Executives from the company said the firm is testing out a hospital information management (HIM) product, designed and developed entirely for small to medium-sized hospitals in emerging geographies. According to industry watchers, hospital information system is globally a $20 billion market; the Asian market, including Japan, may be worth $4 billion.
MHygea, as the product is called, would enable digitisation of hospitals. The product, going ahead, would enable MphasiS to sell services to hospitals as well.
As the healthcare sector evolves in emerging markets, we believe there is a huge opportunity. This is a way to enter the healthcare provider market segment, chief corporate development officer of MphasiS Dinesh Venugopal said. In future, we may not be looking at product as the best hospital management system in the world. However, we believe this is a good entry point for us because as hospitals evolve, the first thing they look for is hospital info systems, he added.
The firm, majority owned by HP, has identified India and Southeast Asia, Indonesia, and the West Asia as the markets to sell its product.
We do have a heathcare market today but it is mostly on the payer side. It is 8% of our revenues. Hospital info systems will add value to this business. Eventually, our goal is to give mid-markets a hospital in a box, or an end to end solution, Venugopal said. Some components of the product, he added, can be on the cloud, but not the critical functions of the hospital.
MphasiS, however, is in for tough competition in the hospital info systems marketplace among Indian vendors, there is Srishti that has seen good traction for its products over the past few years. Other players in the market include Religare Technova, Kshema Technologies, Wipro, and HCL.