Connect with us

HealthWorksAI

Exclusive Interview With Arvind Nagpal, Founder & CEO, HealthWorksAI

Published

on

Exclusive Interview With Arvind Nagpal, Founder & CEO, HealthWorksAI

Technology has enabled rapid market growth in the healthcare sector with advanced technologies like cloud storage, artificial intelligence, and data analytics to the extent that it has become dependent on it to operate otherwise. There are very few market players which have the infrastructure to scale, to provide B2B services in the healthcare sector without compromising on the quality of services or security of patient data. HealthWorksAI’s analytics-based solutions cover the end-to-end business needs of healthcare clients through its AI-enabled product and market intelligence services. Analytics Insight has engaged in an exclusive interview with Arvind Nagpal, Founder & CEO, of HealthWorksAI.

1. Kindly brief us about the company, its specialization, and the services that your company offers.

We are an AI-driven B2B SaaS company focused on analytics-based solutions for the healthcare sector. We have developed innovative solutions at the intersection of business, maths, and technology to drive profitable growth for health plans. We empower end users to focus on business decisions without getting overwhelmed with the underlying complexity of data and analytics. We recognize that businesses need to act and react quickly to evolving market conditions. All else being equal, the fastest company in the business will win.

Undoubtedly, the healthcare industry generates a lot of data but turning that data into insights that improve patient outcomes and operational efficiency is a difficult task. We’re proud to empower organizations across the US. From multi-state insurers to regional plans, HealthWorksAI’s platform and services are configured to meet the unique challenges of each client.

We pride ourselves on delivering insights at the speed of business. By leveraging the SaaS model, we have onboarded customers on our platform in as little as 48 hours from start to Go-live

Advertisement
2. Please brief us about the products/services/solutions you provide to your customers and how they get value out of it.

Medicare Advantage (MA) in the United States is a one-of-a-kind healthcare program funded by the federal government and managed by private insurance companies known as Payors or Health Plans.

Our customers who are mainly healthcare payors benefit from rapid access to very efficient and insightful Medicare Advantage market data, accurate predictions, and a reliable single source of truth for strategic decision-making.

We have majorly five products namely, ExplainableAI, ProductIntel, MarketIntel, NetworkIntel, and MarketingIntel which have gained good traction in the Healthcare market.

One of our recently launched solutions, Explainable Artificial Intelligence (xAI), is designed for senior health plan leaders to support strategic decision-making. xAI provides analytics & insights on the influence of various factors including the product design, provider network, brand, marketing, and other influencers toward business growth in each market.

Another majorly adopted solution of the HealthWorksAI portfolio is ProductIntel, an AI-powered Medicare product development platform. It helps product managers manage the entire product lifecycle from design to launch and successful execution of insurance products.

Advertisement
3. What’s your growth plan for the next 12 months?

We at HealthWorksAI, are continuously evolving our products to deliver more value to our clients. We have a clearly laid out roadmap for each of our product lines with release plans extending out to the next three years. To meet this demand, we are rapidly expanding our talent pool. While there are thousands of engineering and science students graduating each year in India, we are very selective in our hiring by picking up sharp and smart from top tiers like IITs, BITs, and NITs. We plan to double our employee base in India in the next 18 months to strengthen our product portfolio.  

At the fundamental level, there are three things: first, the amount of data is doubling every two years with all the digital revolution. Second, the rising computing power and cloud adoption has made access easier for crunching massive amounts of data. Thirdly, the open-source community has powered a new generation of innovative building blocks that allows innovators to assemble vs build everything from scratch. Today the number of no-code solutions has skyrocketed

And finally, the media has provided sufficient coverage over the last decade to channel energies into creating an ecosystem of institutions, practitioners, and research that has attracted top talent to the ecosystem.  This trend will continue for the foreseeable future as the amount of value that can be unlocked from the data is huge.

5. What is your advice to aspiring big data and analytics candidates?

The job market for data scientists has exploded, with data science, AI/ML being one of the most in-demand jobs sectors. Data analysis is now an important qualification for businesses. Every business decision is based on or supported by data, and organizations today hire professionals not only for their data-crunching skills, statistical concepts, or modeling guidelines in an offline or online setting, but also for more intensive involvement in statistical analysis, machine learning fundamentals, or other algorithms as part of the product eco-system.

Aspiring individuals must have trending skillsets, a thorough grasp of the language, and be up-to-date on the new emerging trends that are shaping the sector at the moment. The business context is extremely critical in this entire exercise. You should be able to answer “So what?” every time.

Advertisement

With rapid technological adoption across industries and entirely tech-enabled sectors such as IT, BFSI and healthcare, etc., the role of AI and machine learning will only grow in 2022 and the years to come, with a significant increase in demand for related roles.

According to some reports, AI/Machine Learning investments in India will grow at a CAGR of 33.49 percent until 2023. While the tools are improving, data scientists who want to excel in the market will still need a solid understanding of the fundamentals, such as data modeling, relational databases, and basic statistical analysis.

7. How do you plan to make an impact in the Indian/US market and what are your plans to tap the market?

We provide solutions for the Medicare Advantage (Medicare health plan offered by private companies) market in the US. Most of our work is upstream related to the benefit designs and portfolio designs that address the prevailing population health conditions in the market. We focus on benefit designs that impact a beneficiary’s ability to take care of their health needs down the road. Our solutions are designed to look at the prevailing diseases, social determinants of health, and the cost of offering these benefits. The goal is to help beneficiaries manage their health conditions proactively. These solutions ultimately drive down the total cost of care and an opportunity to pump more dollars into the proactive care management

I believe, a solution provider with “an inch-wide and mile-deep focus” will always have an advantage over providers who “do everything for everyone.” As key a player, we are aware of the audience’s needs and expectations about the solution. Using a lot of data and employing the correct technique to generate insights is our mantra to generate business.

