Ocare: First online platform for dentists and insured patients launched

OCARE, (ocare.com), India’s first, and only, independent Insurance Process as a Service (IPAAS) platform, on February 16, 2017 launched its fully integrated improved website aiming to connect empanelled dentists and insured patients on a single digital platform.

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Speaking on the launch, Dr. Neeraj Sheth, Founder & CEO, OCARE, said, “While insurance has been around for many years now, dental insurance is a new concept in India. With low oral health in India and the growing costs of dental treatments, Dental Insurance is a must to maintain dental hygiene in the country. We aim to provide the best product coupled with a seamless engagement of a dentist with his patient.”

“Besides choosing OCARE’s wide list of empanelled dentists to take care of their dental needs, patients can access their dental history at any time they want. For dentists too, this is a boon as they will be able to better recommend a course of treatment based on their history,” added Ravi Kikan, COO, OCARE.

The website has been designed to provide easy navigation and information flow for OCARE’s products and services for customers as well as dentists. Dental Insurance is a completely new concept and there are quite a few queries on what dental insurance is and how the entire process works right from when a patient enters the clinic, the dentist outlining their treatment plan to details of the claim reimbursement process. All these questions are answered in an easy 4 step process in the ‘How it Works section’ of the website.

Further questions about dentist empanelment, insurance coverage and turnaround time are answered in the Help/FAQ section to assist both prospective patients and dentists. The terms and condition section on the website clearly outlines the treatments covered, exclusions and costs.

Once a dentist registers with OCARE, he can enter all the details related to his practice, treatment and costs. He can use the scheduler to manage his appointments and patients. Dentists will also use this platform to enter details related to the treatment plan, costs and sharing an OPG of the decayed tooth and the tooth post treatment. This also ensures all dental records are maintained digitally and can be accessed at any time. Patients can use this platform to book appointments at a preferred dentist based on location and convenience they can view their medical and treatment history and most importantly use it for their dental insurance claim process.

OCARE brings to you Dental Insurance for the first time in India. It covers existing conditions, has no waiting period, offering a sum assured of Rs.25,000 per annum covering dental treatments over a location independent dental network. OCARE offers host of benefits for a nominal premium for INR 1699. OCARE is currently offered as a group insurance to corporates, schools, colleges, and organizations with a member-strength of more than 50.

· First Time a Dental Insurance Plan Launched in India
· Covers pre-existing conditions
· No waiting period

Product highlights include:

o Oral hygiene kit
o OCARE Dental Insurance witha minimum sum assured of INR 25,000/- per annum, per person
o Loyalty card withpoints redeemable for dental services
o Bi – annual dental checkups

OCARE is India’s first, and only, independent Insurance Process as a Service (IPAAS) platform. The platform covers a complete range of dental health services that include dental insurance, dentistry network and oral health education in India. Starting with 108 cities & with a plan to spread pan-India, OCARE is also the first, and only, IPAAS that provides India’s first Group Dental Insurance.
With its headquarters in Mumbai, OCARE was founded by Dr. Neeraj Sheth in 2015 and employs 150 associates with a pan-India network of over 9,000 dentists. OCARE aims to promote its proprietary, scalable, innovative and state-of-the-art technology that will enable dentists to make the real-time oral healthcare management of patients convenient, flexible & affordable.
OCARE Dental Insurance in India was conceptualised by a team of young dentists who vowed to solve the problem, where on one hand, patients find dental treatments exorbitant and unaffordable, and on the other, too many dental colleges and the ever increasing number of graduating dentists make the competition cut-throat. The OCARE team thought of developing a tech platform that first unifies dentist and patient segments, and then simplifies the whole jargon of dental insurance. OCARE Dental Insurance process uses an intraoral camera on the proprietary, innovative tech platform for case documentation and approval for the claims process where the patients get Rs.25,000 annual coverage.

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Dr Kewal Krishan performs India’s first successful implant of HeartMate 3™

Dr. Kewal Krishan, Programme Head – Heart transplant and Ventricular assist devices and senior consultant cardiac surgeon at Max Super Specialty Hospital, Saket, performed India’s first successful implant of HeartMate 3™, which offers physicians the world’s most advanced ventricular assist technology available to support the management of patients with advanced stage heart failure, a statement issued by the hospital said.

