Covering Disruptive Technology Powering Business in The Digital Age

Written by: Izzat Najmi, Journalist, AOPG.

It is without a shadow of a doubt that the COVID-19 pandemic has shaken the global healthcare systems to their core, exposing the deep-rooted inequalities and systemic issues that have long plagued the industry. However, amidst the chaos, the crisis has also brought forth unprecedented innovation and revealed the potential of digital tools and novel ways of working.

From accelerating the development of life-saving medicines to facilitating remote healthcare delivery, the pandemic has forced the industry to think outside the box and embrace new approaches. Moreover, the industry faces long-term challenges such as growing demand for services, funding gaps, and variable access to advanced therapies, exacerbating the disparities in overall health and wellness.

To address these challenges, Adlan Hercus who founded FEV3R in 2019, a Healthcare-as-a-Service company focused on providing companies with cost-effective and efficient healthcare solutions for their employees, shared his experiences in healthcare and the evolution of the company.

The Pandemic’s Silver Lining

The pandemic served as a catalyst for unprecedented digital transformation in healthcare, propelling the industry into a new era of innovation. As per the World Economic Forum, investment in digital healthcare skyrocketed to a whopping USD $57 billion in 2021, nearly doubling from the previous year. This significant increase in funding highlights the industry’s growing interest in telehealth and mental health solutions. From tech giants investing heavily in healthcare to an influx of innovative digital health startups, the sector is ripe with opportunities for growth and transformation.

FEV3R, a company that leverages technology to provide cost-effective solutions to businesses for their employees’ outpatient medical benefits, looked at the pandemic as an opportunity to make Healthcare-as-a-Service more efficient. The company’s mission is to provide better access to improved healthcare to employees through their employers. The Healthcare-as-a-Service model is associated with companies that use technology to provide services at scale and pass cost savings to the end customer.

Adlan Hercus, the CEO of FEV3R, stumbled into healthcare by accident when he joined a technology company back in 2002. The company was one of the first in Malaysia to develop AI solutions, which they applied to the field of genetics. As human genomics became more widely accepted, the company expanded its genetic labs to include pathology tests. This exposed Adlan to the broader healthcare industry, particularly inpatient and outpatient care facilities, where he noticed many inefficiencies.

Over time, Adlan found himself asking questions about the healthcare industry, such as why certain processes were done a certain way, and why the industry had not evolved to leverage technology to provide better healthcare. He eventually co-founded FEV3R with Thomas Askew, whose 20 years of experience in developing global wealth management solutions for multinational banks. Together, they matched Adlan’s years of experience in healthcare with Thomas’s experience in technology to establish FEV3R.

Since its founding, FEV3R has evolved to become an established player in the healthcare industry. It partners with industry leaders such as MyWave, an HR solutions provider, to offer a comprehensive platform for companies to provide a host of benefits to their employees, including digital health solutions. As companies adopt technology solutions to reduce administrative bottlenecks, partnerships between industry leaders enable employees to access benefits easily through a single platform. MyWave and FEV3R work behind the scenes to provide a seamless experience for employees.

FEV3R Raising the Temperature

FEV3R addresses challenges associated with putting healthcare records in the hands of individuals. Electronic health records have been discussed for over two decades but remain siloed across various health institutes that individuals visit over the course of their life. Individuals need to request this information from one institution to share it with another institution. The extent to which information is shared between departments in a hospital depends largely on the level of digitisation within the hospital.

Despite progress, electronic records are not yet universal for inpatient care within the same hospital. On the other hand, outpatient care does not even take the potential of electronic records into account. However, FEV3R allows individuals to curate their medical records seamlessly. Patients need to maintain their medical records, as they are the only ones who think about their health. FEV3R allows patients to store their medical records securely, and they can easily access them when they need them.

FEV3R is also addressing systemic problems within the healthcare industry that impact companies, their employees, and the way they interact with outpatient care. The traditional healthcare system encourages abuse in the form of employee absenteeism and presenteeism, leading to rising healthcare costs for companies.

FEV3R’s Healthcare-as-a-Service model, on the other hand, provides preventative care and early intervention through its digital health solutions, resulting in healthier employees and lower healthcare costs for companies.

One of the ways FEV3R achieves this is through its telemedicine platform, which allows employees to consult with healthcare professionals remotely. This reduces the need for employees to take time off work for appointments, and it also improves access to healthcare for those living in rural areas or with limited mobility.

FEV3R also provides a health savings account (HSA) solution that allows employees to save for healthcare expenses tax-free. This encourages employees to take charge of their healthcare costs and promotes better decision-making when it comes to healthcare spending.

What Lies Ahead?

Like any other tech, Healthcare-as-a-Service is also evolving to fit the need of customers. In fact, healthcare itself is evolving rapidly, and digital health is at the forefront of this transformation. With the increasing adoption of digital health tools in many countries, it is clear that virtual health will play an increasingly important role in the future of healthcare. However, it is important to remember that virtual tools are not meant to replace physical interactions with medical professionals but to complement them. By leveraging technology, digital health extends the ways in which we can interact with the healthcare system, leading to better accessibility and ultimately, better health outcomes.

As we continue to embrace digital health, we open ourselves up to a world of possibilities. The pace of innovation accelerates, and the bar is raised in every aspect of healthcare. Medical professionals will always be necessary, but the way they use technology will impact the level of care received by patients. Artificial intelligence (AI) is one of the most significant tools available to healthcare providers today. It has already made strides in areas such as image recognition, drug development, and data analytics, with the potential to go far beyond.

Adlan mentioned, “At FEV3R, we are excited about the potential offered by generative AI as well as the use of large language models.”

Even before ChatGPT became a buzzword, FEV3R have been focused on the use of conversational AI to guide the user through a consultation. They ask their users to describe their symptoms, and their very own AI engine adapts its line of questioning based on the responses given by the users. These are all designed to be familiar and natural.

In fact, the questions asked during this chat-based interaction are exactly the same types of questions a doctor would ask if you were sitting in front of them. What FEV3R is actually doing is really an advanced form of notetaking and when a user is finally ready to connect to a real doctor, present this information to the doctor who then proceeds with performing a differential diagnosis, issuing prescriptions, making referrals or unfit-for-work certificates.

Each step of this process is enhanced with the use of AI which is integrated with FEV3R’s proprietary desktop application used by our doctors. The use of AI in this context serves to guide our doctors to have better, more relevant conversations with patients.

As the world continues to grapple with the aftermath of the COVID-19 pandemic, the healthcare industry is undergoing a transformation like never before. Adlan hopes that by addressing the systemic problems that plague the industry, FEV3R is setting a new standard for other Healthcare-as-a-Service companies. He said, ending the interview, “Ultimately, FEV3R is all about deploying technology to deliver an unrivalled end-user experience and improved health outcomes for our users.”

As the temperature in the industry continues to rise, FEV3R is leading the charge towards a brighter, healthier future. We hope that we can see more and more Health-as-a-Service companies providing more cutting-edge technologies that can help make us prepare for what lies ahead – hopefully not another near world-ending virus, perhaps?

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