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In an era where health technology is evolving rapidly, Fedo Vitals has emerged as a trailblazer in preventive healthcare. With a vision to make health monitoring more accessible and accurate, Fedo Vitals has developed groundbreaking technology that transforms the way we approach health assessments. In an exclusive conversation with BW Healthcare World, Prasanth Madavana, Co-founder of Fedo Vitals, shared insights into their journey, technological innovations, market presence, and future plans.
The inception
Fedo Vitals began with a bold mission to revolutionise health monitoring. "There was a critical gap in the healthcare system," explained Prasanth Madavana. "Existing methods of health assessments were either invasive, time-consuming, or required complex equipment. Our goal was to develop a technology that could provide accurate, comprehensive health insights quickly and easily."
The result of this vision was a technology capable of extracting 34 health markers from just a 14-second face scan. These markers include vitals, fitness assessments, mental conditions, disease risk predictions for six lifestyle diseases, and medical expense forecasts for the next five years. This breakthrough technology marked the beginning of Fedo’s journey towards transforming healthcare.
Key problem areas
Prasanth Madavana outlined several critical issues in the healthcare landscape that Fedo Vitals addresses:
Late Detection of Health Risks: According to the WHO's 'Invisible Numbers' report, 66 per cent of total deaths are due to non-communicable diseases (NCDs), many of which are preventable through early detection. "Fedo's technology aims to identify health risks at an early stage," said Madavana, "allowing for timely intervention to prevent disease progression."
High Out-of-Pocket Health Expenditures: In India, out-of-pocket expenses account for about 62.6 per cent of total health expenditures. "By offering a non-invasive method to monitor health and predict medical expenses, Fedo helps individuals manage their health proactively and reduce unexpected medical costs," Madavana added.
Access to Quality Healthcare: Fedo bridges the gap between rural and urban healthcare, providing accurate health assessments regardless of location. "A 14-second face scan can deliver vital health insights, empowering people to take control of their health," noted Madavana.
Insurance Sector Benefits: Fedo Vitals offers significant advantages to the insurance sector by providing accurate risk assessments and health predictions. "This helps insurers tailor their policies, reduce fraud, and manage claims more efficiently," explained Madavana.
Present market scenario
The health tech market in India is projected to reach approximately USD 21.3 billion by 2025, driven by increasing awareness about preventive healthcare and the adoption of advanced technologies like AI and machine learning. "Fedo Vitals is well-positioned to lead this transformation," said Madavana, “offering innovative solutions that meet the growing demand for accessible, accurate, and efficient health monitoring.”
Technological Integrations
Fedo Vitals integrates its technology across various sectors where health assessments are crucial. Prasanth Madavana highlighted:
Risk Classification for Insurance Companies
Vital Monitoring for Telemedicine
Population Risk Prediction
Medical Spend Management and Credit for FinTechs
"Fedo is at the intersection of health tech and fintech, providing comprehensive solutions across multiple sectors," Madavana emphasised.
Future prospects
Currently, Fedo Vitals serves 20 per cent of life insurance companies in India, including major players like Aditya Birla Life Insurance, Aviva, Canara HSBC, Coco, and Aegon Life. The company also partners with telehealth providers such as Cure in the Middle East and employee wellness sector organisations like ICPro and Sphere IT in the UAE.
With a strong pipeline of potential clients and ongoing innovations, Madavana anticipates significant growth and an expanded market presence in the near future.
Notable partnerships and collaborations
Fedo has garnered recognition with awards in seven different countries and established key partnerships with prestigious institutions. "We have received multiple grants and investments from leading institutes in India," said Madavana. “These collaborations enhance our technological capabilities and market reach.”
Upcoming Innovations
Fedo is continuously innovating to expand its offerings. Upcoming developments include:
Gut Health Analysis: Advanced assessments to understand and improve digestive health.
Neurodevelopmental Evaluations: Tools to monitor and enhance neurological development.
Fitness Score: Comprehensive evaluations of strength, fitness, and flexibility.
Skin Analysis: In-depth assessments of skin health with personalised care recommendations.
“These innovations aim to provide a holistic approach to health monitoring and personalised care,” Madavana stated.
Expansion plans
Fedo is actively expanding its global footprint with over 40 pilot programs in 13 countries across five continents. "Our expansion strategy includes entering new markets, forging strategic partnerships, and continually enhancing our technology to meet evolving user needs," Madavana explained.