Kewal Krishan

According to the office of The Registrar General and Census Commissioner, India’s report titled ‘Causes of Death in India 2010-2013’, cardiovascular disease is responsible for 23% of all deaths in India, out of which heart failure accounts for an estimated 2.3 million deaths annually.

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The HeartMate 3™ implant surgery was performed in early May 2016 on Mr. Santoshkiran Kardiawar (name changed), a 69 year old gentleman from New Delhi, who had earlier undergone stenting twice in 2005 and 2009 and had been put on medical management for a triple vessel coronary artery disease, diabetes mellitus and end stage cardiomyopathy with EF 15%. Besides implanting HeartMate 3™, Dr. Kewal Krishan also removed a clot from the right ventricle and repaired the aortic valve. HeartMate 3™ LVAD implant was advised as destination therapy for symptomatic end stage heart disease since medical management was found to be insufficient for the patient’s condition. Over the past three weeks since the LVAD implant, Santoshkiran’s heart condition and quality of life have improved considerably and with immediate effect.

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Internationally renowned Dr. Kewal Krishan is one of the handful surgeons in India that are formally trained in all aspects of heart transplantation. An Advanced Clinical Fellow at the world’s top hospitals including Mayo Clinic and Mount Sinai Medical Centre, USA, Dr. Kewal Krishan is credited with the distinction of performing the maximum number of LVADs in one year in India. He along with other team members performed the maximum number of ECMO (Extracorporeal Membrane Oxygenation) in the country, in patients with severe lung or heart condition. Dr. Kewal had also performed the first heart transplant of Max Healthcare in India.

Explaining about this first fully magnetically-levitated left ventricular assist device (LVAD) implant, Dr. Krishan says: “Unlike artificial hearts, LVADs don’t replace the heart, but supplement the pumping function in patients whose hearts are too weak to pump blood adequately on their own. LVADs can be used in patients who are awaiting heart transplant, as well as patients who cannot undergo transplantation for any reason. With the availability of HeartMate 3™ system in India, I am glad that advanced heart failure patients will no longer need to travel abroad to get this implant, and I am looking forward to making this system broadly available throughout India.”

A left ventricular assist device (LVAD) is a battery-operated, mechanical pump, which helps the left ventricle – the main pumping chamber of the heart – to pump blood to the rest of the body. More than 50,000 LVAD implants have been performed across the world. The latest HeartMate 3™ system is a highly advanced fully magnetically levitated LVAD which reduces friction and provides blood-friendly wide pump gaps to reduce issues such as blood stagnation and thrombus formation or clotting. HeartMate 3™ can pump up to 10 liters of blood per minute. The Full MagLev™ system enables an artificial pulse every 2 seconds by rapidly changing rotor speeds while maintaining pump gaps, thereby ensuring washing of the impeller.

HeartMate 3™ also comes with a smaller sized pump to increase surgical ease to implant and enhances patient’s life expectancy significantly. It allows the patient to have an active life with limited caution, with immediate symptomatic relief and improvement in the left heart function. This device is equipped to work with Go Gear wearable accessories. The one year FDA data has shown zero-rate of pump thrombosis and excellent patient outcomes. The HeartMate 3™ system received CE Mark approval in October, 2015, based on data from the clinical trial, which demonstrated a 92 percent six month survival rate; the best six month survival rate to date to be documented in an LVAD CE Mark clinical study.

Medgate announces winners of 6th MT India Health Care Awards 2016

Medgate Today, the world’s foremost and India’s leading healthcare and medical magazine organized the “6th MT India Health Care Awards 2016”, held at Medical Fair India 2016 at Bombay Convention & Exhibition Centre, Mumbai Maharashtra, according to a company statement. These awards aim to recognize and honour the leaders in healthcare. Doctors, healthcare professionals, hospitals and health corporations, from all over India, nominated themselves for the awards.

Sulabh2

 

Horst Giesen,Global Portfolio Director, Healthcare and Medical Technologies, Messe Düsseldorf GmbH and Mr. Thomas Schllit, Managing Director, Messe Düsseldorf India Pvt. Ltd., Dr. M. Wali,Sr. Consultant Medical: President of India, Anjan Bose, Secretary General, Nathealth, and Dr. Jitendar Sharma ,Director NHRC & Advisor to Chief Minister Andhra Pradesh were also present at the occasion along with other dignitaries.

