Cardiovascular diseases (CVDs) stand as a formidable challenge to global health, leading to significant economic burdens worldwide. The World Health Organization reports that CVDs are the primary cause of death globally, claiming approximately 17.9 million lives in 2019, which constitutes 32% of all global deaths. A majority of these, about 85%, are due to heart attacks and strokes. The impact of CVDs is particularly severe in low- and middle-income countries, accounting for over three-quarters of such deaths. In the United States, CVDs were the cause of 928,741 deaths in 2020, leading to an economic impact of $407 billion in 2018–2019. The global cost of CVDs is projected to rise to $1,044 billion by 2030. Within this context, hyperlipidemia emerges as one of the most expensive medical conditions in the U.S.
Tricog Health Services Pvt. Ltd. was established in November 2014 by four visionary entrepreneurs: Abhinav Gujjar, Charit Bhograj, Udayan Dasgupta, and Zainul Charbiwala. Headquartered in Singapore, a hub within the dynamic and technologically advanced Asia-Pacific region, and a key member of the Association of Southeast Asian Nations (ASEAN), Tricog is strategically positioned in a region ripe with technological innovation and economic vitality. This strategic location not only places Tricog at the nexus of a vibrant economic zone but also provides it with access to a diverse market, fostering opportunities for technological collaboration and innovation in the healthcare sector, especially in the crucial area of cardiac care.
Pain point addressed
Tricog Health Services Pvt. Ltd. is revolutionizing cardiac care by upgrading primary health facilities into advanced cardiac centers and implementing medical-grade AI and digital solutions. Their innovative approaches include digitizing ECG/EKG workflows for timely diagnoses, integrating solutions with existing Laboratory Information Systems for validated reporting, and enhancing public health services by screening and managing high-risk cardiovascular patients. This strategic use of technology not only bridges gaps in cardiac care infrastructure but also improves efficiency and patient outcomes, showcasing Tricog’s deep understanding of healthcare needs and its commitment to enhancing cardiac care quality and accessibility.
Type of solution
Tricog provides a hybrid solution that combines hardware and software components for cardiac care. The core of their solution is the InstaECG™ service, which is AI-aided and specialist-verified for 12-lead ECG interpretation. This service enhances the accuracy and consistency of ECG interpretations, which is crucial for heart attack patients. The process involves capturing ECG data using the Tricog 12-Lead ECG machine at remote centers. This data is then transmitted to the Tricog Cloud, where AI algorithms provide preliminary diagnoses. A team of cardiac specialists at Tricog’s 24×7 medical hub further verifies these diagnoses and generates final reports, which are swiftly sent to healthcare centers via mobile app and email. Tricog’s system includes a digital data acquisition and transmission device that captures high-quality ECGs and transmits data in real-time to the cloud. The “Tricog Viewer” is a web and mobile-based tool for diagnosing acquired ECGs, facilitating easy access to reports and analytics. Additionally, the Cardionet platform provided by Tricog aids healthcare providers in managing conditions like stroke and STEMI, offering analytics for improving healthcare practices and patient management.
Type of input data leveraged
- 12-lead ECG data: Captures patients’ ECGs using Tricog’s 12-lead ECG machines at remote centers.
- Cloud-based AI analysis: ECG data transmitted to Tricog Cloud for preliminary diagnosis by AI algorithms.
- Specialist verification: Cardiac specialists at Tricog’s hub verify AI-generated diagnoses and create final reports.
- Digital data acquisition and transmission device: Device developed for real-time transmission of high-quality ECG data to the cloud.
- IoT communication: Communicator interfaces with ECG machine, transmits data via GSM or Wifi modules, compatible with multiple brands.
- Tricog viewer for diagnosis: Web and mobile-based tool for diagnosing acquired ECGs.
- Clinical information captured at the point of care are transmitted to the cloud-based headquarters.
Key technology involved
- Advanced AI algorithms: Utilizes AI for predictive healthcare analytics, improving heart attack survival rates by reducing diagnosis time.
- Cloud-connected ECG service (InstaECG): Analyzes and interprets ECG data, providing certified reports in 10 minutes, showcasing real-time AI applications in cardiac monitoring.
