The healthcare industry has long struggled with the challenge of leveraging data to drive critical insights to (1) drive higher revenues and (2) run efficient operations. Traditionally, companies resorted to acquiring vast and raw datasets encompassing prescriptions, medical claims, and more. Given the fragmented nature of the industry and the complexity of the data, extracting meaningful insights from these data troves proved to be a daunting task, which requires the expertise of expensive consultants who painstakingly navigated through the overwhelming volumes of data, which was typically disparate, unstructured, and did not have a common meta-data layer.

Without the ability of seamlessly deriving intelligence from the data, healthcare providers would struggle with customer engagement. This still poses a critical challenge, as reaching and educating both patients and physicians requires significant investment in marketing efforts. This inefficiency not only consumes valuable time and resources but also hampers effective customer engagement strategies - especially when the customer engagement is either too late or too irrelevant. In a world where data is quintessential for progress, data held by these healthcare enterprises holds valuable insights critical to drive customer engagements, retention and improve customer experiences to foster trust and loyalty, eventually leading better top-line performance!

As per McKinsey’s research, Med-tech’s value to healthcare systems could reach $3 Tn by 2030. Healthcare enterprises across South Asia, SEA and ME markets cumulatively spend $3-$5 billion annually on business intelligence, customer engagement tools and real-world clinical evidence. This is where THB – Technology, Healthcare and Big Data is revolutionizing the healthcare data analytics space. THB has built an intelligent CRM to cater to business intelligence needs, customer engagement and real-world clinical evidence needs for healthcare providers (hospitals & clinics), pharmaceutical companies and healthcare insurers.

THB is founded by Akansh Khurana, Kritika Tandon, Rohit Kumar and Rajesh Pachar. Each one of them comes with 15+ years of experience in management and consulting with some most renowned enterprises like McKinsey & Co, Bain & Co, Microsoft, etc. The team is now joined by Chirag Adatia, an ex-Senior Partner at McKinsey & Co., who is taking over as the CEO to take the company through it’s next phase of growth.

THB is a full stack, verticalized data management and analytics platform. Its proprietary data models ingest data from multiple sources (e.g.: Hospital Information Systems, ERPs, Clinical Data and Third-Party Data) and in multiple formats (structured & unstructured) and eventually derive analytics and hyper-contextual, micro-actionable insights for cost efficiency and revenue growth opportunities. THB’s secret sauce is in its ability to correlate clinic data with patient & physician data to create the right context, unlocking new cross sell and upsell opportunities.

Its Customer Engagement Product for Providers offers a unified patient experience with modules like Smart Patient CRM providing an organization wide profile and Automated Campaign Management on top of the Patient CRM. Its product modules for Physician engagement takes care of Lead Management, Physician CRM, Marketing Cloud, etc. primarily aimed at increasing inflow of referrals from physicians (for hospitals) and increasing share of prescription (for pharmaceutical companies).

Overall THB’s product suite helps almost every stakeholder in the healthcare value-chain (whether a provider i.e., hospitals and doctors, or a payer i.e., insurers, or enablers i.e., pharma) leverage data for better revenue realization.

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Why we invested in THB

1. Large, Untapped Market Opportunity – The spending on business intelligence by healthcare enterprises in the South Asia, SEA and ME markets is estimated to be ~$3 bn, growing at a healthy rate of 15 - 20%, validated with THB’s increasing NER (Net Expansion Ratio). Within its existing enterprise customers, the spending on data analytics solutions has increased by more than 30% yoy.  
2. Limited Competition in the operating regions – THB has no direct comparable peer that offers an integrated healthcare data suite with multi-functional applications across the healthcare value chain in the region it operates. While it faces some competition from generic CRMs like Salesforce, Microsoft Dynamics, etc. its competitive edge comes from its ability to overlay real world clinical data with the CRM data and provide healthcare specific nuanced insights which generic CRMs are unable to derive.
3. Strong founding team with domain experience – THB’s business is led by highly experienced founding members with an industry rich expertise. Each of its founder comes from a background of more than 15 years in healthcare and healthcare technology. The founders have built a strong layer of an Executive Management team under them that comes with similar industry experience and understand the customers’ requirements.    
4. Value-chain Control – THB’s offering creates value for multiple stakeholders like hospitals, clinics, pharmaceutical companies and health insurers across critical processes. Its ability to create impact for each stakeholder makes it an integral part of the entire value-chain and makes it even more critical when all major stakeholders are using the THB platform.
5. Value Attribution & Share of Value – THB’s platform is seamlessly able to demonstrate the value created by process and by stakeholder, be it conversion ratios, customer retention ratios, or simple data monetization, and therefore establish clear attribution of value created by the platform. This not only leads to better usage by the customers, but also opens up opportunities for THB to dabble with value-sharing models with customers, where THB is able to maximize its revenue realization from customers that have become mature uses of the platform. This ability to take a ‘share of the value created’ is extremely rare, and among the biggest USPs of THB, as it’s far more valuable than any price one might be able to charge customers!
6. We are excited to onboard the journey ahead of building a truly global healthcare data company alongside the THB team!

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