Around 3026 nominations were received. The selection criteria was a three months screening process, based on the profile assessment of the nominees, comprehensive online research, customer reviews and patient satisfaction. Last but not the least, the recommendation from the eminent panel of jury was the deciding factor for the winning ticket.

Kyungsoo Kim, Consulate General of Federal Republic of Korea, was the chief guest on the occasion. “I extend my sincere regards to Medgate Today for organizing the highly acclaimed 6th MT India Healthcare Awards 2016 for glorifying the front runners in healthcare. These professionals, through high standard of their work, diligence and perseverance, have promoted better understanding of the Indian healthcare and the world”, said Mr. Kyungsoo Kimon the event.

32awards were given under different categories. The winners are:

NAME AWARD CATEGORIES
Dr. S.Suthanthira Devi

 

Best Doctor in Gynecology (For Serving in Rural Areas & PHC)

 

Dr. Babar Chaudhri

 

Best Cardiac Surgeon of the Year

 

Dr. A.S. Soin

 

Best Doctor in Liver Transplant

 

Dr. Rajiva Kumar

 

Best Doctor in Child and Neonatal Care

 

Dr. MukeshBavishi

 

Best Doctor in Gynecology and Gynec Oncology

 

Dr. Akanksha Shah

 

Best Young Cosmetic Dermatologist of the Year

 

Dr. AkshatPandey

 

Best Doctor in Physiotherapy

 

Dr. Rajneesh Kapoor

 

Best Doctor in Interventional Cardiology

 

Dr. AshitSyngle

 

Best Doctor in  Rheumatology

 

Dr. SantwanaVernekar

 

Best Doctor in Quality Management

 

Sameer Bhati

 

Healthcare Personality of the Year (Marketing and Branding)

 

SiddharthSanghwan

 

Young Healthcare Entrepreneur of the Year

 

Manish Mendiratta and Rajiv Misra

 

Healthcare Personalities of the Year (Referral Marketing)

 

Dr. Pervez Ali Ahmed

 

Healthcare Entrepreneur of the Year

 

Dr. K.G Alexander

 

Healthcare Personality of the Year(Hospital Administration

 

Catheter Reprocessing System (VikramGoel)

 

Best Innovative Medical Product of the Year

 

Dr. Swetapadma Dash

 

Healthcare Personality of the Year(Quality Management)

 

Medanta The Medicity

 

Best Multispecialty Hospital of the Year

 

PushpawatiSinghania Research Institute Best Hospital in Hospitality Management

 

Cygnus Medicare Pvt Ltd.

 

Best Corporate Hospital Chain of India 2016

 

Fortis Hospital Jaipur

 

Best Multispecialty Hospital In Rajasthan

 

Apollo Hospitals Bhubhaneshwar

 

Best Technology Initiatives Hospital

 

Dr. Raghoji Kidney Hospital

 

Best Single Specialty Hospital of the Year (Kidney Related Diseases)

 

PushpawatiSinghania Research Institute Best Hospital in Gastroenterology

 

Prof Veer Singh Mehta

 

Lifetime Achievement Award(Neurosurgery)

 

Dr. HabeebGhatala

 

Lifetime Achievement of the Year         (Healthcare Management)

 

Hindustan Medical Devices

 

Make in India Initiative Company of the Year

 

Ribbel International Ltd

 

Disposable Product Manufacturer of the Year

 

SaiSumeet Appliances

 

Best Modular OT Design and Consultants

 

Sun Narula Group(SNG)

 

Most Emerging Brand of the Year

 

Spencer India Technologies Ltd.

 

Best Medical Equipment Company of the Year

 

Dawailelo

 

Best Healthcare Startup company of the year

Afzal Kamal, Founder & Editor of Medgate Today said: “As pathfinders in healthcare, these medical and healthcare experts have the vision, knowledge, resources and the experience to make this country great.

Medgate

They are truly, our greatest asset today and tomorrow, and their support and leadership has made India a better nation. These awards intend to inspire others towards big achievements”.