- IoT-enabled devices: Developed in partnership with GE Healthcare, these devices are used in remote areas for capturing and transmitting ECG data to centralized medical teams.
- Cloud-based ECG machine: Captures ECG data from patients and transmits it via the cloud for immediate analysis and diagnosis by Tricog’s medical team.
Key applications of solution
- Diagnostic assistance in cardiology
- Tricog’s approach to utilizing AI for ECG/EKG analysis is a prime example of how technology can enhance medical diagnostics. By integrating sophisticated AI algorithms, Tricog can analyze complex cardiac data more efficiently and accurately than traditional methods. This AI-driven analysis is further augmented by the expertise of medical professionals, ensuring that the interpretations of the ECG/EKG data are not only precise but also clinically relevant. This synergy between advanced technology and medical expertise allows Tricog to provide highly accurate and reliable cardiac diagnoses, which is crucial for effective patient treatment and care.
- Patient monitoring for heart health
- Tricog’s use of cloud-connected devices for continuous monitoring represents a significant advancement in patient care. These devices continuously gather heart health data, which is then transmitted in real-time to cloud-based platforms. This real-time data transmission is crucial as it allows for immediate analysis of the patient’s cardiac health. The ability to monitor patients continuously and analyze their data in real-time ensures that any changes in their heart health are promptly detected and addressed. This approach is vital for effective patient management, especially for those with chronic cardiac conditions, as it enables timely interventions and informed decision-making in treatment.
- Personalized care plans based on individual heart health data
- Tricog’s approach to creating personalized care plans hinges on the utilization of patient-specific cardiac data combined with data-driven insights. By analyzing individual patient data, Tricog can identify unique patterns and risk factors pertinent to each patient’s heart health. This personalized analysis allows for the development of customized treatment strategies that are tailored to the specific needs and conditions of each patient. Such customization ensures that the treatment is not only more effective but also aligns closely with the patient’s unique health profile, enhancing the overall efficacy and responsiveness of cardiac care.
Implications for key stakeholders
- Patients: Tricog’s advanced cardiac care technology not only improves patient care but also significantly reduces patient anxiety, a less obvious yet vital benefit. Fast and accurate diagnosis leads to quicker initiation of effective treatment plans, directly impacting a patient’s mental well-being. For instance, a patient at high risk of heart disease benefits immensely from timely interventions facilitated by Tricog’s technology. Such early interventions can drastically reduce the likelihood of severe cardiac events like heart attacks, thereby alleviating the patient’s anxiety about their health and potential emergency situations. This aspect of care is crucial in holistic patient treatment, addressing both physical and mental health needs.
- Healthcare providers: This technology significantly enhances the decision-making capabilities of healthcare professionals, particularly doctors and nurses. By providing access to real-time, detailed cardiac data, cardiologists, for example, can make more informed and precise decisions regarding patient care. This access to up-to-date and comprehensive cardiac information allows for a more nuanced understanding of a patient’s condition, leading to tailored treatments. As a result, patient outcomes are improved, not only in terms of health but also in overall patient experience, as treatments are more likely to be effective and timely.
- Insurers: Tricog’s technology, with its emphasis on early detection of cardiac issues, offers significant cost-saving potential for insurers. By catching heart problems early, the technology can prevent the escalation of these issues into more severe cardiac events that require expensive treatments like emergency surgeries. For example, an insurance company might notice a decrease in claims for costly emergency cardiac procedures, as Tricog’s early interventions help manage patients’ conditions more effectively, reducing the need for high-cost emergency care. This not only benefits the insurers in terms of reduced claims but also contributes to the overall efficiency of healthcare resource utilization.
- Regulatory bodies: Regulatory bodies, in the context of Tricog’s advanced healthcare technologies, face the challenging task of balancing data privacy with innovation. They should ensure that while healthcare technologies like Tricog’s evolve and bring advancements in patient care, they do so without compromising the confidentiality and security of sensitive patient data. This requires a nuanced approach to regulation that both fosters technological growth in healthcare and rigorously protects patient privacy. For instance, a regulatory body might have to update or create new standards and guidelines that specifically address the complexities of data handling in AI and cloud-based healthcare solutions.
