier, this means their workforce is healthier and less prone to illness or injury, which reduces the number of claims they make, leading to bigger margins for health insurance companies.
Post Covid-19, how important is remote healthcare?
The pandemic accelerated the world’s digital transformation, underscoring the significance of data security, a human touch in digital interactions and the continuous validation of tech solutions, particularly in healthcare.
Remote work is now here to stay, so providers must prioritise these elements to uphold trust and ensure effective care in the new era. Remote and hybrid working is now standard practice, so looking after your workforce and ensuring they are healthy, happy and injury-free should be a priority for every company – not just in terms of reducing absenteeism, but also building team spirit and camaraderie when employees are spread across the country or even the world. This is something that DocHQ offers on many levels, through our Physio, Fitness and Health Check services.
Today, one of the big buzzwords in global health insurance is Digitisation. How important is digitisation to the insurers and the patient?
Digitisation is pivotal in health insurance, significantly influencing both insurers and patients. For insurers, tools like DocHQ Physio streamline processes, leading to cost savings and efficiency. They offer valuable data for predictive analytics, enhancing risk assessment and enabling tailored insurance products. Additionally, digitisation aids in fraud detection and boosts customer engagement and retention.
For patients, digitisation means convenience and accessibility. DocHQ provides easy access to healthcare services and personal health records. It enables personalised healthcare, especially useful in chronic condition management or rehabilitation. Patients gain empowerment through accessible health information, contributing to informed healthcare decisions. Moreover, digital tools ensure better health outcomes, offering real-time feedback and guidance for more effective treatment.
Last and certainly not least, looking 5 years into the future, where will the business be?
We’re working on exciting technological advances, including the integration of behavioural science into the DocHQ Physio AI system. This will include aspects such as how people’s voice and visual data can give clues to their mental wellbeing. Users can then receive specifically targeted nudges, which will lead to more positive health outcomes. It means that not far off in the future, the system will be able to sense worry or anxiety and respond empathetically.
By working within the realms of AI, behavioural science and healthcare and combining all three, we’re working towards a future where digital health solutions understand human health like never before, improving individual healthcare beyond anything you could imagine.