Morepen Laboratories post 940% net profit in Q2 2015

Morepen Laboratories, the 30-year old Himachal Pradesh-based pharmaceutical major, has posted a phenomenal jump of 940% in its net profit, 24%, in its income from operations and 52% in exports in the second quarter of financial year 2015-16. According to a company statement, the spike in its bottom line is backed by an impressive all-round improvement in sales revenue of its various divisions in the Q2 ended September 30, 2015.

The pharmaceutical major’s profit after tax (PAT) in Q2 FY 2015-16 was pegged at Rs.3.22 crore, up from Rs.31 lakh in the corresponding period of the previous financial year, logging a whopping 940% growth. While its net income from operations surged by 24% at Rs.113 crore in Q2 FY 2015-16 from Rs.91.18 crore in the corresponding quarter of the previous fiscal and EBIDTA by 55% at Rs.16.06 crore from Rs.10.35 crore in the corresponding quarter of the previous fiscal. The cash surplus (EBDTA) has also shown a significant increase of 49% at Rs.12.74 versus Rs.8.52 crore in the year ago period.

Sushil-Suri

Sushil Suri, CMD, Morepen Laboratories, said: “Morepen Laboratories has a niche in the API business. Our cost reduction efforts coupled with continuous investments in R&D yielded rich dividends for the company as it attained a strong hold in the international markets, which eventually reflected positively on financial front in the current fiscal.”

Exports galore

A major portion of the growth in Q2 has come from exports business at Rs. 51.55 crore (Rs. 33.92 crore), an increase of 52%. Amongst various business segments, the Active Pharmaceutical Ingredients (API)/ Bulk Drugs segment’s contribution in total sales continued to remain at the top with a revenue of Rs. 69.52 crore in Q2 FY 2015-16, up by 37 per cent from Rs. 50.59 crore in corresponding quarter of the previous FY. Within the bulk drug’s segment, Atorvastatin’s business stood at Rs. 11.31 crore and Loratadine at Rs. 29.46 crore, registering a growth of 79% and 37% respectively.

The Home Diagnostics business with a sales revenue of Rs. 16.08 crore in Q2 FY 2015-16 (Rs. 13.75 crore) is another big contributor to the upsurge in the overall performance. Blood Glucometers and BP Monitors, used for measuring blood sugar and blood pressure in human body, are the main force driving Home Diagnostics sales of the company in the current fiscal. These high-end devices alone have recorded a sales revenue of Rs. 10.93 Crore in Q2 FY 2015-16. The company’s brands “Gluco One” and “BP One” are amongst the top three brands of the country in their respective categories. The company has high hopes from these business segments in the coming years, given the fact that India is increasingly being considered as the diabetic and cardiac capital of the world.

In the half year ended September 30, 2015, Morepen Laboratories has recorded a net profit of Rs. 5.73 crore and an income from operation of Rs. 216.56 crore, registering a growth of 328% and 19% respectively. EBIDTA during first half rose by 21% at Rs.29.52 crore, cash surplus (EBDTA) by 17% at Rs. 24.54 crore, Exports by 28% at Rs. 97.07 crore, Home Diagnostics business by 23% at Rs.30.70 crore and API business by 24 % at Rs. 129.91 crore. The sales revenue of Gluco Monitors and Blood Pressure Monitors in the first half has increased to Rs. 20.35 crore as compared to Rs. 14.23 crore in the first half of previous fiscal.

Morepen Laboratories Ltd. is a 30-year old pharmaceutical and healthcare products company. The company went public in the year 1993 and is currently listed at both the Bombay Stock Exchange as well as the National Stock Exchange.

Morepen is engaged in the manufacturing and sale of APIs/ Bulk Drugs, Home Diagnostics, Formulations and OTC products. The company’s state-of-the-art manufacturing facility at Baddi (Himachal Pradesh) comprises a scientifically integrated complex of 10 plants, each with a specific product profile. The USFDA approved plant at Masulkhana is for manufacture of Loratadine, an anti-allergy drug – internationally known as Claritin. The large and spread out manufacturing facility at Baddi manufactures latest and much in demand products like Atorvastatin, Montelukast, Rosuvastatin, Sitagliptin and others for regulated markets of USA and also for non-regulated markets across the globe. Morepen markets over 100 branded formulations under six major therapeutic segments in the domestic market. It has WHO GMP facilities for manufacturing of Formulations. The company’s manufacturing facilities are backed by a strong dedicated team of research and development (R&D) professionals who ensure stringent quality standards.

