Why we invested in Reveal Healthtech

We’ve often heard that healthtech is a sunshine sector – but seldom do we reflect on how most of these companies address their “tech” talent needs. There are 10k+ healthtech companies and startups just in the US (20k+ globally) with a total budget allocated to technology talent exceeding $9B per year. The overall healthcare technology outsourcing is a $40B opportunity.

The Problem

Despite the massive opportunity size, the industry is plagued with multiple challenges:

  • Talent identification and selection: Healthcare firms were struggling to onboard engineering talent. 75% of engineering roles remain open for more than 3 months. It takes 3-6 months to onboard technology talent.
  • Lack of healthcare domain expertise: Only ~10% of the leading product engineering firms offer specialized healthcare talent. The cost of this talent has also gone up 20% over the last year! Clients often find themselves in a trough of disillusionment because of the lack of domain understanding by their external partners. This is especially critical in healthcare given complex regulations (that differ for every country and category of solution), data privacy, and the important real-world implications associated with treating patients.
  • Cultural Misalignment: Employee satisfaction was low amongst software engineering teams at healthcare organizations, leading to high attrition (25%+).

The Solution

Reveal HealthTech is tackling this problem with a mission to maximize patient health outcomes by removing technology as a constraint to innovation and scale for its healthcare client partners. It offers a cross-functional approach to technology services and talent augmentation comprising engineering, clinical, and strategic support:

  1. Engineering: Reveal helps provide access to best-in-class technology talent with focused expertise in healthcare and matched to client need, timelines and budget.
  2. Clinical: The solutioning team has clinicians and dedicated healthcare experts who have pre-built modules for patient experience, doctor workflows and other healthcare specific solutions.
  3. Strategic: Act as thought partners who bridge the gap between ideas and implementation. The company helps define digital and product roadmap for its clients.

Through this, Reveal helps healthcare organizations create custom-built Centers of Excellence (CoEs) to leverage global talent pools. This could mean one team or the entire engineering organizations for the partner client.

What makes Reveal HealthTech exciting:

  • Access to top quality talent: India has a huge talent pool of 150k+ qualified engineers who have worked with and understood the US healthcare ecosystem. The founding team has a differentiated ability to build the supply side with a proven track record of identifying and partnering with top-quality engineers to make this talent available to the world
  • Focused healthcare expertise: Reveal Health has a strong clinical team and trains its workforce with Centers of Excellence for specific healthcare sub-sectors. Teams have pre-built modules for healthcare specific needs like patient health record systems, clinical workflows and new-age partner integrations for digital health
  • Stellar founding team: Sanchit has led engineering services with a focus on private equity, healthcare and AI (~$2B in sales). Reveal is the first technology services company with a CMO – a Chief Medical Officer from Harvard Medical!   

Why today

Optimizing development costs and shortening go-live timelines is a key priority for startups in this recessionary and uncertain time period. The pathway to technology implementation and adoption continues to be an arduous journey for most companies.

As digital health grows at a 20% CAGR, healthcare regulations keep changing, and technology improves with every sprint we see a clear white space for a differentiated, sector-focused, agile start-up that understands other healthcare start-ups. We need a player like Reveal HealthTech to catalyze the positive change towards a tech-driven healthcare ecosystem.