Pratian Technologies: Carving Genuinely Native Healthcare Products
Date: Monday , January 09, 2017
Founded in 2006 by three software professionals, as an aggregator of high-end IT training and consulting services firm, Pratian Technologies (India) Pvt. Ltd. met with quick initial success, benefitting from the collective 30 years of experience of the co-founders and a clientele of around 20 top MNCs in the first year itself. However, the next 2 years saw several challenges including negative fallout of the great recession. Revenues dipped from Rs.2.1 crore to little over Rs.50 lacs. Lack of experience in running a business, no common shared vision and inability to collaborate as a team soon saw the company sink to one employee from around 30. November 2008, was a decisive moment for the company, as two of the co-founders moved out, a decision to revive the company was made, and accountability for the debts was taken by the third co-founder. This tough time also laid the culture of the company ever since - doing the right thing.
Today Pratian is tapping the highly growing healthcare IT sector. \"Our focus is currently in the US healthcare services, which we see is headed for a big spike and costs expected to spiral to $4 trillion by 2020. It is but inevitable that US manages its healthcare costs strategically and India will emerge as its natural technology partner due to its talent and cost advantage. We will see our country emerge from being a low-cost service provider to a high value innovation, tech solutions provider in the next decade,\" says Subramanian Sivakumar, Founder & CEO, Pratian.
The company believes that the solutions & products for India should have nativity as a part of the design considerations. \"With our team working on US healthcare systems, cognitively mapping the best practices to our local needs should be an exciting journey ahead. We also see a big leverage of our ability to build solutions for the hugely complex US healthcare systems come into play, as we foray into domestic healthcare sectors,\" adds Subramanian.
The Undisputedly Best Offerings
From almost closing shop in 2008 to growing by 100 percent in the next three years, Pratian team grew from a modest six in 2011 to around 30 by mid-2014. By this time, the company decided to focus on building world class products and leverage its strength in identifying and training top talent from campus. Later, the company pitched in for building one of the largest US healthcare Digital platforms and struck a partnership with a large Florida-based healthcare company Access Healthcare, co-owned by a visionary Indian Physician Dr. Pariksith Singh and HCA, the largest hospital globally. As a co-developer and one-third beneficiary of sales proceeds for all the products developed, Pratian has embarked on creating a world class platform with an exponential growth unicorn model. Its healthcare practice scaled from a modest 12 strong team to around 106 in 14 months.
\"We believe that we are very strategically positioned in the Healthcare IT sector due to this partnership, backed by an amazing team of healthcare experts and techies who can architect the most complex applications with ease,\" adds Subramanian. The company\'s understanding of the lines of businesses in U.S. healthcare like Managed Care and ACO, with both provider side and payer side focus makes Pratian a fast-emerging player in the country and globally. Healthcare being a critical part of the organization, Pratian makes sure that it does not restrict its thoughts and vision to a specific service or solution. Hence, it offers Platform (products, solutions for web & mobile devices, over cloud and on premise), People (training, education, engagement for healthcare market using traditional & futuristic methodologies and others), Things (integration with devices, secure communication & VR), Technology (SOC2 /HIPAA compliant data center, PHI data protection and others.), and Analytics (enterprise data warehousing, business analytics, predictive modeling and AI). Pratian\'s flagship offerings include Digital Transformation Systems for Healthcare, OneHealth (a large healthcare IT platform), CredAxis (a credentialing software for US healthcare), Claims Gateway and Utilization Management software, along with three go-to-market products in the first quarter of 2017.
This new thrust of creating high value products helped the company achieve 300 percent growth since 2014, and believes to exponentially grow by 2018, with a footprint in 15 countries and a platform all set to deliver a value of $1 billion. When asked about the unique proposition of the company, Subramanian reveals, \"The USP of our company is the culture. We invest heavily on culture. Our values are based on integrity, passion and competence. Self-accountability is the key to our delivery model\". This blame-free culture encourages risk taking, helps innovation thrive and has been instrumental in handling large complex healthcare projects. He believes that the journey into the future is through its exponential growth model, which requires it to rapidly unlearn, let go and think new. Walking on these principles, the company is building a platform with over 2,000 screens and 57 distributed services in less than nine months.
The Way Ahead
Given the complexity of healthcare systems, Pratian has a great technology roadmap as it embarks on building solutions in Mobility, Big Data, Telehealth, IoT, AI, Predictive Modeling, IoT and others. \"We have a focused plan to be the leader in new age Health IT space by 2020,\" Subramanian explains. The company has also planned deep investment in Knowledge Management. By 2020, Pratian envisions building the largest Healthcare Platform as a Service (HPASS), and a private university to foster talent and innovation for its ambitious ecosystem projects by 2018. It also has huge plans to start a Collective Intelligent (Samashti Buddhi) and Collective Execution (Samasthi Karma) based incubation model for nurturing 1,000 successful startups from 2017-2026 called as Startup 1000. Furthermore, Pratian looks to spin-off its two-year old Healthcare IT division as a separate entity to realize its global platform vision by 2017.
Subramanian Sivakumar, Founder & CEO
Krishna Kumar, Director - Technology & Operations
Priyanka Grover, Director - Strategic Initiatives & Incubation
Arindam Das, Sr. VP - Education & Research
Pattabhi Ramaiah, VP - Talent Sourcing
Dronachari Sharma, Sr. - VP Consulting
Venkatesh Seshadri, Sr. - VP Consulting
The collective expertise of over 200 years, from a very accomplished management and leadership, with experience of working in US, Latin American and Asia Pacific geographies.