In Home – Diagnostics business, Morepen has a formidable presence in Blood Glucose Monitors and Blood Pressure Monitors, which are imported by the company for sale in the domestic market. The company’s OTC brands are being promoted under its wholly owned subsidiary Dr. Morepen Limited. Dr. Morepen’s famous OTC product line, including Burnol, Lemolate, Sat-Isabgol, FeverX, Pain X and others, has a significant presence in the domestic market.

 

 

Wagh Bakri unveils its range of refreshing Ice Teas

Wagh Bakri Tea Group, the third largest packaged tea manufacturer has launched its range of refreshing Ice Tea in three refreshing flavours of Lemon, Orange and Peach, according to a company statement.

Enriched with plenty of anti-oxidants and pure flabours, its juicy flavours swirl in your mouth and the healthy anti-oxidants give you an instant rush of energy.

Ice Tea_Wagh Bakri

Research

According to Wagh Bakri Tea Group study, a research among the youth and has reached a conclusion that the consumption of aerated drinks during summer is not being preferred and hence tea being a healthy beverage can be consumed in Ice Team form which is tasty and healthy as well. The Wagh Bakri Ice Teas are fortified with vitamin C which has various health benefits.

SBICAP donates Rs.1 crore to HCJMRI as part of CSR initiative

With the aim of facilitating free treatment of underpriviledged patients suffering from health conditions such as diabetes and osteoporosis, SBI Capital Markets Limited (SBICAP), leading domestic investment bank on March 21, 2015 donated Rs.1 crore to the Hirabai Cowasji Jehangir Medical Research Institute (HCJMRI). Abhay Chaudhari, President and COO, SBICAP handed over the donation amount, according to a media statement issued by SBI Capital Markets.

SBI1

From (L-R): Abhay Chaudhari, President & COO, SBI Capital Markets Limited (second left ) hands over Rs 1 crore cheque to  Dr. Sir Cowasji Jehangir, Chairman, HCJMRI (Extrem Right) and Dr Anuradha Khadilkar, Deputy Director HCJMRI (extreme left).

SBICAP has a committed CSR policy in place and endeavours to help reach out to various support groups that may require its time, finances or mobilisation strength. Especially with a focus on healthcare and sanitation, SBICAP has been actively pursuing and endorsing community improvement efforts in varying capacities across India with several other Corporate Social Responsibility (CSR) initiatives since its inception in 1986.

Rajnish Kumar MD and CEO from SBI Capital Markets said: “In partnership with HCJMRI, the company has pledged a support of Rs 1 crore. Of this, 60% will be used for facilitating the diagnosis of Osteoporosis (free of charge) for underprivileged people using the Bone densitometer, which is a machine used for measuring bone density. The remaining 40% will be spent for treating around 100 children with diabetes.”

Dr Anuradha Khadilkar, Deputy Director HCJMRI said: “We are thankful to SBICAP for the financial assistance that will help us provide support to around 100 affected children and families with diabetes. The clinic is specially operational for children on 2nd and 4th Saturdays of every month to treat children with diabetes; funding from SBICAP will help us in giving children insulin injections, glucometers and strips for testing, medical consultations, and yearly tests for complications, medications and other support as required.”
Sir Cowasji Jehangir, Chairman, HCJMRI pointed out: “We aim to support underprivileged children with diabetes so that they can live a happy and fruitful life like any other normal child. The Hospital, emphasised that the hospital would like to reach out and assist as many needy people as is possible through such programmes.

SBI2

The function was also attended by Mr Abhay Chaudhari – President & COO, SBICAP; Partha Pratim Sengupta GM MCRO, State Bank of India and trustees, heads of departments and members of ethics committee of the Jehangir Hospital and HCJMRI, as well as by children with diabetes and their parents.

Other than supporting the juvenile diabetics at the HCJMRI in Pune, SBICAP has contributed to various causes namely, for children suffering from cancer at the Cancer Institute (WIA) of Chennai, and national calamities such as the Uttarakhand floods.