Current impact
- Global reach and lives impacted: Tricog has made a significant impact by touching the lives of 10 million patients globally with their AI-powered remote cardiac solutions. The company’s vision is to expand this reach, aiming to make expert cardiac care accessible to 100 million people by 2027. Their operations span multiple geographies, including India, Southeast Asia, and Africa.
- Collaborations with healthcare providers: The company has forged partnerships with renowned private healthcare providers and diagnostic experts. Collaborations with groups like Max Healthcare, Apollo Hospitals, Fortis, and Manipal Hospitals, as well as with diagnostic leaders such as Neuberg Diagnostics and Redcliffe Labs, have brought Tricog’s services to the forefront of medical treatment, enhancing cardiac care standards.
- Impact on survival rates in India: In India, where cardiovascular diseases account for about 28.1% of deaths, Tricog’s technology has been crucial in addressing the gaps in healthcare infrastructure and expertise. By reducing the average diagnosis time for heart attacks from 360 minutes to 90 minutes, Tricog has significantly increased the survival rate for severe heart attack patients from 20% to 80%.
Potential future impact
- Expansion into remote patient monitoring: Given their success in cardiac care and chronic disease management, Tricog could further expand into the broader field of remote patient monitoring. This would involve leveraging their existing technology to monitor various health parameters and conditions remotely, thus providing more comprehensive healthcare solutions.
- Integrating with public health systems: Tricog could consider forming partnerships with public health systems in different countries. This would not only expand their reach but also integrate their advanced AI-driven solutions into public healthcare, potentially transforming how healthcare is delivered in resource-limited settings.
- Advancing into predictive analytics: With their strong base in AI and data analysis, Tricog could venture into predictive analytics for healthcare. This would involve analyzing large datasets to predict health trends, potential outbreaks, or individual health risks, thus contributing to preventive healthcare measures.
- Developing solutions for other chronic diseases: Building on their success in cardiac care, Tricog could diversify into managing other chronic diseases such as diabetes, respiratory conditions, or neurological disorders using similar remote monitoring and AI-based diagnostic approaches.
Business model
Tricog employs a multifaceted business model that primarily operates on B2B (Business-to-Business) and B2B2C (Business-to-Business-to-Consumer) models. Each of these models has unique characteristics and advantages.
B2B model
- Tricog partners with healthcare providers, such as hospitals and clinics. It provides them with AI-powered diagnostic tools and services for cardiac care. This model allows Tricog to leverage the existing patient base and infrastructure of these institutions, leading to rapid scalability and market penetration.
B2B2C model
- In the B2B2C aspect, Tricog collaborates with healthcare providers, who in turn offer Tricog’s services to their patients. This indirect consumer reach means Tricog is involved in patient care without directly interacting with patients. It enhances patient trust and compliance since the services are provided under the trusted banner of their healthcare provider, leading to wider acceptance and usage.
Advantages of this business model:
- Integrated care solutions: Their model integrates seamlessly with the healthcare providers’ existing systems, offering a more holistic approach to patient care.
- Data-driven insights for healthcare providers: The AI-driven data analysis not only benefits patients but also provides healthcare providers with valuable insights, enhancing their capacity to deliver effective care.
- Reduced infrastructure and operational costs: By providing AI and remote monitoring tools, Tricog reduces the need for extensive on-site diagnostic infrastructure for healthcare providers.
Funding and key investors
Tricog Health, a prominent player in the healthcare technology sector, has successfully garnered significant financial backing to fuel its growth and innovation. As of their latest funding update, the company has secured a total of $23.5 million through seven distinct funding rounds. The most recent infusion of capital came on April 20, 2023, during a Series B round. This continued financial support highlights the confidence investors have in Tricog’s potential and the impact of its technology in the healthcare industry.
The investors in Tricog Health include Sony Innovation Fund, Omron Healthcare, SGInnovate, Inventus Capital Partners, The University of Tokyo Edge Capital Partners, MedTech Innovator, Aflac Global Ventures, Blume Ventures, and TEAMFund.