The post Exclusive Interview with Arvind Nagpal, Founder & CEO, HealthWorksAI appeared first on .

Advertisement

Top posts

․bit Raises $13M To Build Cross-Chain Decentralized Identity Protocol ․bit Raises $13M To Build Cross-Chain Decentralized Identity Protocol
BIT1 hour ago

․bit Raises $13M To Build Cross-Chain Decentralized Identity Protocol

sponsored .bit (did.id) has raised $13 million to build a cross-chain decentralized identity protocol. The Series A round, completed one...

What a complete yolk! Comparing Bitcoin to Eggs and why it matters What a complete yolk! Comparing Bitcoin to Eggs and why it matters
adoption2 hours ago

What a complete yolk! Comparing Bitcoin to Eggs and why it matters

What a complete yolk! Comparing Bitcoin to Eggs and why it matters Liam ‘Akiba’ Wright · 4 seconds ago ·...

Why Hashing Is Critical In Ensuring Sage Encryption In Cyber Security Why Hashing Is Critical In Ensuring Sage Encryption In Cyber Security
Cyber Security3 hours ago

Why Hashing Is Critical In Ensuring Sage Encryption In Cyber Security

Hashing is really important for integrated encryption in cyber security Assuming you work in the innovation or cyber security industry,...

New Brazil bill wants to tokenize mined gold on blockchain New Brazil bill wants to tokenize mined gold on blockchain
adoption3 hours ago

New Brazil bill wants to tokenize mined gold on blockchain

New Brazil bill wants to tokenize mined gold on blockchain Oluwapelumi Adejumo · 60 mins ago · 1 min read...

Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears
btcusd4 hours ago

Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears

Solana (SOL) price has locked its sights on the goal from day one. Solana’s price is extremely bullish Price spiked...

President Of Central Bank Of Brazil Disagrees With ‘Heavy Hand’ Regulations For Cryptocurrencies President Of Central Bank Of Brazil Disagrees With ‘Heavy Hand’ Regulations For Cryptocurrencies
Brazil4 hours ago

President Of Central Bank Of Brazil Disagrees With ‘Heavy Hand’ Regulations For Cryptocurrencies

The president of the Central Bank of Brazil, Roberto Campos Neto, has defended the use of more moderate regulations in...

Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network
adoption4 hours ago

Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network

Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network Samuel Wan · 1 hour ago · 2 min read The new...

TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT
Bitcoin5 hours ago

TA: Top 5 Crypto You Should Watch This Week – BTC, ETH, BNB, GMT

Top 5 Crypto You Should Watch This Week, with many crypto altcoins producing price gains of two or more digits....

Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000 Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000
Analysis5 hours ago

Bitcoin, Ethereum Technical Analysis: BTC Lower, Following Brief Rally Above $25,000

Bitcoin was trading lower to start the week, after the token briefly rose above $25,000 during Sunday’s session. As of...

Monero enhances privacy, security features with new upgrade Monero enhances privacy, security features with new upgrade
Monero6 hours ago

Monero enhances privacy, security features with new upgrade

Monero enhances privacy, security features with new upgrade Oluwapelumi Adejumo · 2 hours ago · 2 min read The Monero...

Report Shows Crypto Assets Record Steady Growth As Inflation Lowers Report Shows Crypto Assets Record Steady Growth As Inflation Lowers
BTC6 hours ago

Report Shows Crypto Assets Record Steady Growth As Inflation Lowers

The United States’ newest release on its inflation rate for July has created a celebration reason for many, especially the...

MANA’s network activity could bring forth a shorting opportunity here MANA’s network activity could bring forth a shorting opportunity here
Altcoins8 hours ago

MANA’s network activity could bring forth a shorting opportunity here

Every once in a while, cryptocurrencies go through a phase where volumes contract and prices are restricted within a narrow...

Monero (XMR) Climbs Over 7% Before Weekend Hard Fork Monero (XMR) Climbs Over 7% Before Weekend Hard Fork
btcusd8 hours ago

Monero (XMR) Climbs Over 7% Before Weekend Hard Fork

Monero (XMR) price has surged by as much as 7% in a matter of 24 hours before network upgrade or...

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets
MIM9 hours ago

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets Oluwapelumi Adejumo ·...

Ripple lawsuit: SEC receives another shock after latest court ruling Ripple lawsuit: SEC receives another shock after latest court ruling
News10 hours ago

Ripple lawsuit: SEC receives another shock after latest court ruling

American watchdog SEC took a recent hit as the battle against Ripple moved into an interesting phase this week. There...

Leading European Tire Retreader Vaculug To Accept Crypto Payments Leading European Tire Retreader Vaculug To Accept Crypto Payments
Bitcoin11 hours ago

Leading European Tire Retreader Vaculug To Accept Crypto Payments

Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now accept cryptocurrencies for its products...

Ethereum’s metrics that could determine your portfolio value this week Ethereum’s metrics that could determine your portfolio value this week
Altcoins11 hours ago

Ethereum’s metrics that could determine your portfolio value this week

It is not usual for the crypto markets to be dominated by an altcoin. But this seems to be the...

Pre-Merge: Here’s the full scope of the ETH 2.0 Deposit contract Pre-Merge: Here’s the full scope of the ETH 2.0 Deposit contract
Ethereum14 hours ago

Pre-Merge: Here’s the full scope of the ETH 2.0 Deposit contract

Ethereum, the world’s largest altcoin, continues to create headlines ahead of the upcoming Merge. As expected, it has been seeing...

Trending

Daily Bitcoin MiningEarn At least $50 daily with just your phone