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#437 – Abhinav Shashank, Co-Founder & CEO at Innovaccer

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Healthcare Data - Episode Details

Join us on the latest episode, hosted by Jared S. Taylor! Our Guest: Abhinav Shashank, Co-Founder & CEO at Innovaccer.

What you’ll get out of this episode:
  • Origins and Growth of Innovaccer: Abhinav Shashank, CEO of Innovaccer, shares his journey of building a successful healthcare tech company, discussing the challenges and triumphs of transitioning from a data platform for universities to a healthcare-focused entity.
  • Pivotal Healthcare Shift with Mercy ACO: Innovaccer’s shift to healthcare was catalyzed by their project with Mercy Accountable Care Organization, leading to a focus on integrating various healthcare data for comprehensive patient views and proactive care.
  • Advancements in AI and Healthcare Efficiency: Shashank highlights Innovaccer’s expansion into AI and how it significantly aids in reducing administrative burdens for healthcare professionals, improving patient care and physician well-being.
  • Navigating Personal Challenges and Cultural Change: Despite experiencing a challenging period of personal depression, Shashank’s return led to a greater emphasis on company culture, focusing on long-term sustainability and employee well-being.
  • Embracing Purposeful Capitalism for Sustainable Growth: Innovaccer, valued at over $3 billion, navigates the complex healthcare tech industry by prioritizing purposeful capitalism and sustainable growth, aiming for long-term impact over quick profits.

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The Founding of Innovaccer and It’s Evolution in Healthcare Technology

Abhinav Shashank, CEO and co-founder of Innovaccer, discussed the company’s beginnings on the Slice of Healthcare podcast. Initially a data platform selling to US universities from Delhi, Innovaccer faced limitations in scaling within the academic sector. The shift to healthcare came when Mercy Accountable Care Organization required integrating diverse healthcare data. This pivot was a game-changer, marking the company’s dedication to healthcare technology.

The Impact of AI and Data Integration in Healthcare

Shashank emphasized the revolutionary role of AI in healthcare, detailing Innovaccer’s advancements in integrating patient data to offer comprehensive care and reduce administrative burdens. With products like InNote and InCare, they focus on providing 360-degree patient views to healthcare providers, enhancing both patient outcomes and operational efficiency.

Overcoming Personal Challenges and Building a Supportive Culture

Despite the company’s success, Shashank faced personal challenges, including a period of depression. This experience led to a reassessment of work-life balance and the importance of a supportive work environment. He stressed the need for a company culture that values long-term sustainability and employee well-being.

Purposeful Capitalism in Healthcare Technology

Shashank advocates for ‘purposeful capitalism’ in healthcare tech – building a company that prioritizes impactful missions and values over short-term financial gains. This approach is evident in Innovaccer’s patient-centric technologies and its sustainable growth strategy.

Future Outlook and Advice for Aspiring Entrepreneurs

Looking forward, Innovaccer aims to continue innovating in AI, focusing on creating joy and satisfaction for both customers and employees. For aspiring entrepreneurs, Shashank advises patience and passion for the industry, emphasizing that healthcare tech is not a ‘get rich quick’ field but one that requires long-term commitment and focus on making a genuine difference

 

WORD FROM OUR SPONSORS:

Our sponsors for this episode are Sage Growth Partners and Quantum Health

 

Sage Growth Partners Thumbnail for digital health use on Slice of Healthcare's website.

Sage Growth Partners accelerates commercial success for healthcare organizations through a singular focus on growth. The company helps its clients thrive amid the complexities of a rapidly changing marketplace with deep domain expertise and an integrated application of research, strategy, and marketing. For more information, please go to www.sage-growth.com & follow Sage Growth Partners on social media – @sagegrowthpartners

Quantum Health's Thumbnail for digital health use on Slice of Healthcare's website

Quantum Health is an award-winning consumer healthcare navigation company that delivers an unparalleled consumer experience based on empathy and trust, enabling employers to achieve industry-leading satisfaction rates and independently validated claim savings. Launched in 1999, Quantum Health’s model is based on years of consumer research and the insights learned from guiding millions of consumers and their providers through their healthcare journey. Visit: https://quantum-health.com/ and follow Quantum health on social media – @Quantum Health

Finally, to learn more about our guest and their company please use the links below:

– Guest’s LinkedIn – Company LinkedIn – Website –

Also, be sure to follow Slice of Healthcare on our social channels:

– Website  – LinkedIn – Twitter – YouTube – Newsletter –

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