Medical Information and Software Technologies (MIST), a Pune based company developing Medical Informatics products, has launched its fourth and fifth products in the range called CT/MRI-Doc for CT and MRI scan (DICOM/Non DICOM version) and Tele-radiology software for hospitals and clinics. MIST has a clientele base of 125 spread across 7 countries.
Dwelling on the benefits of the CT-MRI-Doc, Dr. Ashish Dhawad, Founder and CEO said that the software helps save capital investment on Laser Scanner, Multiformat camera and film processor, gives immediate reports and images to the patient on CD and is useful in customer relationship management with referring doctors amongst other benefits. Tele-radiology software can be combined with CT/MRI-Doc but is optional, too. Said Dr. Dhawad, "with the help of Tele-radiology software hospital can provide logins to any user which will help them view images from anywhere in the world. It also sends automatic email to examining doctor when images are uploaded and gives automatic email when report is sent."
Commenting on the need of such software and the criticalities present in the existing method Dr. Dhawad said, "Most of the medical imaging modalities use hardcopy printing and digital storage of images is not possible. Hardcopy printing apart from being a cumbersome and time-consuming process requires significant capital investment and running costs are also high. Upgrading the existing equipment is cost prohibitive."
Further added that Medical Informatics product comes as a cost effective solution for various medical imaging modalities, which allows - Storage of high quality images in digital format. Significant reduction (70-75 per cent reduction) in operational running costs and is a collaborative platform for different departments within a hospital to manage knowledge and provides diagnostic support, too.
According to Dr. Dhawad opportunity and market for such products is very high, noted he, "Worldwide health care IT market is estimated to be approximately US$ 20 billion . Asia Pacific market is estimated to be approximately US$ 4 billion in year 2000 and expected to grow by 20 per cent for the next 5 years. Indian Market is estimated to be approximately US $ 30 million in year 2000 and growing by a huge 60 per cent for the next 3 years."
Giving market projections about the recent products - CT/MRI-Doc along with Teleradiology software, Dr. Dhawad pointed out, "There are an estimated 60,000 CT, MRI and NMR Machines already installed worldwide which translate into an estimated 300 million $ market for CT/MRI-Doc with an estimated annual growth rate of 10 per cent''.
The other products developed by MIST include SonoDoc: Ultrasound Image Management & Reporting System, ScopyDoc: Endoscopy Image Management & Reporting System and PathoDoc: Pathology Laboratory & Image Management System.