Competitive differentiator
Real-time ECG data analysis
- Tricog’s technology is designed to analyze ECG data in real-time. This is a subtle yet critical aspect, as it drastically reduces the time to diagnose critical cardiac events like heart attacks.
- The ability to provide immediate analysis is not just about using AI; it’s about the efficient processing of data as it’s being generated, which is a significant technical challenge.
Integration with emergency response
- Tricog’s system is not just a diagnostic tool but an integral part of the emergency response chain. By providing immediate results, it enables quicker decision-making for emergency medical services.
- This integration significantly improves the ‘golden hour’ treatment in cardiac emergencies, a nuanced aspect that goes beyond typical diagnostic applications.
Custom AI algorithms for diverse populations
- Recognizing the diversity in cardiac health profiles across different populations, Tricog’s AI algorithms are tailored to account for such variations. This nuanced approach enhances accuracy across diverse demographic groups.
- This customization is a subtle yet impactful differentiator, as most AI solutions in healthcare often overlook this aspect.
Relevant regulatory and compliance requirements
- Compliance with medical device regulations such as the FDA’s regulations in the United States, CE marking for European conformity, and similar standards in other countries where they operate. Ensuring devices meet safety and performance standards set by these regulatory bodies.
- Adhering to data protection regulations like the GDPR in the EU, HIPAA in the U.S., and other local data privacy laws. Safeguarding patient data, especially given the sensitive nature of medical information.
- Staying abreast of evolving regulations specific to AI and machine learning in healthcare, which might vary by region, ensures that AI algorithms are transparent and fair and do not introduce bias in decision-making.
- Implementing robust cybersecurity measures to protect against data breaches and cyber threats, which are critical in the healthcare sector, regularly updating security protocols in line with the latest industry standards and threats.
Partnerships and collaborations
- Strategic healthcare collaborations
- Partnership with healthcare providers like hospitals and clinics for deploying their AI-driven cardiac diagnostic tools.
- Collaborations with cardiac care specialists for enhanced service delivery and patient care.
- Technology and innovation alliances
- Joint ventures with tech companies for advancing AI and machine learning capabilities in cardiac care.
- Collaborations with medical device manufacturers to integrate Tricog’s solutions with hardware.
- Market access and expansion partnerships
- Agreements with healthcare networks in new regions, especially in emerging markets, for market penetration.
- Partnerships with local health authorities and NGOs in various countries to expand their reach in underserved areas.
Testimonials
“Tricog’s services are excellent, prompt, and accurate. We are using their solution for over a year now. Our entire team is satisfied and would give 5 stars to Tricog for their excellent support and service. We also want to give a shout-out to their support team who is very helpful even over the smallest task.” Dr Ashpak A. Shah (Dhanwantari Hospital and Critical Care)
Areas for continuous improvement
Enhanced language and cultural adaptability
- Integrating a wider range of language options in their software to cater to non-English-speaking populations.
- Customizing user interfaces and communication materials to align with diverse cultural norms and practices enhancing user engagement and comprehension.
Incorporating a broader spectrum of cardiac conditions
- Expanding the range of cardiac conditions the technology could diagnose, beyond the most common ailments.
- Developing AI algorithms that could identify rare or complex cardiac conditions, which are often challenging to diagnose.
Addressing diverse patient demographics in algorithm development
- Refining AI models to better account for variations in cardiac symptoms and presentations across different age groups, genders, and ethnicities.
- Ensuring that the technology is equally effective across a wide spectrum of patient demographics, thereby reducing the risk of diagnostic biases.
References
https://bmccardiovascdisord.biomedcentral.com/articles/10.1186/s12872-016-0190-x
https://www.tricog.com/diagnostic/
https://www.crunchbase.com/organization/tricog-health-services-pvt-ltd
Disclaimer: Please note that the opinions, content, and analysis in my posts are entirely my own and do not reflect the views of any current or past employers or institutional affiliations. These posts, based solely on publicly available information, are for informational purposes and should not be taken as professional advice. All insights and conclusions are my viewpoints and should not be considered representative of any organizations I am or have been associated with. This content is not endorsed by, nor does it represent the stance of any affiliated entity.
