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KYT

Healthcare Data Monetisation and Incentivising Adherence

India
Market: Internet and IT, Medicine
Stage of the project: Prototype or product is ready

Date of last change: 30.04.2020
Min investment
$  100.000
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Total required
$ 125.000
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Idea

KYT Suite Services include "KYT Data" and "KYT Adhere" mobile applications.

KT Data:
"KYT Data" is arguably India's first healthcare data monetisation and market place.

KYT Adhere:
"KYT Adhere" is a digital therapeutic platform that incentivises treatment adherence.

Current Status

KYT Data - Aug 2019
KYT Adhere - Apr 2020

Market

> Indian Chronic Diseases Management Market Size -Expected to grow at a CAGR of 17.5% By 2023
> Increase in Medication Adherence in Chronic disease by 10% - Can result in USD 8.5 billion in additional drug sales by 2024.[2]
> Indian Diabetes Market Size - Expected to grow from USD 4778.7million in 2016 to USD 7441.6 million in 2023
> Indian clinical Trials Market Size - Expected to reach USD 3.15 billion by 2025
> Global Remote Patient Monitoring Market size - Expected to grow from USD 703 million in 2015 to USD 2,130 million by 2022 at a CAGR of 17.0%
> Global Digital Therapeutics Market Size - Worth USD 7.83 billion By 2025

Problem or Opportunity

Problems being tackled by "KYT Data":
> No India specific repository of COVID-19 patients
> No incentive for patients to share their health data
> Regulatory issues in data sharing
> No portal for COVID survivors to volunteer for research

Problems being tackled by "KYT Adhere":
> India has the highest burden of both tuberculosis (TB) and multidrug-resistant (MDR) TB based on estimates reported in Global TB Report 2016
> Due to social distancing and non-availability of DOT (Directly Observed Therapy), TB treatment is getting compromised in India
> Non-adherence of anti-TB treatment will result in increased length and severity of illness, death, disease transmission and drug resistance

Solution (product or service)

KYT Data:
With the increasing importance of data ownership belonging to patients, patient's shared databases on their COVID status (positive/negative/recovered) can help govt. in not just real-time easy tracking of these patients, but also creating various policies and guidelines to contain COVID-19 infection. Our app KYT plans to incentivise patients to share their personal data, be it their geolocation or health records. We are of the opinion that facing such a pandemic, many members of the public will be willing to trade some measure of privacy to help efforts to contain this pandemic.

KYT Adhere:
"KYT Adhere" helps to improve patient adherence via AI enabled remote patient monitoring and Video Observed Therapy (VOT) technology

Other features:
> Incentivise patients to take prescribed Rx on time
> Track participant adherence in a clinical trial
> Capture patient reported outcomes (PROs)
> Record adverse drug reactions in real world
> Improving health of employees

Competitors

Companies like AIcure, sureadhere, healthprize and wellth - all are international companies in similar domains but we become India’s first product to be in such domains while have inculcating the concept of incentivisation to adherence.

Advantages or differentiators

Companies like AIcure, sureadhere, healthprize and wellth - all are international companies in similar domains but we become India’s first product to be in such domains while have inculcating the concept of incentivisation to adherence.

Finance

The product will be priced differently for different projects, companies - depending on volume, time and extent of requirement. Pricing will also change if the client needs patient support program or not, and in what form? – chat/customer care and so on. We might eye for subscription model in the future.

Business model

It will be a B2B

Money will be spent on

Product refinement and business development

Team or Management

Won the competition and other awards

February 16 – “KYT Adhere” won the best 1 minute pitch idea competition at Launch Pad StartUp expo, BITS Pilani, Hyderabad Campus, Telangana

February 24 – “KYT Adhere” came 1st runner up at “Idea Exposition” organized by Biotechnology Industry Research Assistance Council (BIRAC) Innovation Centre in collaboration with IKP Knowledge Park and Goa Institute of Management (GIM), Goa.

March 14, 2020 – “KYT Adhere” emerged winner yet again for the 3rd consecutive time at Start-Up Summit powered by Entrepreneur India at “Startup – Kickoff Session”, Hyderabad.

Invention/Patent

In process

Photos

Photo 1 - Healthcare Data Monetisation and Incentivising Adherence
Photo 2 - Healthcare Data Monetisation and Incentivising Adherence
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video