SBI Capital Markets is India’s largest domestic Investment Bank, began its operations in August 1986 and is a wholly owned subsidiary and investment banking arm of State Bank of India (SBI), the largest commercial bank in India. SBICAP offers the entire bouquet of investment banking and corporate advisory services. The service bouquet includes the full range of financial advisory services under one umbrella covering Project Advisory and Loan Syndication, Structured Debt Placement, Capital Markets, Mergers and Acquisitions, Private Equity and Stressed Assets Resolution. SBICAP is a global leader in the area of Project Loan Syndication and has lent crucial support to the Indian infrastructure sector. Headquartered in Mumbai, SBICAP has 6 regional offices across India (New Delhi, Kolkata, Chennai, Ahmedabad, Bangalore and Hyderabad), 2 branch offices (Pune and Guwahati) and 5 subsidiaries – SBICAP Securities Limited, SBICAP Trustee Company Limited, SBICAP Ventures Limited, SBICAP (UK) Limited and SBICAP (Singapore) Limited.

The Hirabai Cowasji Jehangir Medical Research Institute, is a sister concern of Jehangir hospital, Pune, and has been involved in health related programmes for the last 18 years. The HCJMRI) is recognised by the Directorate of Scientific and Industrial Research (DSIR), Government of India as a centre for multi- disciplinary research in various branches of basic
and applied clinical research and has earned status as a Scientific Industrial Research Organization (SIRO) from the DSIR, New Delhi. The institute, which is a charitable trust, has extensively worked with children under 5 years, children with diabetes, growing girls and women from urban slums and villages to help improve their quality of life. Other areas of work include HIV, cervical cancer, Maternal and Child Health, Osteoporosis and Bone Health and Infectious Diseases. The HCJMRI has a 35 (i) (ii) tax exemption certificate, thus 200% tax exemption can be availed on all donations by corporates.

Elder Pharmaceuticals clear backlog of payments to the tune of Rs.26 crore

Elder Phamaceutivals Limited, one of the key players in the country, which was going through an erratic cash flow situation has made major pending statutory payments of TDS, provident fund, ESIC, Maharashtra Labour Welfare Fund etc., to the tune of Rs.26 crore, the company has informed the BSE and NSE to this effect, a company statement said.

Elder

Elder Pharmaceuticals plans to clear the backlog of other payments very soon. Elder is also in talks to raise fresh funds through a combination of debt or debt cum equity in order to improve its cash flow and performance. The company’s cash flow cycle was affected for a larger part of FY 2014-15 resulting in payments getting delayed to its various creditors and government bodies. In view of the growth in sales of its pharma & OTC products recently, the company is anticipating regular cash infusion which will contribute to its working capital, regular expenses and debt retirement needs.

Elder Pharmaceuticals is a major player in the Anti-infectives, Multi Vitamins, Cardiology and Skin care segments and is also present in the Over The Counter segment (OTC) through its products like AM/PM, Solo, Respite, Rhyme covering sectors like Oral Mouthwash, Skin Care, Nasal Decongestion, Muscle relaxants and Color Cosmetics. Elder has a prominent position in the pharma space in India and abroad with its products commanding good demand from hospitals, doctors etc. A few products like Eldervit (a nutraceutical), anti-infectives like Cefixime based Formic and Elfi, & Skin O2 (dermatology) have significant market share and are growing at over 14% annually. The company has 6 state-of-the-art production facilities across India backed by a team of over 2 dozen scientists.

Going forward, the company is embarking on a major price revamp supported by an aggressive national expansion campaign in order to garner a larger share in the domestic market. Elder’s International operations are registering steady growth and more than 40% of Elder’s revenue is likely to come from its global business. As a part of Elder’s deal with Torrent Pharmaceuticals in 2013 – which involved sale of over 30 brands and transfer of Elder’s domestic employees to Torrent – Elder shall utilize its six plants for contract manufacture of the formulations business sold to Torrent for 3 years which will fetch Elder a continous revenue stream of Rs 70 – 75 crore every year. Elder group is targeting a turnover of about Rs 1000 crore from its domestic and international operations by FY 2017.